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

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

Reinsurance Group of America Trading Up 0.1%

Shares of RGA traded up $0.14 during mid-day trading on Thursday, hitting $236.51. The company had a trading volume of 273,219 shares, compared to its average volume of 373,143. The business’s 50-day simple moving average is $220.84 and its 200-day simple moving average is $213.00. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.46. Reinsurance Group of America has a 1-year low of $178.21 and a 1-year high of $245.00. The stock has a market cap of $15.49 billion, a PE ratio of 12.81 and a beta of 0.47.

Wall Street Analysts Forecast Growth

RGA has been the topic of several analyst reports. TD Cowen raised their price target on shares of Reinsurance Group of America from $212.00 to $235.00 and gave the stock a “hold” rating in a research note on Wednesday, July 22nd. Barclays lifted their target price on shares of Reinsurance Group of America from $268.00 to $278.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Piper Sandler cut their price target on Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Evercore reissued an “outperform” rating and set a $267.00 price target on shares of Reinsurance Group of America in a research note on Monday, May 18th. Finally, Wall Street Zen upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.00.

Insider Activity at Reinsurance Group of America

In related news, EVP Ronald Herrmann sold 7,000 shares of the company’s stock in a transaction that occurred 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 owned 3,938 shares of the company’s stock, valued at approximately $829,264.04. This represents a 64.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John W. Hayden sold 414 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total transaction of $88,989.30. Following the transaction, the executive vice president directly owned 20,949 shares in the company, valued at approximately $4,502,987.55. This represents a 1.94% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RGA. Advisory Services Network LLC purchased a new stake in Reinsurance Group of America during the third quarter valued at about $38,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Reinsurance Group of America in the 3rd quarter valued at about $44,000. Larson Financial Group LLC lifted its stake in shares of Reinsurance Group of America by 2,533.3% in the 3rd quarter. Larson Financial Group LLC now owns 237 shares of the insurance provider’s stock valued at $46,000 after purchasing an additional 228 shares in the last quarter. BOKF NA grew its holdings in shares of Reinsurance Group of America by 91.3% during the 3rd quarter. BOKF NA now owns 373 shares of the insurance provider’s stock worth $72,000 after purchasing an additional 178 shares during the period. Finally, Geneos Wealth Management Inc. grew its holdings 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 period. 95.11% of the stock is owned by hedge funds and other institutional investors.

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.