Reinsurance Group of America, Incorporated to Issue Quarterly Dividend of $0.73 (NYSE:RGA)

Reinsurance Group of America, Incorporated (NYSE:RGAGet Rating) declared a quarterly dividend on Tuesday, May 3rd, Zacks reports. Shareholders of record on Tuesday, May 17th will be paid a dividend of 0.73 per share by the insurance provider on Tuesday, May 31st. This represents a $2.92 annualized dividend and a yield of 2.48%. The ex-dividend date is Monday, May 16th.

Reinsurance Group of America has raised its dividend payment by an average of 9.1% per year over the last three years and has raised its dividend annually for the last 12 consecutive years. Reinsurance Group of America has a payout ratio of 19.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Reinsurance Group of America to earn $15.25 per share next year, which means the company should continue to be able to cover its $2.92 annual dividend with an expected future payout ratio of 19.1%.

Shares of NYSE RGA opened at $117.91 on Friday. Reinsurance Group of America has a 52 week low of $94.32 and a 52 week high of $129.63. The business has a 50-day simple moving average of $109.54 and a two-hundred day simple moving average of $110.11. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.40. The company has a market cap of $7.90 billion, a P/E ratio of 19.43 and a beta of 1.10.

Reinsurance Group of America (NYSE:RGAGet Rating) last released its quarterly earnings results on Thursday, May 5th. The insurance provider reported $0.47 earnings per share for the quarter, beating the consensus estimate of ($0.55) by $1.02. Reinsurance Group of America had a return on equity of 1.59% and a net margin of 2.52%. The firm had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter last year, the firm posted ($1.24) EPS. The company’s revenue was down 4.6% compared to the same quarter last year. Equities research analysts anticipate that Reinsurance Group of America will post 9.76 EPS for the current year.

In related news, Director Christine Rose Detrick sold 4,300 shares of the firm’s stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $113.34, for a total transaction of $487,362.00. Following the transaction, the director now directly owns 1,618 shares in the company, valued at approximately $183,384.12. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.55% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of RGA. Morgan Stanley boosted its position in shares of Reinsurance Group of America by 10.4% during the second quarter. Morgan Stanley now owns 170,789 shares of the insurance provider’s stock valued at $19,470,000 after purchasing an additional 16,133 shares in the last quarter. LPL Financial LLC boosted its position in shares of Reinsurance Group of America by 8.0% during the third quarter. LPL Financial LLC now owns 7,511 shares of the insurance provider’s stock valued at $836,000 after purchasing an additional 559 shares in the last quarter. Barclays PLC boosted its position in shares of Reinsurance Group of America by 21.6% during the fourth quarter. Barclays PLC now owns 134,820 shares of the insurance provider’s stock valued at $14,761,000 after purchasing an additional 23,921 shares in the last quarter. MML Investors Services LLC boosted its position in shares of Reinsurance Group of America by 5.5% during the fourth quarter. MML Investors Services LLC now owns 7,965 shares of the insurance provider’s stock valued at $872,000 after purchasing an additional 416 shares in the last quarter. Finally, Stifel Financial Corp boosted its position in shares of Reinsurance Group of America by 11.7% during the fourth quarter. Stifel Financial Corp now owns 10,555 shares of the insurance provider’s stock valued at $1,156,000 after purchasing an additional 1,107 shares in the last quarter. Hedge funds and other institutional investors own 96.37% of the company’s stock.

RGA has been the topic of several recent analyst reports. Zacks Investment Research raised Reinsurance Group of America from a “strong sell” rating to a “hold” rating and set a $116.00 price target on the stock in a report on Wednesday, April 6th. Jefferies Financial Group initiated coverage on Reinsurance Group of America in a report on Tuesday, January 25th. They issued a “buy” rating and a $130.00 price target on the stock. StockNews.com cut Reinsurance Group of America from a “buy” rating to a “hold” rating in a report on Saturday. Morgan Stanley decreased their price objective on Reinsurance Group of America from $125.00 to $123.00 and set an “underweight” rating on the stock in a report on Friday, February 4th. Finally, TheStreet cut Reinsurance Group of America from a “b-” rating to a “c” rating in a report on Thursday, May 5th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Reinsurance Group of America has an average rating of “Hold” and a consensus price target of $122.10.

About Reinsurance Group of America (Get Rating)

Reinsurance Group of America, Incorporated engages in reinsurance business. It 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.

Further Reading

Dividend History for Reinsurance Group of America (NYSE:RGA)

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