Reinsurance Group of America (NYSE:RGA) PT Raised to $250.00

Reinsurance Group of America (NYSE:RGA) had its price objective hoisted by Raymond James from $228.00 to $250.00 in a research note released on Tuesday, Benzinga reports. Raymond James currently has a strong-buy rating on the insurance provider’s stock.

Several other research firms also recently weighed in on RGA. UBS Group boosted their target price on Reinsurance Group of America from $223.00 to $240.00 and gave the company a buy rating in a research report on Thursday, May 30th. Morgan Stanley cut their target price on Reinsurance Group of America from $238.00 to $236.00 and set an equal weight rating on the stock in a research report on Monday, August 19th. Royal Bank of Canada boosted their target price on Reinsurance Group of America from $225.00 to $235.00 and gave the company an outperform rating in a research report on Monday, August 5th. Piper Sandler boosted their target price on Reinsurance Group of America from $228.00 to $235.00 and gave the company an overweight rating in a research report on Friday, June 28th. Finally, Citigroup boosted their target price on Reinsurance Group of America from $194.00 to $252.00 and gave the company a buy rating in a research report on Tuesday, July 23rd. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Reinsurance Group of America currently has an average rating of Moderate Buy and an average target price of $225.17.

Reinsurance Group of America Stock Performance

NYSE RGA opened at $215.61 on Tuesday. The stock has a market capitalization of $14.20 billion, a PE ratio of 16.75 and a beta of 0.91. The business has a 50 day simple moving average of $213.34 and a two-hundred day simple moving average of $204.26. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.17 and a quick ratio of 0.17. Reinsurance Group of America has a 1-year low of $140.39 and a 1-year high of $227.87.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share for the quarter, beating the consensus estimate of $4.94 by $0.54. The business had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $5.07 billion. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter last year, the business posted $4.40 EPS. On average, research analysts predict that Reinsurance Group of America will post 21.7 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were issued a $0.89 dividend. The ex-dividend date of this dividend was Friday, August 9th. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.65%. Reinsurance Group of America’s dividend payout ratio is currently 27.66%.

Insider Activity

In other news, EVP William L. Hutton sold 1,209 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $218.97, for a total value of $264,734.73. Following the transaction, the executive vice president now directly owns 12,357 shares of the company’s stock, valued at $2,705,812.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.37% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Earnest Partners LLC increased its holdings in shares of Reinsurance Group of America by 1.9% in the second quarter. Earnest Partners LLC now owns 2,628,129 shares of the insurance provider’s stock valued at $539,476,000 after purchasing an additional 50,228 shares during the period. Sei Investments Co. boosted its stake in shares of Reinsurance Group of America by 5.9% in the second quarter. Sei Investments Co. now owns 825,719 shares of the insurance provider’s stock worth $169,497,000 after buying an additional 45,709 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Reinsurance Group of America by 2.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 584,137 shares of the insurance provider’s stock worth $112,668,000 after buying an additional 15,926 shares during the last quarter. Junto Capital Management LP purchased a new stake in shares of Reinsurance Group of America in the fourth quarter worth about $92,083,000. Finally, Zurich Insurance Group Ltd FI boosted its stake in shares of Reinsurance Group of America by 681.8% in the second quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider’s stock worth $104,244,000 after buying an additional 442,883 shares during the last quarter. 95.11% of the stock is owned by institutional investors and hedge funds.

Reinsurance Group of America Company Profile

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.