Wall Street analysts expect Reinsurance Group of America Inc (NYSE:RGA) to report earnings per share of $2.71 for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Reinsurance Group of America’s earnings. The highest EPS estimate is $2.78 and the lowest is $2.63. Reinsurance Group of America posted earnings of $1.61 per share in the same quarter last year, which would suggest a positive year over year growth rate of 68.3%. The business is scheduled to announce its next earnings report on Thursday, April 25th.
According to Zacks, analysts expect that Reinsurance Group of America will report full year earnings of $13.13 per share for the current fiscal year, with EPS estimates ranging from $13.01 to $13.25. For the next fiscal year, analysts anticipate that the company will post earnings of $14.08 per share, with EPS estimates ranging from $14.01 to $14.15. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover Reinsurance Group of America.
Get Reinsurance Group of America alerts:Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Monday, January 28th. The insurance provider reported $3.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.38 by $0.08. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.26 billion. Reinsurance Group of America had a net margin of 5.56% and a return on equity of 9.11%. The business’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.60 earnings per share.
RGA has been the topic of a number of analyst reports. Morgan Stanley lifted their price objective on shares of Reinsurance Group of America from $131.00 to $134.00 and gave the company an “underweight” rating in a research note on Tuesday, November 13th. Royal Bank of Canada upgraded shares of Reinsurance Group of America from a “sector perform” rating to an “outperform” rating and set a $165.00 price objective on the stock in a research note on Tuesday, December 11th. Finally, Zacks Investment Research lowered shares of Reinsurance Group of America from a “hold” rating to a “sell” rating in a research note on Friday, February 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Reinsurance Group of America presently has a consensus rating of “Hold” and a consensus price target of $144.83.
Shares of RGA traded down $0.96 during mid-day trading on Friday, reaching $143.01. 232,913 shares of the stock traded hands, compared to its average volume of 362,363. The firm has a market capitalization of $8.95 billion, a P/E ratio of 11.80 and a beta of 0.68. Reinsurance Group of America has a 12-month low of $127.84 and a 12-month high of $163.00. The company has a quick ratio of 0.12, a current ratio of 0.13 and a debt-to-equity ratio of 0.33.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 28th. Investors of record on Thursday, February 7th were paid a $0.60 dividend. The ex-dividend date was Wednesday, February 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.68%. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 19.80%.
Reinsurance Group of America announced that its Board of Directors has initiated a share repurchase program on Monday, January 28th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the insurance provider to buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
In related news, Director Alan C. Henderson sold 947 shares of Reinsurance Group of America stock in a transaction on Wednesday, February 13th. The shares were sold at an average price of $145.00, for a total value of $137,315.00. Following the completion of the sale, the director now owns 18,915 shares in the company, valued at $2,742,675. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Todd C. Larson sold 4,836 shares of Reinsurance Group of America stock in a transaction on Friday, February 15th. The stock was sold at an average price of $144.39, for a total transaction of $698,270.04. Following the completion of the sale, the chief financial officer now owns 32,079 shares of the company’s stock, valued at approximately $4,631,886.81. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 400 shares of company stock valued at $53,620 and sold 11,533 shares valued at $1,662,897. 0.69% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. Oregon Public Employees Retirement Fund increased its stake in shares of Reinsurance Group of America by 13,803.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,536,741 shares of the insurance provider’s stock worth $25,000 after buying an additional 3,511,304 shares during the last quarter. Riverview Trust Co bought a new stake in shares of Reinsurance Group of America in the fourth quarter worth $32,000. FTB Advisors Inc. increased its stake in shares of Reinsurance Group of America by 43.4% in the fourth quarter. FTB Advisors Inc. now owns 327 shares of the insurance provider’s stock worth $44,000 after buying an additional 99 shares during the last quarter. JOYN Advisors Inc. boosted its holdings in Reinsurance Group of America by 68.9% in the fourth quarter. JOYN Advisors Inc. now owns 434 shares of the insurance provider’s stock worth $61,000 after purchasing an additional 177 shares during the period. Finally, Rehmann Capital Advisory Group boosted its holdings in Reinsurance Group of America by 16.2% in the fourth quarter. Rehmann Capital Advisory Group now owns 652 shares of the insurance provider’s stock worth $91,000 after purchasing an additional 91 shares during the period. Institutional investors and hedge funds own 91.41% of the company’s stock.
About Reinsurance Group of America
Reinsurance Group of America, Incorporated engages in reinsurance business. It offers individual and group life and health insurance products, including term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products, as well as asset-intensive and financial reinsurance products.
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