Reinsurance Group of America (NYSE:RGA) Releases Quarterly Earnings Results, Beats Estimates By $1.52 EPS

Reinsurance Group of America (NYSE:RGA) issued its quarterly earnings results on Thursday. The insurance provider reported $8.49 EPS for the quarter, topping the consensus estimate of $6.97 by $1.52, FiscalAI reports. Reinsurance Group of America had a return on equity of 14.78% and a net margin of 5.81%. The firm had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $6.69 billion. During the same period in the previous year, the business earned $6.37 earnings per share.

Reinsurance Group of America Stock Performance

NYSE:RGA opened at $261.61 on Friday. The stock has a 50-day simple moving average of $255.16 and a two-hundred day simple moving average of $226.33. The firm has a market capitalization of $17.08 billion, a PE ratio of 8.92 and a beta of 0.43. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.14 and a current ratio of 0.14. Reinsurance Group of America has a 52-week low of $182.73 and a 52-week high of $272.44.

Reinsurance Group of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, November 17th will be given a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, November 17th. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 17.22%.

Insider Buying and Selling

In other news, EVP Jonathan Porter sold 8,589 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $246.30, for a total transaction of $2,115,470.70. Following the completion of the transaction, the executive vice president directly owned 14,885 shares in the company, valued at $3,666,175.50. This trade represents a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Barclays set a $292.00 target price on Reinsurance Group of America in a research note on Thursday, October 8th. Weiss Ratings restated a “buy (b)” rating on shares of Reinsurance Group of America in a research report on Wednesday. JPMorgan Chase & Co. raised their target price on shares of Reinsurance Group of America from $293.00 to $297.00 and gave the stock an “overweight” rating in a research note on Thursday, October 15th. TD Cowen lifted their price target on shares of Reinsurance Group of America from $235.00 to $250.00 and gave the company a “hold” rating in a research note on Wednesday, October 21st. Finally, Wells Fargo & Company lifted their price objective on Reinsurance Group of America from $291.00 to $292.00 and gave the company an “overweight” rating in a research note on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Reinsurance Group of America currently has a consensus rating of “Buy” and a consensus target price of $273.75.

More Reinsurance Group of America News

Here are the key news stories impacting Reinsurance Group of America this week:

• Positive Sentiment: RGA earned $8.49 per share, topping consensus estimates of about $6.97 and rising from $6.37 a year earlier. Revenue of $7.55 billion also exceeded estimates of $6.69 billion. Article: Reinsurance Group Tops Q3 Earnings and Revenue Estimates
• Neutral Sentiment: The company declared a $0.98 dividend, providing income for shareholders; the announcement did not specify a change to the payout. Article: Reinsurance Group of America Declares $0.98 Dividend

About Reinsurance Group of America

Reinsurance Group of America, Incorporated (NYSE:RGA) is a global provider of life and health reinsurance. The company works with insurance carriers to help them manage mortality, longevity, morbidity and other insurance risks, while supporting the development and distribution of life and health insurance products.

RGA’s offerings include traditional life reinsurance, including term, whole life and universal life coverage, as well as health reinsurance and financial solutions. Its financial solutions business provides capital management, asset-intensive reinsurance, longevity and other risk-management arrangements designed to help insurers manage their balance sheets and meet changing customer and regulatory needs.

Founded in 1973 as part of General American Life Insurance Company, RGA became an independent public company in 1993.