Reinsurance Group of America, Incorporated (NYSE:RGA – Get Rating) – Research analysts at Jefferies Financial Group raised their FY2022 EPS estimates for shares of Reinsurance Group of America in a research report issued to clients and investors on Sunday, June 5th. Jefferies Financial Group analyst D. Bergman now expects that the insurance provider will earn $9.55 per share for the year, up from their previous estimate of $7.70. Jefferies Financial Group also issued estimates for Reinsurance Group of America’s Q4 2022 earnings at $3.36 EPS, Q2 2023 earnings at $3.80 EPS and Q4 2023 earnings at $4.40 EPS.
Reinsurance Group of America (NYSE:RGA – Get Rating) last posted its quarterly earnings results on Thursday, May 5th. The insurance provider reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.61) by $1.08. Reinsurance Group of America had a net margin of 2.52% and a return on equity of 1.59%. The business had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the prior year, the company posted ($1.24) EPS. The business’s revenue for the quarter was down 4.6% on a year-over-year basis.
RGA has been the topic of a number of other research reports. Zacks Investment Research raised shares of Reinsurance Group of America from a “strong sell” rating to a “hold” rating and set a $116.00 target price on the stock in a report on Wednesday, April 6th. Morgan Stanley upgraded Reinsurance Group of America from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $126.00 to $132.00 in a report on Thursday, May 19th. StockNews.com lowered Reinsurance Group of America from a “buy” rating to a “hold” rating in a report on Saturday, May 14th. Credit Suisse Group raised Reinsurance Group of America from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $80.00 to $122.00 in a research report on Thursday, June 2nd. Finally, TheStreet lowered Reinsurance Group of America from a “b-” rating to a “c” rating in a research report on Thursday, May 5th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $127.67.
Shares of Reinsurance Group of America stock opened at $127.18 on Wednesday. The company has a fifty day moving average price of $115.86 and a 200 day moving average price of $111.12. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.40. Reinsurance Group of America has a twelve month low of $94.32 and a twelve month high of $127.86. The stock has a market cap of $8.52 billion, a price-to-earnings ratio of 20.95 and a beta of 1.08.
The company also recently declared a quarterly dividend, which was paid on Tuesday, May 31st. Stockholders of record on Tuesday, May 17th were given a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Monday, May 16th. Reinsurance Group of America’s dividend payout ratio is 48.11%.
In other news, Director Christine Rose Detrick sold 4,300 shares of Reinsurance Group of America stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $113.34, for a total value of $487,362.00. Following the transaction, the director now owns 1,618 shares of the company’s stock, valued at $183,384.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.55% of the company’s stock.
Large investors have recently modified their holdings of the company. Bank of America Corp DE lifted its position in Reinsurance Group of America by 17.1% during the 1st quarter. Bank of America Corp DE now owns 958,246 shares of the insurance provider’s stock worth $104,890,000 after buying an additional 139,710 shares in the last quarter. Rehmann Capital Advisory Group raised its holdings in Reinsurance Group of America by 3.2% during the 1st quarter. Rehmann Capital Advisory Group now owns 8,114 shares of the insurance provider’s stock worth $888,000 after purchasing an additional 253 shares during the last quarter. Walleye Capital LLC bought a new stake in Reinsurance Group of America during the 1st quarter worth about $647,000. Toroso Investments LLC bought a new stake in Reinsurance Group of America during the 1st quarter worth about $401,000. Finally, Polar Capital Holdings Plc raised its holdings in Reinsurance Group of America by 13.4% during the 1st quarter. Polar Capital Holdings Plc now owns 615,000 shares of the insurance provider’s stock worth $67,318,000 after purchasing an additional 72,500 shares during the last quarter. Institutional investors own 96.37% of the company’s stock.
Reinsurance Group of America Company Profile (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.
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