Reinsurance Group of America (NYSE:RGA) Upgraded by UBS Group to “Strong-Buy” Rating

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

Several other brokerages have also recently issued reports on RGA. Evercore reiterated an “outperform” rating and set a $267.00 price target on shares of Reinsurance Group of America in a research report on Monday, May 18th. TD Cowen upped their price objective on Reinsurance Group of America from $212.00 to $235.00 and gave the company a “hold” rating in a report on Wednesday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Reinsurance Group of America in a research note on Wednesday, May 13th. Wells Fargo & Company lifted their target price on Reinsurance Group of America from $261.00 to $269.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Finally, Wall Street Zen upgraded shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Reinsurance Group of America has a consensus rating of “Moderate Buy” and a consensus price target of $255.00.

Reinsurance Group of America Trading Up 2.0%

Shares of NYSE:RGA opened at $238.93 on Friday. The company has a 50 day moving average of $216.78 and a 200-day moving average of $210.82. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46. The firm has a market cap of $15.65 billion, a P/E ratio of 12.94 and a beta of 0.47. Reinsurance Group of America has a twelve month low of $165.52 and a twelve month high of $245.00.

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

Reinsurance Group of America Dividend Announcement

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

Insider Activity at Reinsurance Group of America

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

Institutional Trading of Reinsurance Group of America

Institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its position in Reinsurance Group of America by 44.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 221,198 shares of the insurance provider’s stock worth $43,554,000 after purchasing an additional 67,880 shares during the last quarter. Focus Partners Wealth lifted its holdings in shares of Reinsurance Group of America by 121.2% during the 1st quarter. Focus Partners Wealth now owns 2,676 shares of the insurance provider’s stock valued at $527,000 after buying an additional 1,466 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Reinsurance Group of America by 17.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 388 shares of the insurance provider’s stock valued at $76,000 after buying an additional 58 shares during the last quarter. Gabelli Funds LLC bought a new stake in shares of Reinsurance Group of America in the 2nd quarter valued at approximately $1,006,000. Finally, Cerity Partners LLC grew its stake in shares of Reinsurance Group of America by 15.5% in the 2nd quarter. Cerity Partners LLC now owns 33,716 shares of the insurance provider’s stock valued at $6,688,000 after buying an additional 4,527 shares in the last quarter. Institutional investors and hedge funds 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.