Keefe, Bruyette & Woods Raises Reinsurance Group of America (NYSE:RGA) Price Target to $220.00

Reinsurance Group of America (NYSE:RGAFree Report) had its price target boosted by Keefe, Bruyette & Woods from $200.00 to $220.00 in a report issued on Wednesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the insurance provider’s stock.

Other equities analysts have also issued research reports about the stock. UBS Group boosted their target price on shares of Reinsurance Group of America from $191.00 to $198.00 and gave the stock a buy rating in a research report on Monday, February 5th. Wells Fargo & Company lifted their price target on shares of Reinsurance Group of America from $186.00 to $193.00 and gave the stock an overweight rating in a research note on Tuesday, February 6th. Royal Bank of Canada lifted their price target on shares of Reinsurance Group of America from $170.00 to $185.00 and gave the stock an outperform rating in a research note on Monday, February 5th. Piper Sandler lifted 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 research note on Friday, April 5th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Reinsurance Group of America from $170.00 to $189.00 and gave the company a neutral rating in a research note on Tuesday, April 2nd. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $193.23.

Read Our Latest Report on Reinsurance Group of America

Reinsurance Group of America Trading Down 0.3 %

NYSE:RGA opened at $184.32 on Wednesday. Reinsurance Group of America has a 12 month low of $133.13 and a 12 month high of $196.25. The firm has a market cap of $12.12 billion, a price-to-earnings ratio of 13.72 and a beta of 0.89. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.48. The company’s 50 day moving average is $180.89 and its 200-day moving average is $166.36.

Reinsurance Group of America (NYSE:RGAGet Free Report) last announced its earnings results on Friday, February 2nd. The insurance provider reported $4.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.40 by $0.33. Reinsurance Group of America had a net margin of 4.86% and a return on equity of 16.20%. The business had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the previous year, the firm posted $2.99 earnings per share. Reinsurance Group of America’s revenue was up 14.9% compared to the same quarter last year. Equities analysts anticipate that Reinsurance Group of America will post 19.38 EPS for the current year.

Reinsurance Group of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Tuesday, February 13th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Monday, February 12th. This represents a $3.40 annualized dividend and a yield of 1.84%. Reinsurance Group of America’s dividend payout ratio is currently 25.32%.

Insiders Place Their Bets

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,588 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $171.83, for a total transaction of $272,866.04. Following the completion of the sale, the executive vice president now directly owns 13,625 shares of the company’s stock, valued at approximately $2,341,183.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP William L. Hutton sold 1,588 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $171.83, for a total value of $272,866.04. Following the completion of the sale, the executive vice president now directly owns 13,625 shares of the company’s stock, valued at approximately $2,341,183.75. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Todd C. Larson sold 2,966 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $182.88, for a total value of $542,422.08. Following the completion of the sale, the chief financial officer now directly owns 49,549 shares of the company’s stock, valued at $9,061,521.12. The disclosure for this sale can be found here. In the last three months, insiders sold 6,462 shares of company stock valued at $1,162,239. 1.31% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Reinsurance Group of America

Several institutional investors and hedge funds have recently modified their holdings of RGA. Moneta Group Investment Advisors LLC grew its position in shares of Reinsurance Group of America by 129,207.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 12,117,433 shares of the insurance provider’s stock valued at $1,721,766,000 after purchasing an additional 12,108,062 shares during the period. Norges Bank acquired a new position in shares of Reinsurance Group of America in the 4th quarter valued at approximately $122,301,000. Junto Capital Management LP acquired a new position in shares of Reinsurance Group of America in the 4th quarter valued at approximately $92,083,000. Morgan Stanley grew its position in shares of Reinsurance Group of America by 121.0% in the 4th quarter. Morgan Stanley now owns 930,151 shares of the insurance provider’s stock valued at $132,165,000 after purchasing an additional 509,220 shares during the period. Finally, Alliancebernstein L.P. boosted its position in Reinsurance Group of America by 446.0% during the 3rd quarter. Alliancebernstein L.P. now owns 581,096 shares of the insurance provider’s stock worth $73,108,000 after acquiring an additional 474,672 shares during the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Reinsurance Group of America Company Profile

(Get Free Report)

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.

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