TD Cowen Begins Coverage on Reinsurance Group of America (NYSE:RGA)

TD Cowen began coverage on shares of Reinsurance Group of America (NYSE:RGA) in a research note released on Wednesday, MarketBeat Ratings reports. The brokerage issued a hold rating and a $235.00 price target on the insurance provider’s stock.

RGA has been the topic of a number of other research reports. Jefferies Financial Group increased their price objective on Reinsurance Group of America from $63.00 to $64.00 and gave the company a buy rating in a report on Wednesday, July 10th. Evercore ISI raised their price objective on shares of Reinsurance Group of America from $225.00 to $241.00 and gave the stock an outperform rating in a report on Wednesday, June 26th. Keefe, Bruyette & Woods upgraded shares of Reinsurance Group of America from a moderate buy rating to a strong-buy rating in a report on Thursday, October 3rd. Piper Sandler lifted their price target on shares of Reinsurance Group of America from $237.00 to $242.00 and gave the stock an overweight rating in a research note on Wednesday, October 2nd. Finally, StockNews.com raised shares of Reinsurance Group of America from a hold rating to a buy rating in a research report on Friday, September 27th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Reinsurance Group of America currently has an average rating of Moderate Buy and an average price target of $226.62.

Reinsurance Group of America Stock Up 1.0 %

RGA stock opened at $216.35 on Wednesday. The company’s 50 day moving average price is $212.62 and its 200 day moving average price is $206.56. The firm has a market capitalization of $14.23 billion, a price-to-earnings ratio of 16.81 and a beta of 0.91. Reinsurance Group of America has a fifty-two week low of $143.96 and a fifty-two week high of $227.87. 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 (NYSE:RGA) last announced its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 earnings per share for the quarter, beating analysts’ consensus estimates of $4.94 by $0.54. The business had revenue of $4.88 billion for the quarter, compared to analyst estimates of $5.07 billion. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The company’s revenue was up 17.4% on a year-over-year basis. During the same period last year, the business earned $4.40 EPS. On average, equities research analysts anticipate that Reinsurance Group of America will post 21.72 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were paid a dividend of $0.89 per share. The ex-dividend date of this dividend was Friday, August 9th. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 1.65%. Reinsurance Group of America’s dividend payout ratio is currently 27.66%.

Insider Buying and Selling at Reinsurance Group of America

In related news, EVP William L. Hutton sold 1,209 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total transaction of $264,734.73. Following the completion of the sale, the executive vice president now directly owns 12,357 shares of the company’s stock, valued at $2,705,812.29. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.37% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its holdings in Reinsurance Group of America by 8.9% in the third quarter. GAMMA Investing LLC now owns 609 shares of the insurance provider’s stock valued at $133,000 after purchasing an additional 50 shares during the last quarter. GHP Investment Advisors Inc. grew its position in shares of Reinsurance Group of America by 0.7% in the second quarter. GHP Investment Advisors Inc. now owns 9,462 shares of the insurance provider’s stock valued at $1,942,000 after purchasing an additional 62 shares during the last quarter. Covestor Ltd increased its stake in shares of Reinsurance Group of America by 20.3% during the 1st quarter. Covestor Ltd now owns 374 shares of the insurance provider’s stock worth $72,000 after purchasing an additional 63 shares in the last quarter. Fiduciary Family Office LLC raised its position in shares of Reinsurance Group of America by 3.1% during the 2nd quarter. Fiduciary Family Office LLC now owns 2,550 shares of the insurance provider’s stock worth $523,000 after purchasing an additional 76 shares during the last quarter. Finally, Hilltop National Bank increased its position in Reinsurance Group of America by 13.1% during the second quarter. Hilltop National Bank now owns 706 shares of the insurance provider’s stock worth $145,000 after buying an additional 82 shares in the last quarter. Hedge funds and other institutional investors own 95.11% of the company’s stock.

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.