Reinsurance Group of America (NYSE:RGA) Announces Earnings Results, Beats Expectations By $2.39 EPS

Reinsurance Group of America (NYSE:RGA) issued its quarterly earnings results on Thursday. The insurance provider reported $8.89 EPS for the quarter, topping the consensus estimate of $6.50 by $2.39, FiscalAI reports. The firm had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.67 billion. Reinsurance Group of America had a net margin of 4.92% and a return on equity of 13.16%.

Reinsurance Group of America Trading Up 0.1%

RGA stock traded up $0.14 during midday trading on Thursday, reaching $236.51. 273,219 shares of the company’s stock traded hands, compared to its average volume of 373,142. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.14 and a quick ratio of 0.14. Reinsurance Group of America has a fifty-two week low of $178.21 and a fifty-two week high of $245.00. The business has a 50-day moving average price of $220.84 and a two-hundred day moving average price of $213.00. The company has a market capitalization of $15.49 billion, a P/E ratio of 12.81 and a beta of 0.47.

Insider Buying and Selling at Reinsurance Group of America

In other news, EVP John W. Hayden sold 414 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $214.95, for a total value of $88,989.30. Following the completion of the sale, the executive vice president owned 20,949 shares of the company’s stock, valued at $4,502,987.55. This represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ronald Herrmann sold 7,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $210.58, for a total transaction of $1,474,060.00. Following the completion of the transaction, the executive vice president directly owned 3,938 shares in the company, valued at approximately $829,264.04. This represents a 64.00% decrease in their position. The SEC filing for this sale provides additional information. 0.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Securities Inc. boosted its holdings in shares of Reinsurance Group of America by 3.6% in the 4th quarter. Principal Securities Inc. now owns 1,490 shares of the insurance provider’s stock valued at $303,000 after buying an additional 52 shares during the last quarter. Rehmann Capital Advisory Group lifted its stake in Reinsurance Group of America by 1.3% in the third quarter. Rehmann Capital Advisory Group now owns 4,281 shares of the insurance provider’s stock valued at $819,000 after acquiring an additional 54 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in shares of Reinsurance Group of America by 6.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 974 shares of the insurance provider’s stock valued at $198,000 after acquiring an additional 56 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of Reinsurance Group of America by 17.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 388 shares of the insurance provider’s stock worth $76,000 after purchasing an additional 58 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Reinsurance Group of America by 12.4% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 579 shares of the insurance provider’s stock valued at $111,000 after purchasing an additional 64 shares during the period. Institutional investors and hedge funds own 95.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on RGA shares. Wall Street Zen upgraded shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. TD Cowen upped their price objective on Reinsurance Group of America from $212.00 to $235.00 and gave the stock a “hold” rating in a report on Wednesday, July 22nd. Barclays increased their target price on Reinsurance Group of America from $268.00 to $278.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Piper Sandler reduced their target price on Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Finally, Wells Fargo & Company boosted their price target on Reinsurance Group of America from $261.00 to $269.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $255.00.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.