Reinsurance Group of America, Incorporated Declares Quarterly Dividend of $0.89 (NYSE:RGA)

Reinsurance Group of America, Incorporated (NYSE:RGA) announced a quarterly dividend on Thursday, October 31st, RTT News reports. Stockholders of record on Tuesday, November 12th will be paid a dividend of 0.89 per share by the insurance provider on Tuesday, November 26th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.69%.

Reinsurance Group of America has increased its dividend by an average of 5.6% annually over the last three years and has increased its dividend annually for the last 16 consecutive years. Reinsurance Group of America has a dividend payout ratio of 15.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Reinsurance Group of America to earn $22.50 per share next year, which means the company should continue to be able to cover its $3.56 annual dividend with an expected future payout ratio of 15.8%.

Reinsurance Group of America Stock Performance

RGA opened at $210.89 on Friday. Reinsurance Group of America has a twelve month low of $146.16 and a twelve month high of $227.87. The firm has a market capitalization of $13.89 billion, a PE ratio of 16.41 and a beta of 0.91. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.52. The firm’s 50-day moving average price is $215.65 and its 200 day moving average price is $208.79.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.94 by $0.54. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. The business had revenue of $4.88 billion during the quarter, compared to analyst estimates of $5.07 billion. During the same period in the prior year, the business earned $4.40 earnings per share. The business’s revenue was up 17.4% compared to the same quarter last year. As a group, sell-side analysts expect that Reinsurance Group of America will post 21.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

RGA has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised their target price on Reinsurance Group of America from $220.00 to $222.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. Barclays cut their price objective on shares of Reinsurance Group of America from $255.00 to $250.00 and set an “overweight” rating for the company in a research report on Tuesday, October 8th. Raymond James boosted their target price on shares of Reinsurance Group of America from $228.00 to $250.00 and gave the company a “strong-buy” rating in a report on Tuesday, September 24th. Royal Bank of Canada raised their price target on shares of Reinsurance Group of America from $225.00 to $235.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Finally, Citigroup upped their price objective on Reinsurance Group of America from $194.00 to $252.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Reinsurance Group of America has a consensus rating of “Moderate Buy” and an average price target of $226.62.

Insider Buying and Selling

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of Reinsurance Group of America stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $218.97, for a total value of $264,734.73. Following the completion of the transaction, the executive vice president now directly owns 12,357 shares of the company’s stock, valued at $2,705,812.29. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.37% of the stock is owned by corporate insiders.

About Reinsurance Group of America

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.