Zacks Investment Research upgraded shares of Reinsurance Group of America (NYSE:RGA) from a sell rating to a hold rating in a report published on Monday.
According to Zacks, “Shares of Reinsurance Group have underperformed the industry in a year’s time. the company consistent benefits from a mix of organic and transactional opportunities. Its niche position in the United States and Canadian reinsurance markets as well as the expansion of its international footprint and diversified earnings stream are key positives. Moreover, the company is poised to benefit from an improving life reinsurance pricing environment. It expects its operating income per share to surge 58% and the operating ROE to rise between 10% and 12% in the intermediate term. However, exposure to foreign exchange volatility, the company’s unstable Australian business and the evolving capital requirements pose headwinds in the near term.”
Other equities analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods raised Reinsurance Group of America from a market perform rating to an outperform rating and set a $100.00 price objective for the company in a research report on Monday, July 30th. Credit Suisse Group cut their price objective on Reinsurance Group of America from $155.00 to $144.00 and set a neutral rating for the company in a research report on Friday. ValuEngine cut Reinsurance Group of America from a hold rating to a sell rating in a research report on Monday, July 2nd. Wells Fargo & Co set a $165.00 price objective on Reinsurance Group of America and gave the stock a hold rating in a research report on Thursday, April 26th. Finally, Morgan Stanley cut their price objective on Reinsurance Group of America from $132.00 to $131.00 and set an underweight rating for the company in a research report on Wednesday, July 11th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. Reinsurance Group of America presently has a consensus rating of Hold and a consensus target price of $150.11.
RGA opened at $143.40 on Monday. The stock has a market cap of $8.98 billion, a PE ratio of 13.23 and a beta of 0.83. Reinsurance Group of America has a 52-week low of $126.62 and a 52-week high of $165.12. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.32.
Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Thursday, July 26th. The insurance provider reported $3.10 earnings per share for the quarter, missing the consensus estimate of $3.14 by ($0.04). Reinsurance Group of America had a return on equity of 7.99% and a net margin of 13.72%. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same period in the prior year, the firm posted $2.95 EPS. Reinsurance Group of America’s revenue for the quarter was up 2.1% on a year-over-year basis. equities research analysts forecast that Reinsurance Group of America will post 11.28 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 28th. Shareholders of record on Tuesday, August 7th will be issued a $0.60 dividend. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, August 6th. This represents a $2.40 annualized dividend and a yield of 1.67%. Reinsurance Group of America’s dividend payout ratio is 22.14%.
In other news, Director John J. Gauthier purchased 1,000 shares of the business’s stock in a transaction on Tuesday, July 31st. The stock was purchased at an average price of $140.19 per share, with a total value of $140,190.00. Following the acquisition, the director now directly owns 2,000 shares in the company, valued at approximately $280,380. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director J Cliff Eason sold 2,991 shares of the company’s stock in a transaction that occurred on Wednesday, May 23rd. The shares were sold at an average price of $150.84, for a total value of $451,162.44. Following the completion of the transaction, the director now directly owns 8,800 shares of the company’s stock, valued at approximately $1,327,392. The disclosure for this sale can be found here. Corporate insiders own 0.69% of the company’s stock.
A number of institutional investors have recently bought and sold shares of RGA. Summit Trail Advisors LLC raised its holdings in Reinsurance Group of America by 8,771.5% in the 1st quarter. Summit Trail Advisors LLC now owns 115,418 shares of the insurance provider’s stock valued at $115,000 after acquiring an additional 114,117 shares in the last quarter. Private Capital Group LLC grew its stake in shares of Reinsurance Group of America by 13,083.3% in the 1st quarter. Private Capital Group LLC now owns 791 shares of the insurance provider’s stock valued at $122,000 after purchasing an additional 785 shares during the period. Robecosam AG bought a new stake in shares of Reinsurance Group of America in the 2nd quarter valued at approximately $133,000. Synovus Financial Corp bought a new stake in shares of Reinsurance Group of America in the 1st quarter valued at approximately $183,000. Finally, Hartford Investment Management Co. bought a new stake in shares of Reinsurance Group of America in the 2nd quarter valued at approximately $209,000. 92.96% of the stock is owned by hedge funds and other institutional investors.
About Reinsurance Group of America
Reinsurance Group of America, Incorporated engages in reinsurance business. It offers individual and group life and health insurance products, including term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products, as well as asset-intensive and financial reinsurance products.
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