UBS Group Raises Reinsurance Group of America (NYSE:RGA) Price Target to $240.00

Reinsurance Group of America (NYSE:RGA) had its price target raised by UBS Group from $223.00 to $240.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a buy rating on the insurance provider’s stock.

RGA has been the subject of several other reports. Piper Sandler upped their price target on shares of Reinsurance Group of America from $195.00 to $220.00 and gave the stock an overweight rating in a report on Friday, April 5th. Royal Bank of Canada reiterated an outperform rating and issued a $212.00 price objective on shares of Reinsurance Group of America in a report on Friday, April 12th. Morgan Stanley upped their price target on shares of Reinsurance Group of America from $178.00 to $185.00 and gave the company an equal weight rating in a research report on Monday, April 15th. Evercore ISI lifted their price target on shares of Reinsurance Group of America from $200.00 to $215.00 and gave the stock an outperform rating in a report on Thursday, April 11th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Reinsurance Group of America from $220.00 to $235.00 and gave the stock an outperform rating in a research note on Tuesday, May 7th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $202.50.

Reinsurance Group of America Stock Performance

Shares of Reinsurance Group of America stock opened at $209.80 on Thursday. The company has a 50 day moving average of $197.21 and a 200-day moving average of $178.86. Reinsurance Group of America has a 1-year low of $135.07 and a 1-year high of $213.21. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.46. The company has a market cap of $13.80 billion, a PE ratio of 16.30 and a beta of 0.88.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Friday, May 3rd. The insurance provider reported $6.02 EPS for the quarter, beating the consensus estimate of $4.55 by $1.47. The business had revenue of $6.34 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm earned $5.16 EPS. As a group, equities research analysts forecast that Reinsurance Group of America will post 20.66 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders 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 dividend on an annualized basis and a yield of 1.62%. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 26.42%.

Insider Buying and Selling at Reinsurance Group of America

In other Reinsurance Group of America news, EVP John W. Hayden sold 1,767 shares of the company’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 sale, the executive vice president now owns 16,490 shares of the company’s stock, valued at $3,410,956.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Todd C. Larson sold 2,966 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $182.88, for a total transaction of $542,422.08. Following the transaction, the chief financial officer now owns 49,549 shares of the company’s stock, valued at approximately $9,061,521.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John W. Hayden sold 1,767 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $206.85, for a total transaction of $365,503.95. Following the transaction, the executive vice president now directly owns 16,490 shares in the company, valued at approximately $3,410,956.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,641 shares of company stock valued at $1,254,877. 1.37% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Reinsurance Group of America

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Covestor Ltd boosted its position in shares of Reinsurance Group of America by 20.3% during the 1st quarter. Covestor Ltd now owns 374 shares of the insurance provider’s stock worth $72,000 after purchasing an additional 63 shares in the last quarter. Toth Financial Advisory Corp boosted its position in shares of Reinsurance Group of America by 41.2% during the 4th quarter. Toth Financial Advisory Corp now owns 240 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 70 shares in the last quarter. Tectonic Advisors LLC boosted its position in shares of Reinsurance Group of America by 4.3% during the 4th quarter. Tectonic Advisors LLC now owns 1,979 shares of the insurance provider’s stock worth $320,000 after purchasing an additional 82 shares in the last quarter. Lindbrook Capital LLC boosted its position in shares of Reinsurance Group of America by 129.9% during the 4th quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 87 shares in the last quarter. Finally, Private Advisor Group LLC boosted its position in shares of Reinsurance Group of America by 2.2% during the 4th quarter. Private Advisor Group LLC now owns 4,246 shares of the insurance provider’s stock worth $687,000 after purchasing an additional 92 shares in the last quarter. Institutional investors own 95.11% of the company’s stock.

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.