Reinsurance Group of America (NYSE:RGA) Price Target Cut to $233.00 by Analysts at Morgan Stanley

Reinsurance Group of America (NYSE:RGA) had its target price decreased by Morgan Stanley from $245.00 to $233.00 in a research report sent to investors on Friday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the insurance provider’s stock.

A number of other research firms have also issued reports on RGA. Royal Bank of Canada restated an “outperform” rating and set a $245.00 price target on shares of Reinsurance Group of America in a report on Monday, February 10th. StockNews.com upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. lifted their price target on Reinsurance Group of America from $227.00 to $232.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Piper Sandler reduced their price objective on Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Finally, Barclays decreased their price objective on Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $228.08.

Reinsurance Group of America Price Performance

Shares of NYSE:RGA opened at $199.72 on Friday. The company has a market capitalization of $13.15 billion, a PE ratio of 18.60 and a beta of 0.93. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.17 and a current ratio of 0.17. The stock has a fifty day moving average of $216.81 and a 200-day moving average of $216.89. Reinsurance Group of America has a one year low of $167.80 and a one year high of $233.81.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Thursday, February 6th. The insurance provider reported $4.99 EPS for the quarter, missing the consensus estimate of $5.22 by ($0.23). Reinsurance Group of America had a net margin of 3.24% and a return on equity of 14.80%. As a group, equities analysts anticipate that Reinsurance Group of America will post 23.14 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be paid a dividend of $0.89 per share. The ex-dividend date is Tuesday, February 18th. This represents a $3.56 annualized dividend and a dividend yield of 1.78%. Reinsurance Group of America’s dividend payout ratio (DPR) is 33.15%.

Institutional Investors Weigh In On Reinsurance Group of America

A number of large investors have recently bought and sold shares of RGA. Eagle Asset Management Inc. lifted its position in shares of Reinsurance Group of America by 15.7% in the third quarter. Eagle Asset Management Inc. now owns 112,901 shares of the insurance provider’s stock worth $25,297,000 after buying an additional 15,289 shares during the last quarter. Martin Capital Partners LLC bought a new position in shares of Reinsurance Group of America in the 4th quarter valued at approximately $1,788,000. Nordea Investment Management AB lifted its holdings in Reinsurance Group of America by 4.8% in the 4th quarter. Nordea Investment Management AB now owns 89,837 shares of the insurance provider’s stock worth $19,232,000 after purchasing an additional 4,119 shares during the last quarter. Pacer Advisors Inc. boosted its position in Reinsurance Group of America by 23.8% during the fourth quarter. Pacer Advisors Inc. now owns 14,402 shares of the insurance provider’s stock worth $3,077,000 after purchasing an additional 2,768 shares during the period. Finally, Franklin Resources Inc. grew its holdings in Reinsurance Group of America by 7.9% during the third quarter. Franklin Resources Inc. now owns 77,516 shares of the insurance provider’s stock valued at $16,862,000 after purchasing an additional 5,699 shares during the last quarter. 95.11% of the stock is currently owned by institutional investors.

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.