Reinsurance Group of America (NYSE:RGA) Price Target Raised to $235.00

Reinsurance Group of America (NYSE:RGA) had its target price increased by Piper Sandler from $228.00 to $235.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

RGA has been the topic of a number of other reports. Evercore ISI boosted their target price on shares of Reinsurance Group of America from $225.00 to $241.00 and gave the company an outperform rating in a research note on Wednesday, June 26th. Royal Bank of Canada reissued an outperform rating and set a $225.00 price objective on shares of Reinsurance Group of America in a report on Friday, June 14th. JPMorgan Chase & Co. raised their target price on Reinsurance Group of America from $189.00 to $195.00 and gave the stock a neutral rating in a research report on Friday, May 3rd. UBS Group upped their price target on Reinsurance Group of America from $223.00 to $240.00 and gave the company a buy rating in a research report on Thursday, May 30th. Finally, Wells Fargo & Company lifted their price objective on Reinsurance Group of America from $210.00 to $227.00 and gave the stock an overweight rating in a report on Friday, May 10th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $220.00.

Reinsurance Group of America Stock Performance

Shares of Reinsurance Group of America stock opened at $205.03 on Friday. The business’s fifty day simple moving average is $203.58 and its 200 day simple moving average is $185.03. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.46. Reinsurance Group of America has a 12 month low of $135.07 and a 12 month high of $213.21. The firm has a market capitalization of $13.49 billion, a P/E ratio of 15.93 and a beta of 0.92.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Friday, May 3rd. The insurance provider reported $6.02 EPS for the quarter, topping analysts’ consensus estimates of $4.55 by $1.47. The company had revenue of $6.34 billion for the quarter, compared to analysts’ expectations of $4.54 billion. Reinsurance Group of America had a return on equity of 15.94% and a net margin of 4.16%. During the same period in the previous year, the business posted $5.16 EPS. As a group, analysts anticipate that Reinsurance Group of America will post 20.94 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend was Monday, May 13th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 26.42%.

Insiders Place Their Bets

In other news, EVP John W. Hayden sold 1,767 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $206.85, for a total transaction of $365,503.95. Following the completion of the transaction, the executive vice president now directly owns 16,490 shares in the company, valued at approximately $3,410,956.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.37% of the company’s stock.

Institutional Investors Weigh In On Reinsurance Group of America

Several large investors have recently added to or reduced their stakes in the business. Lindbrook Capital LLC raised its holdings in shares of Reinsurance Group of America by 129.9% in the 4th quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 87 shares in the last quarter. Pineridge Advisors LLC purchased a new stake in Reinsurance Group of America in the fourth quarter valued at approximately $26,000. New Covenant Trust Company N.A. purchased a new stake in Reinsurance Group of America in the first quarter valued at approximately $28,000. Rise Advisors LLC bought a new stake in Reinsurance Group of America during the first quarter valued at approximately $29,000. Finally, VisionPoint Advisory Group LLC grew its stake in Reinsurance Group of America by 116.3% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 212 shares of the insurance provider’s stock worth $31,000 after buying an additional 114 shares in the last quarter. Institutional investors own 95.11% of the company’s stock.

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.