Reinsurance Group of America (NYSE:RGA) Receives Outperform Rating from Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Reinsurance Group of America (NYSE:RGA) in a research report report published on Monday,Benzinga reports. Royal Bank of Canada currently has a $245.00 price target on the insurance provider’s stock.

Several other equities research analysts have also recently weighed in on the stock. StockNews.com raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Piper Sandler reduced their price objective on Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating on the stock in a research report on Monday. Barclays reduced their target price on shares of Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. increased their price target on Reinsurance Group of America from $227.00 to $232.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Reinsurance Group of America currently has an average rating of “Moderate Buy” and an average target price of $228.31.

Reinsurance Group of America Stock Performance

RGA opened at $200.73 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.17 and a quick ratio of 0.17. The business has a fifty day simple moving average of $218.73 and a 200 day simple moving average of $217.40. Reinsurance Group of America has a 1 year low of $165.38 and a 1 year high of $233.81. The company has a market capitalization of $13.22 billion, a PE ratio of 18.69 and a beta of 0.93.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Thursday, February 6th. The insurance provider reported $4.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.23). Reinsurance Group of America had a net margin of 3.24% and a return on equity of 14.80%. Research analysts expect that Reinsurance Group of America will post 23.14 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be paid a $0.89 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $3.56 dividend on an annualized basis and a yield of 1.77%. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 33.15%.

Institutional Trading of Reinsurance Group of America

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Eagle Asset Management Inc. grew its holdings in Reinsurance Group of America by 15.7% during the third quarter. Eagle Asset Management Inc. now owns 112,901 shares of the insurance provider’s stock worth $25,297,000 after buying an additional 15,289 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Reinsurance Group of America by 4.8% in the fourth quarter. Nordea Investment Management AB now owns 89,837 shares of the insurance provider’s stock worth $19,232,000 after purchasing an additional 4,119 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Reinsurance Group of America by 7.9% in the third quarter. Franklin Resources Inc. now owns 77,516 shares of the insurance provider’s stock valued at $16,862,000 after purchasing an additional 5,699 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Reinsurance Group of America by 23.8% during the 4th quarter. Pacer Advisors Inc. now owns 14,402 shares of the insurance provider’s stock valued at $3,077,000 after buying an additional 2,768 shares in the last quarter. Finally, Martin Capital Partners LLC bought a new position in Reinsurance Group of America in the 4th quarter worth approximately $1,788,000. Institutional investors own 95.11% of the company’s stock.

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.