Reinsurance Group of America, Incorporated (NYSE:RGA) Plans $0.85 Quarterly Dividend

Reinsurance Group of America, Incorporated (NYSE:RGA) announced a quarterly dividend on Friday, May 3rd, Wall Street Journal reports. Investors of record on Tuesday, May 14th will be paid a dividend of 0.85 per share by the insurance provider on Tuesday, May 28th. This represents a $3.40 annualized dividend and a yield of 1.69%. The ex-dividend date is Monday, May 13th.

Reinsurance Group of America has increased its dividend by an average of 5.6% per year over the last three years and has increased its dividend annually for the last 15 consecutive years. Reinsurance Group of America has a payout ratio of 15.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Reinsurance Group of America to earn $21.16 per share next year, which means the company should continue to be able to cover its $3.40 annual dividend with an expected future payout ratio of 16.1%.

Reinsurance Group of America Stock Performance

Shares of RGA stock traded up $10.59 during trading hours on Friday, reaching $201.77. 810,552 shares of the company’s stock were exchanged, compared to its average volume of 357,555. The business has a fifty day moving average price of $186.04 and a 200-day moving average price of $170.47. The stock has a market capitalization of $13.27 billion, a P/E ratio of 15.01 and a beta of 0.88. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.48. Reinsurance Group of America has a fifty-two week low of $133.13 and a fifty-two week high of $202.06.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Thursday, May 2nd. The insurance provider reported $6.02 EPS for the quarter, beating the consensus estimate of $4.51 by $1.51. The firm had revenue of $6.34 billion during the quarter, compared to analysts’ expectations of $4.54 billion. Reinsurance Group of America had a net margin of 4.86% and a return on equity of 16.20%. During the same period in the prior year, the company earned $5.16 EPS. Analysts predict that Reinsurance Group of America will post 19.41 EPS for the current fiscal year.

Analysts Set New Price Targets

RGA has been the topic of a number of recent research reports. Piper Sandler boosted their price target on Reinsurance Group of America from $195.00 to $220.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Keefe, Bruyette & Woods boosted their price objective on Reinsurance Group of America from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $212.00 target price on shares of Reinsurance Group of America in a research report on Friday, April 12th. Wells Fargo & Company boosted their price target on shares of Reinsurance Group of America from $193.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, Evercore ISI raised their price objective on shares of Reinsurance Group of America from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $194.85.

Insider Activity at Reinsurance Group of America

In other Reinsurance Group of America news, CFO Todd C. Larson sold 2,966 shares of Reinsurance Group of America stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $182.88, for a total transaction of $542,422.08. Following the transaction, the chief financial officer now directly owns 49,549 shares in the company, valued at $9,061,521.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Reinsurance Group of America news, EVP William L. Hutton sold 1,908 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $181.84, for a total transaction of $346,950.72. Following the completion of the transaction, the executive vice president now owns 13,363 shares in the company, valued at approximately $2,429,927.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Todd C. Larson sold 2,966 shares of Reinsurance Group of America stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $182.88, for a total value of $542,422.08. Following the completion of the sale, the chief financial officer now directly owns 49,549 shares in the company, valued at approximately $9,061,521.12. The disclosure for this sale can be found here. Insiders sold a total of 6,462 shares of company stock worth $1,162,239 in the last quarter. Corporate insiders own 1.37% 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.