Reinsurance Group of America (NYSE:RGA) Price Target Raised to $228.00

Reinsurance Group of America (NYSE:RGAFree Report) had its price objective upped by Raymond James from $212.00 to $228.00 in a report issued on Friday morning, Benzinga reports. They currently have a strong-buy rating on the insurance provider’s stock.

RGA has been the subject of a number of other reports. Evercore ISI boosted their price objective on Reinsurance Group of America from $200.00 to $215.00 and gave the company an outperform rating in a research note on Thursday, April 11th. Morgan Stanley upped their target price on shares of Reinsurance Group of America from $178.00 to $185.00 and gave the stock an equal weight rating in a research report on Monday, April 15th. Royal Bank of Canada reiterated an outperform rating and issued a $225.00 price target on shares of Reinsurance Group of America in a report on Friday. Piper Sandler increased their price objective on shares of Reinsurance Group of America from $195.00 to $220.00 and gave the company an overweight rating in a report on Friday, April 5th. Finally, Keefe, Bruyette & Woods boosted their target price on Reinsurance Group of America from $220.00 to $235.00 and gave the stock an outperform rating in a research report on Tuesday, May 7th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Reinsurance Group of America currently has an average rating of Moderate Buy and a consensus price target of $211.00.

View Our Latest Research Report on Reinsurance Group of America

Reinsurance Group of America Stock Performance

RGA opened at $203.85 on Friday. Reinsurance Group of America has a 12-month low of $135.07 and a 12-month high of $213.21. The company has a market cap of $13.41 billion, a price-to-earnings ratio of 15.84 and a beta of 0.92. 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’s 50 day moving average is $199.59 and its 200 day moving average is $182.36.

Reinsurance Group of America (NYSE:RGAGet Free Report) last issued its quarterly earnings results on Friday, May 3rd. The insurance provider reported $6.02 earnings per share for the quarter, topping the consensus estimate 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 last year, the company posted $5.16 EPS. On average, equities research analysts predict that Reinsurance Group of America will post 20.66 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date was Monday, May 13th. Reinsurance Group of America’s dividend payout ratio (DPR) is 26.42%.

Insider Activity at Reinsurance Group of America

In other news, EVP John W. Hayden sold 1,767 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $206.85, for a total value of $365,503.95. Following the completion of the sale, the executive vice president now owns 16,490 shares in the company, valued at approximately $3,410,956.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.37% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Reinsurance Group of America

Several hedge funds and other institutional investors have recently modified their holdings of the business. Atria Wealth Solutions Inc. purchased a new stake in Reinsurance Group of America in the third quarter worth $218,000. HighTower Advisors LLC lifted its holdings in Reinsurance Group of America by 3.8% during the 3rd quarter. HighTower Advisors LLC now owns 9,988 shares of the insurance provider’s stock valued at $1,449,000 after buying an additional 370 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in Reinsurance Group of America by 9.7% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,180 shares of the insurance provider’s stock valued at $462,000 after buying an additional 282 shares during the period. UBS Group AG grew its stake in Reinsurance Group of America by 70.2% in the 3rd quarter. UBS Group AG now owns 69,968 shares of the insurance provider’s stock worth $10,159,000 after acquiring an additional 28,858 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its position in shares of Reinsurance Group of America by 57.2% during the third quarter. DekaBank Deutsche Girozentrale now owns 5,797 shares of the insurance provider’s stock worth $847,000 after acquiring an additional 2,110 shares during the period. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

About Reinsurance Group of America

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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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