Reinsurance Group of America Receives Consensus Recommendation of “Hold” from Analysts (NYSE:RGA)
Shares of Reinsurance Group of America (NYSE:RGA) have been given a consensus recommendation of “Hold” by the eight ratings firms that are presently covering the company, Stock Ratings Network.com reports. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $87.00.
A number of research firms have recently commented on RGA. Analysts at Zacks reiterated a “neutral” rating on shares of Reinsurance Group of America in a research note on Wednesday, August 13th. They now have a $84.00 price target on the stock. Separately, analysts at Morgan Stanley downgraded shares of Reinsurance Group of America from an “equal weight” rating to an “underweight” rating in a research note on Monday, August 11th. Finally, analysts at Keefe, Bruyette & Woods raised their price target on shares of Reinsurance Group of America from $86.00 to $88.00 in a research note on Thursday, July 31st.
In other Reinsurance Group of America news, EVP Todd C. Larson sold 3,949 shares of the stock on the open market in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $81.57, for a total value of $322,119.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Reinsurance Group of America (NYSE:RGA) opened at 82.48 on Wednesday. Reinsurance Group of America has a 52-week low of $63.95 and a 52-week high of $82.75. The stock’s 50-day moving average is $80.64 and its 200-day moving average is $78.40. The company has a market cap of $5.655 billion and a price-to-earnings ratio of 9.47.
Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Thursday, July 24th. The company reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.26. During the same quarter in the previous year, the company posted ($0.99) earnings per share. Analysts expect that Reinsurance Group of America will post $8.07 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 29th. Investors of record on Friday, August 8th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Wednesday, August 6th. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.30.
Reinsurance Group of America, Incorporated (NYSE:RGA) is an insurance holding company.
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