Reinsurance Group of America’s (RGA) Market Perform Rating Reiterated at Raymond James

Raymond James reaffirmed their market perform rating on shares of Reinsurance Group of America (NYSE:RGA) in a research note released on Friday morning, Marketbeat Ratings reports.

Other research analysts also recently issued reports about the company. Piper Sandler cut their price objective on Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Keefe, Bruyette & Woods lifted their price objective on Reinsurance Group of America from $250.00 to $255.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. upgraded Reinsurance Group of America from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $232.00 to $237.00 in a research report on Wednesday, April 2nd. UBS Group restated a “neutral” rating and set a $216.00 price objective (down from $250.00) on shares of Reinsurance Group of America in a research report on Wednesday, April 2nd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $245.00 price objective on shares of Reinsurance Group of America in a research report on Monday, February 10th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $228.85.

Reinsurance Group of America Price Performance

Shares of NYSE:RGA opened at $199.89 on Friday. The business’s 50 day simple moving average is $192.23 and its 200-day simple moving average is $206.30. The firm has a market capitalization of $13.21 billion, a price-to-earnings ratio of 18.61 and a beta of 0.57. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.15 and a quick ratio of 0.17. Reinsurance Group of America has a 12 month low of $159.25 and a 12 month high of $233.81.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Thursday, May 1st. The insurance provider reported $5.66 EPS for the quarter, topping the consensus estimate of $5.33 by $0.33. The business had revenue of $5.26 billion for the quarter, compared to analyst estimates of $5.74 billion. Reinsurance Group of America had a return on equity of 14.55% and a net margin of 3.24%. The company’s quarterly revenue was down 17.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.02 EPS. As a group, equities analysts forecast that Reinsurance Group of America will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th will be issued a $0.89 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $3.56 annualized dividend and a yield of 1.78%. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 30.04%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Alpine Bank Wealth Management acquired a new position in Reinsurance Group of America in the 1st quarter valued at $28,000. Colonial Trust Co SC increased its holdings in shares of Reinsurance Group of America by 72.2% during the 4th quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider’s stock worth $29,000 after buying an additional 57 shares during the last quarter. Golden State Wealth Management LLC increased its holdings in shares of Reinsurance Group of America by 164.3% during the 1st quarter. Golden State Wealth Management LLC now owns 148 shares of the insurance provider’s stock worth $29,000 after buying an additional 92 shares during the last quarter. Cornerstone Planning Group LLC increased its holdings in shares of Reinsurance Group of America by 224.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 175 shares of the insurance provider’s stock worth $33,000 after buying an additional 121 shares during the last quarter. Finally, TCTC Holdings LLC increased its holdings in shares of Reinsurance Group of America by 107.2% during the 1st quarter. TCTC Holdings LLC now owns 172 shares of the insurance provider’s stock worth $34,000 after buying an additional 89 shares during the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.

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.