Reinsurance Group of America, Incorporated (NYSE:RGA) Announces Dividend Increase - $0.93 Per Share

Key Points

• The Reinsurance Group of America announced a quarterly dividend of $0.93 per share, reflecting a 4.5% increase from the previous dividend of $0.89.
• The company's dividend payout ratio stands at 14.0%, indicating the dividend is well-covered by earnings, with expectations for future earnings to maintain this coverage.
• Shares of Reinsurance Group of America increased by 1.0% to $192.47, amidst varied analyst price targets ranging from $210 to $264 indicating an overall "Moderate Buy" consensus.

Reinsurance Group of America, Incorporated (NYSE:RGA - Get Free Report) announced a quarterly dividend on Thursday, July 31st, RTT News reports. Shareholders of record on Tuesday, August 12th will be paid a dividend of 0.93 per share by the insurance provider on Tuesday, August 26th. This represents a c) dividend on an annualized basis and a yield of 1.9%. This is a 4.5% increase from Reinsurance Group of America's previous quarterly dividend of $0.89.

Reinsurance Group of America has a dividend payout ratio of 14.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Reinsurance Group of America to earn $24.55 per share next year, which means the company should continue to be able to cover its $3.56 annual dividend with an expected future payout ratio of 14.5%.

Reinsurance Group of America Stock Up 1.0%

Shares of Reinsurance Group of America stock traded up $1.96 during trading hours on Thursday, reaching $192.47. 511,184 shares of the company were exchanged, compared to its average volume of 442,378. Reinsurance Group of America has a 1 year low of $159.25 and a 1 year high of $233.81. The stock's fifty day moving average is $197.90 and its 200 day moving average is $199.18. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.16 and a current ratio of 0.16. The firm has a market cap of $12.72 billion, a PE ratio of 16.24 and a beta of 0.62.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The insurance provider reported $4.72 earnings per share for the quarter, missing analysts' consensus estimates of $5.55 by ($0.83). Reinsurance Group of America had a return on equity of 13.69% and a net margin of 3.77%. As a group, equities research analysts forecast that Reinsurance Group of America will post 22.9 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Wells Fargo & Company reaffirmed an "overweight" rating and set a $249.00 price objective (up previously from $248.00) on shares of Reinsurance Group of America in a research report on Thursday, July 10th. UBS Group reaffirmed a "neutral" rating and set a $216.00 price objective (down previously from $250.00) on shares of Reinsurance Group of America in a research report on Wednesday, April 2nd. Morgan Stanley upped their price objective on Reinsurance Group of America from $209.00 to $210.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. JPMorgan Chase & Co. increased their target price on Reinsurance Group of America from $237.00 to $264.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Finally, Raymond James Financial reissued a "market perform" rating on shares of Reinsurance Group of America in a report on Friday, May 23rd. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, Reinsurance Group of America has an average rating of "Moderate Buy" and a consensus target price of $244.36.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated engages in reinsurance business. The company offers individual and group life and health insurance products, such as term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products; asset-intensive and financial reinsurance products; and other capital motivated solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.