Reinsurance Group of America (NYSE:RGA) Stock Rating Reaffirmed by 58.com

58.com reissued their maintains rating on shares of Reinsurance Group of America (NYSE:RGA – Get Rating) in a report released on Wednesday morning, Benzinga reports.

RGA has been the subject of several other reports. Citigroup raised shares of Reinsurance Group of America from a sell rating to a buy rating and raised their target price for the company from $133.00 to $158.00 in a research note on Wednesday, March 15th. Royal Bank of Canada cut their target price on shares of Reinsurance Group of America from $170.00 to $164.00 and set an outperform rating for the company in a research note on Thursday, April 20th. Credit Suisse Group raised their target price on shares of Reinsurance Group of America from $144.00 to $152.00 in a research note on Wednesday. Wells Fargo & Company started coverage on shares of Reinsurance Group of America in a research note on Tuesday, April 25th. They set an overweight rating and a $163.00 target price for the company. Finally, Barclays raised their target price on shares of Reinsurance Group of America from $146.00 to $149.00 in a research note on Tuesday, May 9th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $156.60.

Reinsurance Group of America Price Performance

Shares of NYSE:RGA traded down $0.03 during trading on Wednesday, hitting $143.67. 335,206 shares of the company’s stock were exchanged, compared to its average volume of 424,525. The business’s 50-day simple moving average is $139.08 and its 200 day simple moving average is $141.51. The company has a market cap of $9.56 billion, a price-to-earnings ratio of 10.37 and a beta of 0.91. Reinsurance Group of America has a 52-week low of $109.06 and a 52-week high of $153.35. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.14 and a quick ratio of 0.14.

Reinsurance Group of America (NYSE:RGA – Get Rating) last released its quarterly earnings data on Friday, May 5th. The insurance provider reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.37 by $1.79. Reinsurance Group of America had a net margin of 5.66% and a return on equity of 23.94%. The firm had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.23 billion. During the same quarter last year, the business posted $0.47 earnings per share. As a group, equities analysts predict that Reinsurance Group of America will post 17.74 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 30th. Stockholders of record on Tuesday, May 16th will be issued a $0.80 dividend. The ex-dividend date is Monday, May 15th. This represents a $3.20 annualized dividend and a dividend yield of 2.23%. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 23.10%.

Insider Transactions at Reinsurance Group of America

In other news, EVP William L. Hutton sold 1,952 shares of the firm’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $150.03, for a total value of $292,858.56. Following the completion of the sale, the executive vice president now owns 13,970 shares in the company, valued at approximately $2,095,919.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Todd C. Larson sold 1,018 shares of Reinsurance Group of America stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $148.96, for a total transaction of $151,641.28. Following the completion of the sale, the chief financial officer now owns 44,260 shares in the company, valued at approximately $6,592,969.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP William L. Hutton sold 1,952 shares of Reinsurance Group of America stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $150.03, for a total transaction of $292,858.56. Following the sale, the executive vice president now owns 13,970 shares of the company’s stock, valued at approximately $2,095,919.10. The disclosure for this sale can be found here. Company insiders own 1.31% of the company’s stock.

Institutional Investors Weigh In On Reinsurance Group of America

Several large investors have recently modified their holdings of RGA. JPMorgan Chase & Co. raised its holdings in shares of Reinsurance Group of America by 27.3% in the 1st quarter. JPMorgan Chase & Co. now owns 132,902 shares of the insurance provider’s stock valued at $14,548,000 after purchasing an additional 28,536 shares in the last quarter. Private Advisor Group LLC raised its holdings in shares of Reinsurance Group of America by 13.0% in the 1st quarter. Private Advisor Group LLC now owns 2,817 shares of the insurance provider’s stock valued at $309,000 after purchasing an additional 324 shares in the last quarter. Great West Life Assurance Co. Can raised its holdings in shares of Reinsurance Group of America by 11.6% in the 1st quarter. Great West Life Assurance Co. Can now owns 39,323 shares of the insurance provider’s stock valued at $4,428,000 after purchasing an additional 4,073 shares in the last quarter. Baird Financial Group Inc. grew its position in shares of Reinsurance Group of America by 20.9% in the 1st quarter. Baird Financial Group Inc. now owns 10,421 shares of the insurance provider’s stock worth $1,141,000 after buying an additional 1,799 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its position in shares of Reinsurance Group of America by 47.8% in the 1st quarter. Parkside Financial Bank & Trust now owns 368 shares of the insurance provider’s stock worth $40,000 after buying an additional 119 shares during the last quarter. Institutional investors own 96.46% of the company’s stock.

Reinsurance Group of America Company Profile

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Reinsurance Group of America, Inc is a holding company, which engages in the provision of traditional and non-traditional life and health reinsurance products. It operates through the following segments: U.S. and Latin America, Canada, Europe, Middle East, and Africa, Asia Pacific, and Corporate and Other.