Reinsurance Group of America, Incorporated (NYSE:RGA) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Reinsurance Group of America received a consensus recommendation of "Moderate Buy" from eleven ratings firms, with four holding and seven buying the stock.
• The company's stock has experienced a 2.5% decline and is currently trading at $192.05, with a market cap of $12.69 billion.
• Reinsurance Group of America recently announced a quarterly dividend increase from $0.89 to $0.93, reflecting a positive change in its annualized yield.

Reinsurance Group of America, Incorporated (NYSE:RGA - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the eleven ratings firms that are presently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $241.5556.

Several analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price target on Reinsurance Group of America from $237.00 to $264.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Wells Fargo & Company lowered their target price on Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Barclays restated an "overweight" rating and issued a $246.00 target price on shares of Reinsurance Group of America in a research note on Wednesday, October 8th. Morgan Stanley lowered their target price on Reinsurance Group of America from $210.00 to $195.00 and set an "equal weight" rating on the stock in a research note on Monday, August 18th. Finally, Piper Sandler restated an "overweight" rating on shares of Reinsurance Group of America in a research note on Tuesday, October 7th.

Reinsurance Group of America Stock Down 2.5%

Reinsurance Group of America stock opened at $192.05 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.16 and a current ratio of 0.16. The business's 50-day simple moving average is $191.51 and its two-hundred day simple moving average is $193.23. The company has a market cap of $12.69 billion, a PE ratio of 16.67 and a beta of 0.60. Reinsurance Group of America has a fifty-two week low of $159.25 and a fifty-two week high of $233.81.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The insurance provider reported $4.72 earnings per share for the quarter, missing the consensus estimate of $5.58 by ($0.86). The firm had revenue of $5.60 billion for the quarter, compared to analysts' expectations of $5.70 billion. Reinsurance Group of America had a net margin of 3.54% and a return on equity of 12.56%. The firm's revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.48 EPS. Equities analysts anticipate that Reinsurance Group of America will post 22.9 EPS for the current year.

Reinsurance Group of America Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were paid a $0.93 dividend. The ex-dividend date was Tuesday, August 12th. This is a positive change from Reinsurance Group of America's previous quarterly dividend of $0.89. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.9%. Reinsurance Group of America's dividend payout ratio (DPR) is currently 32.29%.

Institutional Trading of Reinsurance Group of America

A number of hedge funds have recently modified their holdings of the stock. Alpine Bank Wealth Management acquired a new position in Reinsurance Group of America in the 1st quarter worth about $28,000. Golden State Wealth Management LLC raised its holdings in Reinsurance Group of America by 164.3% in the 1st quarter. Golden State Wealth Management LLC now owns 148 shares of the insurance provider's stock worth $29,000 after purchasing an additional 92 shares during the period. Cornerstone Planning Group LLC raised its holdings in Reinsurance Group of America by 224.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 175 shares of the insurance provider's stock worth $33,000 after purchasing an additional 121 shares during the period. TCTC Holdings LLC raised its holdings in Reinsurance Group of America by 107.2% in the 1st quarter. TCTC Holdings LLC now owns 172 shares of the insurance provider's stock worth $34,000 after purchasing an additional 89 shares during the period. Finally, Headlands Technologies LLC raised its holdings in Reinsurance Group of America by 357.1% in the 1st quarter. Headlands Technologies LLC now owns 224 shares of the insurance provider's stock worth $44,000 after purchasing an additional 175 shares during the period. Hedge funds and other institutional investors own 95.11% of the company's stock.

Reinsurance Group of America Company Profile

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.

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