#2 - Reinsurance Group of America (NYSE:RGA)
In times of market volatility, defensive stocks play very well. And with Reinsurance Group of America (NYSE: RGA), you’re making an investment in the aging of America. The company provides insurance for insurance companies (i.e. reinsurance).
One of the most basic examples of why an insurance company may need reinsurance is when a natural disaster occurs. Reinsurance Group focuses on areas such as life and health insurance including in areas like critical illness and disability. The company’s goal is to assist in making health care affordable for all.
A key metric that investors look at is the price-to-earnings (P/E) ratio. RGA checks in with a P/E ratio of around 17x earnings which is in line with the sector averages. The stock was up 29% in 2022 and moved sharply higher in the last quarter of the year.
The fuel for the company’s growth is rapidly growing earnings. And that growth is expected to continue into 2023. Perhaps in anticipation of that, two analysts tracked by MarketBeat have increased their price targets for RGA stock which is currently trading near its 52-week high.
The company pays a dividend that currently yields 2.20%. It has been increasing its dividend in each of the last 11 years.
About Reinsurance Group of America
Reinsurance Group of America, Incorporated engages in reinsurance business. The company offers individual and group life and health insurance products, such as term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products; asset-intensive and financial reinsurance products; and other capital motivated solutions.
Read More - Current Price
- $229.68
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 10 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $227.38 (1.0% Downside)
