Wells Fargo & Company Issues Positive Forecast for Reinsurance Group of America (NYSE:RGA) Stock Price

Reinsurance Group of America (NYSE:RGA) had its target price hoisted by Wells Fargo & Company from $263.00 to $264.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

Other research analysts also recently issued research reports about the company. 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. Morgan Stanley reduced their price target on shares of Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. JPMorgan Chase & Co. raised their price objective on shares of Reinsurance Group of America from $227.00 to $232.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $245.00 target price on shares of Reinsurance Group of America in a research note on Monday, February 10th. Finally, Barclays decreased their price target on shares of Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Three 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 company’s stock. According to MarketBeat.com, Reinsurance Group of America currently has an average rating of “Moderate Buy” and a consensus price target of $229.62.

Reinsurance Group of America Stock Up 0.2 %

RGA opened at $199.84 on Tuesday. Reinsurance Group of America has a fifty-two week low of $171.84 and a fifty-two week high of $233.81. The firm has a market capitalization of $13.16 billion, a P/E ratio of 18.61 and a beta of 0.93. The company’s 50-day moving average is $214.48 and its 200 day moving average is $216.35. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.15 and a quick ratio of 0.17.

Reinsurance Group of America (NYSE:RGA) last posted 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 return on equity of 14.55% and a net margin of 3.24%. Research analysts expect that Reinsurance Group of America will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. WCM Investment Management LLC grew its position in Reinsurance Group of America by 1,208.5% during the third quarter. WCM Investment Management LLC now owns 2,447,668 shares of the insurance provider’s stock worth $527,742,000 after buying an additional 2,260,605 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Reinsurance Group of America by 389.4% during the fourth quarter. Alliancebernstein L.P. now owns 1,123,022 shares of the insurance provider’s stock worth $239,911,000 after purchasing an additional 893,537 shares in the last quarter. Norges Bank bought a new position in shares of Reinsurance Group of America in the fourth quarter worth approximately $174,082,000. FMR LLC increased its position in shares of Reinsurance Group of America by 11.1% in the fourth quarter. FMR LLC now owns 5,640,788 shares of the insurance provider’s stock worth $1,205,042,000 after purchasing an additional 564,693 shares during the last quarter. Finally, Tidal Investments LLC raised its stake in Reinsurance Group of America by 6,944.4% in the fourth quarter. Tidal Investments LLC now owns 285,368 shares of the insurance provider’s stock valued at $60,963,000 after purchasing an additional 281,317 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.