Reinsurance Group of America’s (RGA) Outperform Rating Reiterated at Royal Bank of Canada

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

Several other research firms have also recently commented on RGA. Barclays cut their price target on Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating for the company in a report on Monday, January 6th. StockNews.com upgraded shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Piper Sandler lowered 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. Finally, JPMorgan Chase & Co. upped 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 equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $228.31.

Reinsurance Group of America Price Performance

NYSE:RGA opened at $198.95 on Monday. The firm has a market cap of $13.10 billion, a P/E ratio of 18.52 and a beta of 0.93. The stock has a 50 day moving average of $217.62 and a two-hundred day moving average of $217.10. Reinsurance Group of America has a 12 month low of $165.38 and a 12 month high of $233.81. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.45.

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 the consensus estimate of $5.22 by ($0.23). Reinsurance Group of America had a return on equity of 14.80% and a net margin of 3.24%. On average, analysts expect that Reinsurance Group of America will post 23.14 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Tuesday, February 18th. Reinsurance Group of America’s payout ratio is currently 33.15%.

Institutional Investors Weigh In On Reinsurance Group of America

Hedge funds have recently bought and sold shares of the stock. WCM Investment Management LLC raised its holdings in Reinsurance Group of America by 1,208.5% in the third quarter. WCM Investment Management LLC now owns 2,447,668 shares of the insurance provider’s stock valued at $527,742,000 after acquiring an additional 2,260,605 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Reinsurance Group of America by 389.4% during the fourth quarter. Alliancebernstein L.P. now owns 1,123,022 shares of the insurance provider’s stock worth $239,911,000 after purchasing an additional 893,537 shares in the last quarter. Norges Bank purchased a new position in Reinsurance Group of America in the fourth quarter valued at $174,082,000. Raymond James Financial Inc. acquired a new stake in Reinsurance Group of America in the fourth quarter valued at $48,724,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Reinsurance Group of America by 47.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 364,953 shares of the insurance provider’s stock worth $79,512,000 after acquiring an additional 117,829 shares in the last quarter. Institutional investors and hedge funds 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.