Reinsurance Group of America (NYSE:RGA) Announces Quarterly Earnings Results, Beats Estimates By $1.02 EPS

Reinsurance Group of America (NYSE:RGA) posted its earnings results on Thursday. The insurance provider reported $6.13 earnings per share for the quarter, beating the consensus estimate of $5.11 by $1.02, Briefing.com reports. The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.29 billion. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period last year, the firm posted $5.57 EPS.

Reinsurance Group of America Stock Performance

Shares of Reinsurance Group of America stock traded up $4.08 during trading on Friday, hitting $215.17. 924,224 shares of the stock were exchanged, compared to its average volume of 356,851. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.17 and a current ratio of 0.17. Reinsurance Group of America has a 12 month low of $146.16 and a 12 month high of $227.87. The stock’s fifty day moving average is $215.65 and its 200 day moving average is $208.79. The stock has a market cap of $14.17 billion, a PE ratio of 16.41 and a beta of 0.91.

Reinsurance Group of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be given a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.65%. The ex-dividend date is Tuesday, November 12th. Reinsurance Group of America’s dividend payout ratio is presently 27.70%.

Insiders Place Their Bets

In related news, EVP William L. Hutton sold 1,209 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total value of $264,734.73. Following the completion of the transaction, the executive vice president now directly owns 12,357 shares of the company’s stock, valued at $2,705,812.29. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.37% of the stock is owned by insiders.

Wall Street Analyst Weigh In

RGA has been the topic of a number of recent analyst reports. Morgan Stanley reduced their price target on Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Citigroup increased their price objective on shares of Reinsurance Group of America from $194.00 to $252.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Piper Sandler upped their price target on Reinsurance Group of America from $237.00 to $242.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Royal Bank of Canada upped their price objective on shares of Reinsurance Group of America from $225.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, Barclays cut their price target on Reinsurance Group of America from $255.00 to $250.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $226.62.

Reinsurance Group of America Company Profile

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.