Reinsurance Group of America (NYSE:RGA) Price Target Raised to $241.00

Reinsurance Group of America (NYSE:RGA) had its price objective upped by Evercore ISI from $225.00 to $241.00 in a research report report published on Wednesday, Benzinga reports. They currently have an outperform rating on the insurance provider’s stock.

Other analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods upped 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. Royal Bank of Canada reaffirmed an outperform rating and set a $225.00 price objective on shares of Reinsurance Group of America in a research note on Friday, June 14th. JPMorgan Chase & Co. upped their price objective on shares of Reinsurance Group of America from $189.00 to $195.00 and gave the stock a neutral rating in a research note on Friday, May 3rd. UBS Group upped their price objective on shares of Reinsurance Group of America from $223.00 to $240.00 and gave the stock a buy rating in a research note on Thursday, May 30th. Finally, Piper Sandler increased their price target on shares of Reinsurance Group of America from $195.00 to $220.00 and gave the company an overweight rating in a research note on Friday, April 5th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Reinsurance Group of America presently has an average rating of Moderate Buy and a consensus target price of $220.00.

Reinsurance Group of America Stock Performance

NYSE RGA opened at $205.27 on Wednesday. The stock has a market cap of $13.50 billion, a P/E ratio of 15.95 and a beta of 0.92. The company’s 50-day simple moving average is $203.58 and its 200 day simple moving average is $184.90. Reinsurance Group of America has a twelve month low of $135.07 and a twelve month high of $213.21. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.46.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Friday, May 3rd. The insurance provider reported $6.02 earnings per share for the quarter, beating analysts’ consensus estimates of $4.55 by $1.47. The business had revenue of $6.34 billion for the quarter, compared to analysts’ expectations 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 previous year, the firm posted $5.16 earnings per share. As a group, research analysts forecast that Reinsurance Group of America will post 20.94 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th were issued a $0.85 dividend. The ex-dividend date was Monday, May 13th. This represents a $3.40 annualized dividend and a yield of 1.66%. Reinsurance Group of America’s dividend payout ratio is currently 26.42%.

Insider Activity at Reinsurance Group of America

In related news, EVP John W. Hayden sold 1,767 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $206.85, for a total value of $365,503.95. Following the transaction, the executive vice president now directly owns 16,490 shares in the company, valued at $3,410,956.50. 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 currently owned by company insiders.

Institutional Investors Weigh In On Reinsurance Group of America

Several hedge funds have recently bought and sold shares of RGA. Norges Bank acquired a new stake in Reinsurance Group of America in the fourth quarter worth $122,301,000. Junto Capital Management LP acquired a new stake in Reinsurance Group of America in the fourth quarter worth $92,083,000. Balyasny Asset Management L.P. acquired a new stake in Reinsurance Group of America in the fourth quarter worth $67,177,000. Adage Capital Partners GP L.L.C. raised its holdings in Reinsurance Group of America by 966.7% in the third quarter. Adage Capital Partners GP L.L.C. now owns 320,000 shares of the insurance provider’s stock worth $46,461,000 after purchasing an additional 290,000 shares during the period. Finally, Corient Private Wealth LLC raised its holdings in Reinsurance Group of America by 1,965.4% in the fourth quarter. Corient Private Wealth LLC now owns 298,352 shares of the insurance provider’s stock worth $48,267,000 after purchasing an additional 283,907 shares during the period. 95.11% of the stock is currently owned by institutional investors and hedge funds.

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.