Reinsurance Group of America (NYSE:RGA) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Reinsurance Group of America (NYSE:RGA) from a buy rating to a hold rating in a report released on Saturday morning.

Other research analysts also recently issued research reports about the company. Barclays raised their price objective on Reinsurance Group of America from $245.00 to $256.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Piper Sandler reissued an “overweight” rating and set a $263.00 target price on shares of Reinsurance Group of America in a research note on Friday, February 6th. Morgan Stanley lifted their target price on Reinsurance Group of America from $208.00 to $223.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 3rd. UBS Group lifted their target price on Reinsurance Group of America from $216.00 to $220.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Reinsurance Group of America in a research note on Monday, December 29th. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $246.71.

Reinsurance Group of America Stock Up 0.6%

NYSE RGA opened at $206.22 on Friday. The stock’s 50-day moving average price is $210.30 and its 200-day moving average price is $200.29. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.42. Reinsurance Group of America has a 52 week low of $165.52 and a 52 week high of $229.21. The company has a market capitalization of $13.51 billion, a P/E ratio of 11.62 and a beta of 0.52.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Thursday, February 5th. The insurance provider reported $7.75 EPS for the quarter, topping the consensus estimate of $5.86 by $1.89. Reinsurance Group of America had a return on equity of 12.99% and a net margin of 4.99%.The firm had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.25 billion. During the same quarter last year, the company earned $4.99 earnings per share. The business’s revenue for the quarter was up 26.6% compared to the same quarter last year. On average, equities research analysts predict that Reinsurance Group of America will post 22.9 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 3rd. Investors of record on Tuesday, February 17th were paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Tuesday, February 17th. Reinsurance Group of America’s dividend payout ratio (DPR) is 20.96%.

Institutional Trading of Reinsurance Group of America

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its holdings in Reinsurance Group of America by 148.4% during the 4th quarter. AQR Capital Management LLC now owns 1,652,102 shares of the insurance provider’s stock valued at $336,137,000 after buying an additional 987,014 shares in the last quarter. Norges Bank purchased a new position in Reinsurance Group of America during the 4th quarter valued at approximately $173,767,000. Orion Porfolio Solutions LLC grew its holdings in Reinsurance Group of America by 6,076.4% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 602,503 shares of the insurance provider’s stock valued at $119,512,000 after buying an additional 592,748 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in Reinsurance Group of America during the 2nd quarter valued at approximately $69,426,000. Finally, American Century Companies Inc. grew its holdings in Reinsurance Group of America by 15.9% during the 3rd quarter. American Century Companies Inc. now owns 2,369,057 shares of the insurance provider’s stock valued at $455,167,000 after buying an additional 324,239 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.