Reinsurance Group of America (NYSE:RGA – Get Free Report) released its quarterly earnings data on Thursday. The insurance provider reported $8.49 EPS for the quarter, topping the consensus estimate of $6.97 by $1.52, FiscalAI reports. Reinsurance Group of America had a return on equity of 14.78% and a net margin of 5.81%. The firm had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $6.69 billion. During the same quarter in the previous year, the business earned $6.37 earnings per share.
Reinsurance Group of America Trading Down 1.8%
RGA stock traded down $4.92 on Thursday, reaching $261.74. The company’s stock had a trading volume of 514,266 shares, compared to its average volume of 479,186. The firm has a market cap of $17.09 billion, a PE ratio of 8.89 and a beta of 0.43. The business has a fifty day simple moving average of $254.85 and a two-hundred day simple moving average of $225.99. Reinsurance Group of America has a 12-month low of $182.73 and a 12-month high of $272.44. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.14 and a current ratio of 0.14.
Insider Transactions at Reinsurance Group of America
In other Reinsurance Group of America news, EVP Jonathan Porter sold 8,589 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $246.30, for a total value of $2,115,470.70. Following the completion of the transaction, the executive vice president directly owned 14,885 shares in the company, valued at approximately $3,666,175.50. This represents a 36.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.60% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts recently issued reports on the company. Barclays set a $292.00 price target on Reinsurance Group of America in a research report on Thursday, October 8th. TD Cowen upped their price target on shares of Reinsurance Group of America from $235.00 to $250.00 and gave the company a “hold” rating in a report on Wednesday, October 21st. JPMorgan Chase & Co. increased their price target on shares of Reinsurance Group of America from $293.00 to $297.00 and gave the company an “overweight” rating in a research report on Thursday, October 15th. UBS Group raised shares of Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. Finally, Wells Fargo & Company boosted their price objective on shares of Reinsurance Group of America from $291.00 to $292.00 and gave the company an “overweight” rating in a research report on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $273.75.
Check Out Our Latest Research Report on RGA
About Reinsurance Group of America
Reinsurance Group of America, Incorporated (NYSE:RGA) is a global provider of life and health reinsurance. The company works with insurance carriers to help them manage mortality, longevity, morbidity and other insurance risks, while supporting the development and distribution of life and health insurance products.
RGA’s offerings include traditional life reinsurance, including term, whole life and universal life coverage, as well as health reinsurance and financial solutions. Its financial solutions business provides capital management, asset-intensive reinsurance, longevity and other risk-management arrangements designed to help insurers manage their balance sheets and meet changing customer and regulatory needs.
Founded in 1973 as part of General American Life Insurance Company, RGA became an independent public company in 1993.
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