Brokerages Set Reinsurance Group of America, Incorporated (NYSE:RGA) PT at $262.56

Shares of Reinsurance Group of America, Incorporated (NYSE:RGA) have been given a consensus rating of “Moderate Buy” by the eleven analysts that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $262.5556.

Several analysts have recently weighed in on the stock. Morgan Stanley raised their price objective on shares of Reinsurance Group of America from $223.00 to $250.00 and gave the stock an “equal weight” rating in a report on Monday, August 24th. UBS Group raised Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. TD Cowen lifted their price objective on Reinsurance Group of America from $212.00 to $235.00 and gave the company a “hold” rating in a research report on Wednesday, July 22nd. Evercore restated an “outperform” rating and set a $267.00 target price on shares of Reinsurance Group of America in a report on Monday, May 18th. Finally, Barclays raised their target price on Reinsurance Group of America from $278.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, August 7th.

Reinsurance Group of America Stock Up 0.9%

Shares of NYSE:RGA opened at $247.30 on Friday. The company’s fifty day moving average is $241.08 and its 200-day moving average is $219.97. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.14 and a current ratio of 0.14. Reinsurance Group of America has a 52 week low of $178.21 and a 52 week high of $257.81. The company has a market capitalization of $16.15 billion, a PE ratio of 10.86 and a beta of 0.47.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Thursday, August 6th. The insurance provider reported $8.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $2.39. Reinsurance Group of America had a net margin of 5.81% and a return on equity of 14.78%. The business had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.67 billion. During the same quarter last year, the company posted $4.72 EPS. The firm’s revenue for the quarter was up 18.5% on a year-over-year basis. Equities research analysts predict that Reinsurance Group of America will post 29.22 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th were paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 1.6%. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Tuesday, August 18th. Reinsurance Group of America’s payout ratio is currently 17.22%.

Insiders Place Their Bets

In related news, EVP Jonathan Porter sold 8,589 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $246.30, for a total value of $2,115,470.70. Following the completion of the transaction, the executive vice president owned 14,885 shares in the company, valued at $3,666,175.50. The trade was a 36.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Sequoia Financial Advisors LLC raised its position in shares of Reinsurance Group of America by 77.6% during the second quarter. Sequoia Financial Advisors LLC now owns 11,716 shares of the insurance provider’s stock worth $2,491,000 after acquiring an additional 5,118 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of Reinsurance Group of America by 2.3% during the second quarter. Tidal Investments LLC now owns 82,153 shares of the insurance provider’s stock valued at $17,470,000 after acquiring an additional 1,873 shares during the period. Engineers Gate Manager LP boosted its holdings in Reinsurance Group of America by 26.8% in the second quarter. Engineers Gate Manager LP now owns 25,218 shares of the insurance provider’s stock valued at $5,363,000 after acquiring an additional 5,331 shares during the last quarter. Squarepoint Ops LLC bought a new position in Reinsurance Group of America in the second quarter valued at about $8,971,000. Finally, Baird Financial Group Inc. increased its position in Reinsurance Group of America by 79.0% in the second quarter. Baird Financial Group Inc. now owns 5,065 shares of the insurance provider’s stock worth $1,077,000 after purchasing an additional 2,236 shares during the period. 95.11% of the stock is currently owned by institutional investors.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated (NYSE:RGA) is a global provider of life and health reinsurance. The company helps insurance and financial services companies manage mortality, longevity, morbidity and other risks by assuming portions of their insurance obligations and providing capital and risk-management support.

RGA’s business includes traditional life reinsurance, health reinsurance, longevity solutions and financial solutions. Its offerings support products such as life insurance, annuities, critical illness coverage, disability insurance and other health-related protection products.