Stocks of Reinsurance Group of America Incorporated (NYSE:RGA) traded higher last session on Wall Street, up 0.19% to $143.35.
According to the data, Reinsurance Group of America Incorporated (NYSE:RGA) has 13 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $170.00 and a low of $116.00, we find $165.00. Given the previous closing price of $143.08, this indicates a potential upside of 15.32 percent. RGA stock price is now 1.46% away from the 50-day moving average and 12.39% away from the 200-day moving average. The market capitalization of the company currently stands at $9.42B.
A total of 5 analysts have issued a hold rating and 7 have given it a buy rating. Brokers who have rated the stock have averaged $156.69 as their price target over the next twelve months.
With the price target enhanced from $148 to $167, Evercore ISI Upgraded its rating from In-line to Outperform for Reinsurance Group of America Incorporated (NYSE: RGA). On December 06, 2022, RBC Capital Mkts Upgraded its previous ‘Sector Perform’ rating to ‘Outperform’ on the stock increasing its target price from $145 to quote $170, while ‘JP Morgan’ rates the stock as ‘Neutral’.
In other news, LARSON TODD C, SEVP, Chief Financial Officer sold 2,729 shares of the company’s stock on Aug 12. The stock was sold for $357,899 at an average price of $131.15. Upon completion of the transaction, the SEVP, Chief Financial Officer now directly owns 36,921 shares in the company, valued at $5.29 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 10, Director Detrick Christine Rose sold 4,300 shares of the business’s stock. A total of $487,369 was realized by selling the stock at an average price of $113.34. This leaves the insider owning 1,618 shares of the company worth $0.23 million. Insiders disposed of 21,646 shares of company stock worth roughly $3.1 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in RGA stock. A new stake in Reinsurance Group of America Incorporated shares was purchased by BAIN CAPITAL PUBLIC EQUITY MANAGEMENT II, LLC during the first quarter worth $18,885,000. MESIROW INSTITUTIONAL INVESTMENT MANAGEMENT, INC. invested $15,535,000 in shares of RGA during the first quarter. In the first quarter, HANDELSINVEST INVESTERINGSFORVALTNING acquired a new stake in Reinsurance Group of America Incorporated valued at approximately $12,185,000. NORDEA INVESTMENT MANAGEMENT AB acquired a new stake in RGA for approximately $9,251,000. TAIKA CAPITAL, LP purchased a new stake in RGA valued at around $9,017,000 in the second quarter. In total, there are 555 active investors with 99.30% ownership of the company’s stock.
Monday’s opening bell rang with an opening price of $143.08 for Reinsurance Group of America Incorporated (NYSE: RGA). During the past 12 months, Reinsurance Group of America Incorporated has had a low of $97.61 and a high of $148.75. The fifty day moving average price for RGA is $141.29 and a two-hundred day moving average price translates $127.72 for the stock.
The latest earnings results from Reinsurance Group of America Incorporated (NYSE: RGA) was released for Jun, 2022. According to the Insurance – Reinsurance Company, earnings per share came in at $5.78, beating analysts’ expectations of $2.77 by 3.01. This compares to -$0.32 EPS in the same period last year. The net profit margin was 3.50% and return on equity was 7.30% for RGA. The company reported revenue of $4.07 billion for the quarter, compared to $4.04 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 0.57 percent. For the current quarter, analysts expect RGA to generate $4.01B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 11/29/2022. Investors who held shares on 11/15/2022 were paid a $0.80 dividend. On an annualized basis, this represents a $3.20 dividend and a 2.23% percent yield. There was an ex-dividend date of 11/14/2022 for this dividend. In terms of dividend payout ratio, RGA is presently at 34.90%.
Reinsurance Group of America Incorporated(RGA) Company Profile
Reinsurance Group of America, Incorporated engages in reinsurance business. It 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. The company also provides reinsurance for mortality, morbidity, lapse, and investment-related risk associated with products; and reinsurance for investment-related risks. In addition, it develops and markets technology solutions; and provides consulting and outsourcing solutions for the insurance and reinsurance industries. The company serves life insurance companies in the United States, Latin America, Canada, Europe, the Middle East, Africa, Australia, and the Asia Pacific. Reinsurance Group of America, Incorporated was founded in 1973 and is headquartered in Chesterfield, Missouri.