Reinsurance Group of America (NYSE:RGA) Upgraded at UBS Group

UBS Group upgraded shares of Reinsurance Group of America (NYSE:RGA) from a hold rating to a strong-buy rating in a report issued on Friday morning,Zacks.com reports.

Several other equities research analysts also recently weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Reinsurance Group of America from $270.00 to $286.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Piper Sandler cut their price objective on shares of Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Wells Fargo & Company increased their price objective on shares of Reinsurance Group of America from $261.00 to $269.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Barclays raised their target price on Reinsurance Group of America from $268.00 to $278.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Reinsurance Group of America in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $255.00.

Reinsurance Group of America Stock Performance

Shares of RGA stock opened at $238.93 on Friday. The company has a market cap of $15.65 billion, a price-to-earnings ratio of 12.94 and a beta of 0.47. Reinsurance Group of America has a 52 week low of $165.52 and a 52 week high of $245.00. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.46. The firm has a 50 day moving average of $216.78 and a 200-day moving average of $210.87.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Thursday, May 7th. The insurance provider reported $6.97 earnings per share for the quarter, beating the consensus estimate of $6.03 by $0.94. The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.47 billion. Reinsurance Group of America had a net margin of 4.92% and a return on equity of 13.16%. Reinsurance Group of America’s revenue for the quarter was up 23.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.66 EPS. On average, equities analysts forecast that Reinsurance Group of America will post 26.84 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 19th were paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Tuesday, May 19th. Reinsurance Group of America’s payout ratio is 20.15%.

Insider Buying and Selling at Reinsurance Group of America

In other news, EVP Ronald Herrmann sold 7,000 shares of Reinsurance Group of America stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $210.58, for a total transaction of $1,474,060.00. Following the completion of the transaction, the executive vice president directly owned 3,938 shares in the company, valued at $829,264.04. This trade represents a 64.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John W. Hayden sold 414 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total transaction of $88,989.30. Following the sale, the executive vice president directly owned 20,949 shares of the company’s stock, valued at approximately $4,502,987.55. The trade was a 1.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Reinsurance Group of America

Several large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC boosted its position in shares of Reinsurance Group of America by 26.5% in the first quarter. SG Americas Securities LLC now owns 89,847 shares of the insurance provider’s stock valued at $18,343,000 after acquiring an additional 18,826 shares during the period. PNC Financial Services Group Inc. increased its holdings in Reinsurance Group of America by 34.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 21,293 shares of the insurance provider’s stock worth $4,332,000 after acquiring an additional 5,500 shares during the period. Tudor Investment Corp ET AL increased its holdings in Reinsurance Group of America by 616.3% during the 3rd quarter. Tudor Investment Corp ET AL now owns 60,870 shares of the insurance provider’s stock worth $11,695,000 after acquiring an additional 52,372 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Reinsurance Group of America by 8,703.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 50,974 shares of the insurance provider’s stock worth $10,371,000 after acquiring an additional 50,395 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Reinsurance Group of America by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 1,341,364 shares of the insurance provider’s stock worth $272,966,000 after purchasing an additional 12,682 shares in the last quarter. Institutional investors own 95.11% of the company’s stock.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.