Reinsurance Group of America Inc (NYSE:RGA) declared a quarterly dividend on Monday, January 29th, RTT News reports. Shareholders of record on Thursday, February 8th will be paid a dividend of 0.50 per share by the insurance provider on Thursday, March 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Wednesday, February 7th.
Reinsurance Group of America has raised its dividend payment by an average of 13.0% per year over the last three years and has increased its dividend annually for the last 7 consecutive years. Reinsurance Group of America has a payout ratio of 18.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Reinsurance Group of America to earn $13.36 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 15.0%.
Reinsurance Group of America (NYSE RGA) opened at $152.76 on Tuesday. Reinsurance Group of America has a 52-week low of $121.93 and a 52-week high of $165.12. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.11 and a quick ratio of 0.11. The firm has a market capitalization of $10,020.35, a PE ratio of 14.33, a price-to-earnings-growth ratio of 1.39 and a beta of 0.75.
Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Monday, January 29th. The insurance provider reported $2.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.84 by ($0.24). Reinsurance Group of America had a return on equity of 8.62% and a net margin of 14.56%. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.22 billion. During the same period last year, the firm posted $2.92 EPS. Reinsurance Group of America’s quarterly revenue was up 5.3% compared to the same quarter last year. equities analysts forecast that Reinsurance Group of America will post 12.45 earnings per share for the current year.
In other news, EVP John P. Laughlin, Jr. sold 500 shares of the company’s stock in a transaction dated Tuesday, December 26th. The shares were sold at an average price of $155.60, for a total transaction of $77,800.00. Following the completion of the sale, the executive vice president now owns 26,777 shares of the company’s stock, valued at approximately $4,166,501.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.76% of the stock is owned by corporate insiders.
Several research firms have recently commented on RGA. Wells Fargo & Co reaffirmed a “market perform” rating and set a $165.00 price target (up previously from $160.00) on shares of Reinsurance Group of America in a research report on Wednesday, January 31st. Zacks Investment Research raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating and set a $174.00 price target for the company in a research report on Thursday, January 4th. Royal Bank of Canada reaffirmed a “hold” rating and set a $165.00 price target on shares of Reinsurance Group of America in a research report on Friday, December 8th. Citigroup set a $171.00 price target on shares of Reinsurance Group of America and gave the company a “buy” rating in a research report on Tuesday, November 21st. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $148.00 price target on shares of Reinsurance Group of America in a research report on Friday, November 10th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $150.43.
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About Reinsurance Group of America
Reinsurance Group of America, Incorporated (RGA) is an insurance holding company. The Company provides traditional life and health reinsurance and financial solutions with operations in the United States, Latin America, Canada, Europe, Africa, Asia and Australia. It has geographic-based and business-based operational segments, including U.S.
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