Reinsurance Group of America (NYSE:RGA) Releases Quarterly Earnings Results, Beats Estimates By $0.82 EPS

Reinsurance Group of America (NYSE:RGA) posted its quarterly earnings data on Thursday. The insurance provider reported $6.13 EPS for the quarter, topping analysts’ consensus estimates of $5.31 by $0.82, Briefing.com reports. Reinsurance Group of America had a return on equity of 15.68% and a net margin of 3.32%. The company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.29 billion. During the same quarter in the previous year, the business earned $5.57 EPS. The company’s quarterly revenue was up 9.7% compared to the same quarter last year.

Reinsurance Group of America Stock Performance

Shares of NYSE:RGA opened at $215.10 on Friday. The business has a fifty day moving average of $215.72 and a 200-day moving average of $209.22. 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 twelve month low of $146.16 and a twelve month high of $227.87. The firm has a market cap of $14.17 billion, a PE ratio of 19.75 and a beta of 0.92.

Reinsurance Group of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Tuesday, November 12th. Reinsurance Group of America’s dividend payout ratio is currently 32.69%.

Insider Buying and Selling

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were 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 approximately $2,705,812.29. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.37% of the stock is owned by corporate insiders.

Analyst Ratings Changes

RGA has been the topic of a number of recent analyst reports. Royal Bank of Canada boosted their price target on shares of Reinsurance Group of America from $225.00 to $235.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Barclays cut their target price on shares of 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. Morgan Stanley decreased their target price on Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Citigroup upped their price target on Reinsurance Group of America from $194.00 to $252.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, TD Cowen initiated coverage on Reinsurance Group of America in a research note on Wednesday, October 9th. They issued a “hold” rating and a $235.00 price objective for the company. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.