Wells Fargo & Co reissued their market perform rating on shares of Reinsurance Group of America (NYSE:RGA) in a research note released on Wednesday, The Fly reports. The firm currently has a $165.00 price objective on the insurance provider’s stock, up from their previous price objective of $160.00.

A number of other research firms have also recently weighed in on RGA. Citigroup set a $171.00 price target on Reinsurance Group of America and gave the company a buy rating in a research note on Tuesday, November 21st. Goldman Sachs Group initiated coverage on Reinsurance Group of America in a research note on Wednesday, October 18th. They issued a buy rating and a $153.00 price target on the stock. Zacks Investment Research upgraded Reinsurance Group of America from a hold rating to a buy rating and set a $174.00 price target on the stock in a research note on Thursday, January 4th. Royal Bank of Canada increased their price target on Reinsurance Group of America and gave the company a market perform rating in a research note on Monday, October 30th. Finally, Keefe, Bruyette & Woods restated a hold rating and issued a $148.00 price target on shares of Reinsurance Group of America in a research note on Friday, November 10th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $150.43.

Shares of Reinsurance Group of America (NYSE:RGA) opened at $155.47 on Wednesday. Reinsurance Group of America has a 12 month low of $121.93 and a 12 month high of $165.12. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $10,010.00, a price-to-earnings ratio of 5.61, a P/E/G ratio of 1.43 and a beta of 0.75.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Monday, January 29th. The insurance provider reported $2.60 earnings per share for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.24). Reinsurance Group of America had a net margin of 14.56% and a return on equity of 8.62%. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.22 billion. During the same quarter last year, the company posted $2.92 EPS. The firm’s revenue was up 5.3% on a year-over-year basis. equities analysts expect that Reinsurance Group of America will post 12.45 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 8th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.29%. The ex-dividend date is Wednesday, February 7th. Reinsurance Group of America’s payout ratio is 7.22%.

In other news, EVP John P. Laughlin, Jr. sold 500 shares of the stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $155.60, for a total transaction of $77,800.00. Following the sale, the executive vice president now directly owns 26,777 shares of the company’s stock, valued at approximately $4,166,501.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP John P. Laughlin, Jr. sold 1,000 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $149.96, for a total value of $149,960.00. Following the sale, the executive vice president now directly owns 27,277 shares in the company, valued at $4,090,458.92. The disclosure for this sale can be found here. 1.47% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Boston Partners grew its holdings in shares of Reinsurance Group of America by 0.4% during the 3rd quarter. Boston Partners now owns 2,240,938 shares of the insurance provider’s stock worth $312,678,000 after purchasing an additional 7,824 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Reinsurance Group of America by 0.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,117,646 shares of the insurance provider’s stock worth $155,945,000 after purchasing an additional 3,981 shares in the last quarter. LSV Asset Management grew its holdings in shares of Reinsurance Group of America by 38.0% during the 4th quarter. LSV Asset Management now owns 1,105,690 shares of the insurance provider’s stock worth $172,410,000 after purchasing an additional 304,320 shares in the last quarter. Schroder Investment Management Group grew its holdings in shares of Reinsurance Group of America by 7.1% during the 3rd quarter. Schroder Investment Management Group now owns 896,676 shares of the insurance provider’s stock worth $125,490,000 after purchasing an additional 59,385 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Reinsurance Group of America by 65.9% during the 3rd quarter. Wells Fargo & Company MN now owns 791,981 shares of the insurance provider’s stock worth $110,504,000 after purchasing an additional 314,479 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors.

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About Reinsurance Group of America

Reinsurance Group of America, Incorporated (RGA) is an insurance holding company. The Company provides traditional life and health reinsurance and financial solutions with operations in the United States, Latin America, Canada, Europe, Africa, Asia and Australia. It has geographic-based and business-based operational segments, including U.S.

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