Reinsurance Group of America (NYSE:RGA) Shares Gap Down After Earnings Miss

Reinsurance Group of America, Incorporated (NYSE:RGA)’s stock price gapped down before the market opened on Friday following a weaker than expected earnings announcement. The stock had previously closed at $230.49, but opened at $214.19. Reinsurance Group of America shares last traded at $214.62, with a volume of 308,741 shares.

The insurance provider reported $4.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.22 by ($0.23). Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%.

Reinsurance Group of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.67%. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 32.69%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on RGA shares. StockNews.com raised Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Wells Fargo & Company raised their target price on Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Barclays lowered their price target on shares of Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Royal Bank of Canada lifted their price objective on shares of Reinsurance Group of America from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Finally, JPMorgan Chase & Co. upped their target price on shares of Reinsurance Group of America from $227.00 to $232.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $228.31.

Hedge Funds Weigh In On Reinsurance Group of America

Several hedge funds have recently made changes to their positions in RGA. Eagle Asset Management Inc. boosted its holdings in Reinsurance Group of America by 15.7% during the third quarter. Eagle Asset Management Inc. now owns 112,901 shares of the insurance provider’s stock worth $25,297,000 after buying an additional 15,289 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Reinsurance Group of America by 4.8% during the 4th quarter. Nordea Investment Management AB now owns 89,837 shares of the insurance provider’s stock worth $19,232,000 after acquiring an additional 4,119 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Reinsurance Group of America by 7.9% in the 3rd quarter. Franklin Resources Inc. now owns 77,516 shares of the insurance provider’s stock worth $16,862,000 after acquiring an additional 5,699 shares during the last quarter. Consolidated Planning Corp acquired a new stake in shares of Reinsurance Group of America during the third quarter worth $737,000. Finally, Park Avenue Securities LLC lifted its holdings in shares of Reinsurance Group of America by 21.2% during the fourth quarter. Park Avenue Securities LLC now owns 15,744 shares of the insurance provider’s stock valued at $3,363,000 after purchasing an additional 2,759 shares during the last quarter. Institutional investors and hedge funds own 95.11% of the company’s stock.

Reinsurance Group of America Price Performance

The stock has a 50-day moving average of $219.12 and a two-hundred day moving average of $217.48. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.45. The firm has a market cap of $14.02 billion, a price-to-earnings ratio of 19.64 and a beta of 0.93.

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.