Brokerages Set Reinsurance Group of America, Incorporated (NYSE:RGA) PT at $229.62

Reinsurance Group of America, Incorporated (NYSE:RGA) has been given an average rating of “Moderate Buy” by the thirteen brokerages that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $229.62.

RGA has been the subject of a number of research reports. Wells Fargo & Company lifted their price target on Reinsurance Group of America from $263.00 to $264.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th. Morgan Stanley cut their price target on Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating for the company in a research note on Friday, February 14th. Piper Sandler cut 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. Barclays dropped their price target 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. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $245.00 price target on shares of Reinsurance Group of America in a research report on Monday, February 10th.

Institutional Trading of Reinsurance Group of America

Hedge funds have recently modified their holdings of the stock. WCM Investment Management LLC grew its holdings in shares of 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 purchasing an additional 2,260,605 shares during the last quarter. Alliancebernstein L.P. lifted its position in Reinsurance Group of America by 389.4% in the fourth quarter. Alliancebernstein L.P. now owns 1,123,022 shares of the insurance provider’s stock valued at $239,911,000 after purchasing an additional 893,537 shares during the period. Norges Bank acquired a new stake in Reinsurance Group of America in the fourth quarter valued at about $174,082,000. FMR LLC lifted its position in 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 valued at $1,205,042,000 after purchasing an additional 564,693 shares during the period. Finally, Tidal Investments LLC lifted its position in shares of Reinsurance Group of America by 6,944.4% during the 4th quarter. Tidal Investments LLC now owns 285,368 shares of the insurance provider’s stock valued at $60,963,000 after acquiring an additional 281,317 shares during the period. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Reinsurance Group of America Trading Down 1.1 %

Shares of NYSE:RGA opened at $190.80 on Wednesday. Reinsurance Group of America has a 12-month low of $178.84 and a 12-month high of $233.81. The business’s fifty day simple moving average is $212.57 and its 200-day simple moving average is $215.82. The company has a market capitalization of $12.60 billion, a PE ratio of 17.77 and a beta of 0.91. The company has a current ratio of 0.15, a quick ratio of 0.17 and a debt-to-equity ratio of 0.46.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Thursday, February 6th. The insurance provider reported $4.99 earnings per share 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%. As a group, equities research analysts predict that Reinsurance Group of America will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were paid a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend was Tuesday, February 18th. Reinsurance Group of America’s payout ratio is currently 33.15%.

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.