Reinsurance Group of America (NYSE:RGA) Price Target Raised to $244.00 at Wells Fargo & Company

Reinsurance Group of America (NYSE:RGA) had its target price raised by Wells Fargo & Company from $239.00 to $244.00 in a research note published on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the insurance provider’s stock.

Several other equities analysts also recently weighed in on RGA. Piper Sandler lifted their target price on Reinsurance Group of America from $237.00 to $242.00 and gave the company an overweight rating in a research report on Wednesday, October 2nd. Raymond James raised their price target on shares of Reinsurance Group of America from $228.00 to $250.00 and gave the company a strong-buy rating in a research report on Tuesday, September 24th. Royal Bank of Canada increased their target price on Reinsurance Group of America from $225.00 to $235.00 and gave the company an outperform rating in a report on Monday, August 5th. TD Cowen started coverage on Reinsurance Group of America in a report on Wednesday. They issued a hold rating and a $235.00 target price on the stock. Finally, StockNews.com lowered Reinsurance Group of America from a buy rating to a hold rating in a report on Wednesday. Four analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $226.62.

Reinsurance Group of America Trading Up 1.6 %

Shares of RGA traded up $3.38 during mid-day trading on Thursday, reaching $217.60. The stock had a trading volume of 16,020 shares, compared to its average volume of 356,730. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.17 and a quick ratio of 0.17. Reinsurance Group of America has a 52-week low of $143.96 and a 52-week high of $227.87. The business’s fifty day moving average is $212.42 and its 200 day moving average is $206.38. The firm has a market cap of $14.32 billion, a price-to-earnings ratio of 16.91 and a beta of 0.91.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.94 by $0.54. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The firm had revenue of $4.88 billion during the quarter, compared to analyst estimates of $5.07 billion. During the same quarter in the prior year, the firm posted $4.40 earnings per share. Reinsurance Group of America’s quarterly revenue was up 17.4% on a year-over-year basis. On average, sell-side analysts predict that Reinsurance Group of America will post 21.72 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were given a $0.89 dividend. The ex-dividend date was Friday, August 9th. This represents a $3.56 dividend on an annualized basis and a yield of 1.64%. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.85. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 27.66%.

Insider Activity at Reinsurance Group of America

In related news, EVP William L. Hutton sold 1,209 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $218.97, for a total value of $264,734.73. Following the completion of the sale, the executive vice president now owns 12,357 shares in the company, valued at $2,705,812.29. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.37% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new position in shares of Reinsurance Group of America during the 2nd quarter worth approximately $28,000. Family Firm Inc. purchased a new position in shares of Reinsurance Group of America during the 2nd quarter worth approximately $29,000. New Covenant Trust Company N.A. purchased a new position in shares of Reinsurance Group of America during the 1st quarter worth approximately $28,000. Rise Advisors LLC purchased a new position in shares of Reinsurance Group of America during the 1st quarter worth approximately $29,000. Finally, LRI Investments LLC purchased a new position in shares of Reinsurance Group of America during the 1st quarter worth approximately $33,000. 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 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.