Reinsurance Group of America (NYSE:RGA) Price Target Raised to $286.00

Reinsurance Group of America (NYSE:RGA) had its price target increased by JPMorgan Chase & Co. from $270.00 to $286.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

A number of other research firms have also recently issued reports on RGA. Barclays lifted their price target on Reinsurance Group of America from $268.00 to $278.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Piper Sandler decreased their price objective on shares of Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Evercore reissued an “outperform” rating and set a $267.00 price objective on shares of Reinsurance Group of America in a report on Monday, May 18th. Wall Street Zen upgraded shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Reinsurance Group of America in a research note on Wednesday, May 13th. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.00.

Reinsurance Group of America Trading Down 0.3%

Shares of RGA stock opened at $234.63 on Tuesday. The company has a market capitalization of $15.37 billion, a P/E ratio of 12.71 and a beta of 0.47. Reinsurance Group of America has a 12-month low of $165.52 and a 12-month high of $245.00. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average price of $216.20 and a 200 day moving average price of $210.62.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Thursday, May 7th. The insurance provider reported $6.97 earnings per share for the quarter, topping the consensus estimate of $6.03 by $0.94. The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.47 billion. Reinsurance Group of America had a net margin of 4.92% and a return on equity of 13.16%. The company’s revenue was up 23.5% on a year-over-year basis. During the same quarter last year, the business posted $5.66 earnings per share. Research analysts forecast that Reinsurance Group of America will post 26.86 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, June 2nd. Investors of record on Tuesday, May 19th were issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Tuesday, May 19th. Reinsurance Group of America’s dividend payout ratio is currently 20.15%.

Insider Transactions at Reinsurance Group of America

In related news, EVP Ronald Herrmann sold 7,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $210.58, for a total value of $1,474,060.00. Following the sale, the executive vice president directly owned 3,938 shares in the company, valued at $829,264.04. This trade represents a 64.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John W. Hayden sold 414 shares of Reinsurance Group of America stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total transaction of $88,989.30. Following the transaction, the executive vice president directly owned 20,949 shares in the company, valued at $4,502,987.55. The trade was a 1.94% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Reinsurance Group of America

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Securities Inc. grew its position in Reinsurance Group of America by 3.6% in the fourth quarter. Principal Securities Inc. now owns 1,490 shares of the insurance provider’s stock valued at $303,000 after acquiring an additional 52 shares during the last quarter. Rehmann Capital Advisory Group increased its position in Reinsurance Group of America by 1.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 4,281 shares of the insurance provider’s stock valued at $819,000 after acquiring an additional 54 shares during the period. CIBC Private Wealth Group LLC increased its holdings in Reinsurance Group of America by 6.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 974 shares of the insurance provider’s stock valued at $198,000 after purchasing an additional 56 shares during the period. Geneos Wealth Management Inc. raised its position in Reinsurance Group of America by 17.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 388 shares of the insurance provider’s stock worth $76,000 after purchasing an additional 58 shares during the last quarter. Finally, Covestor Ltd raised its position in shares of Reinsurance Group of America by 12.2% during the fourth quarter. Covestor Ltd now owns 533 shares of the insurance provider’s stock worth $108,000 after acquiring an additional 58 shares during the last quarter. 95.11% of the stock is owned by institutional investors.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.