Citigroup Increases Reinsurance Group of America (NYSE:RGA) Price Target to $252.00

Reinsurance Group of America (NYSE:RGA) had its target price lifted by Citigroup from $194.00 to $252.00 in a research note issued to investors on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the insurance provider’s stock.

Several other equities analysts have also issued reports on RGA. Piper Sandler lifted their price target on shares of Reinsurance Group of America from $228.00 to $235.00 and gave the stock an overweight rating in a report on Friday, June 28th. 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. boosted their price objective on shares of Reinsurance Group of America from $195.00 to $208.00 and gave the company a neutral rating in a report on Tuesday, July 2nd. Keefe, Bruyette & Woods boosted their price objective on shares of Reinsurance Group of America from $220.00 to $235.00 and gave the company an outperform rating in a report on Tuesday, May 7th. Finally, Raymond James boosted their price objective on shares of Reinsurance Group of America from $212.00 to $228.00 and gave the company a strong-buy rating in a report on Friday, June 14th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $215.64.

Reinsurance Group of America Stock Performance

Reinsurance Group of America stock opened at $221.58 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.19 and a quick ratio of 0.19. Reinsurance Group of America has a 1-year low of $135.07 and a 1-year high of $223.85. The firm has a market capitalization of $14.58 billion, a P/E ratio of 17.22 and a beta of 0.92. The company’s 50-day moving average is $208.76 and its 200 day moving average is $191.57.

Reinsurance Group of America (NYSE:RGA) last issued 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 business had revenue of $6.34 billion for the quarter, compared to analyst estimates of $4.54 billion. Reinsurance Group of America had a net margin of 4.16% and a return on equity of 15.94%. During the same period last year, the company posted $5.16 earnings per share. Research analysts forecast that Reinsurance Group of America will post 21.11 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th were given a dividend of $0.85 per share. The ex-dividend date was Monday, May 13th. This represents a $3.40 annualized dividend and a dividend yield of 1.53%. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 26.42%.

Insider Buying and Selling

In related news, EVP John W. Hayden sold 1,767 shares of the company’s stock in a transaction dated 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 owns 16,490 shares in the company, valued at approximately $3,410,956.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.37% of the company’s stock.

Institutional Trading of Reinsurance Group of America

Several hedge funds have recently made changes to their positions in RGA. Lindbrook Capital LLC grew its stake 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 buying an additional 87 shares during the period. Pineridge Advisors LLC purchased a new stake in shares of Reinsurance Group of America in the 4th quarter valued at approximately $26,000. New Covenant Trust Company N.A. purchased a new stake in shares of Reinsurance Group of America in the 1st quarter valued at approximately $28,000. Rise Advisors LLC purchased a new stake in shares of Reinsurance Group of America in the 1st quarter valued at approximately $29,000. Finally, Family Firm Inc. purchased a new stake in shares of Reinsurance Group of America in the 2nd quarter valued at approximately $29,000. Hedge funds and other 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.