Reinsurance Group of America (NYSE:RGA) Given New $270.00 Price Target at Evercore ISI

Reinsurance Group of America (NYSE:RGA) had its price objective reduced by Evercore ISI from $280.00 to $270.00 in a research note published on Thursday morning,Benzinga reports. They currently have an outperform rating on the insurance provider’s stock.

RGA has been the topic of several other reports. Piper Sandler cut their price target on shares of Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Morgan Stanley cut their price target on shares of Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating on the stock in a research note on Friday, February 14th. JPMorgan Chase & Co. lifted their price target on shares of Reinsurance Group of America from $227.00 to $232.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Barclays cut their price target on shares of Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Finally, Wells Fargo & Company lifted their price objective on shares of Reinsurance Group of America from $263.00 to $264.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $231.85.

Reinsurance Group of America Price Performance

Reinsurance Group of America stock opened at $185.97 on Thursday. The stock has a market cap of $12.28 billion, a P/E ratio of 17.32 and a beta of 0.91. The company has a fifty day simple moving average of $210.42 and a 200-day simple moving average of $215.08. Reinsurance Group of America has a 12-month low of $178.84 and a 12-month high of $233.81. The company has a current ratio of 0.15, a quick ratio of 0.17 and a debt-to-equity ratio of 0.46.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Thursday, February 6th. The insurance provider reported $4.99 EPS for the quarter, missing the consensus estimate of $5.22 by ($0.23). Reinsurance Group of America had a return on equity of 14.55% and a net margin of 3.24%. Equities analysts expect that Reinsurance Group of America will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.89 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.91%. Reinsurance Group of America’s dividend payout ratio (DPR) is 33.15%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Reinsurance Group of America by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 7,213,971 shares of the insurance provider’s stock worth $1,541,121,000 after acquiring an additional 51,733 shares during the period. FMR LLC boosted its holdings in Reinsurance Group of America by 11.1% during the fourth quarter. FMR LLC now owns 5,640,788 shares of the insurance provider’s stock worth $1,205,042,000 after buying an additional 564,693 shares in the last quarter. WCM Investment Management LLC boosted its holdings in Reinsurance Group of America by 1.4% during the fourth quarter. WCM Investment Management LLC now owns 2,480,750 shares of the insurance provider’s stock worth $526,911,000 after buying an additional 33,082 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Reinsurance Group of America by 389.4% during the fourth quarter. Alliancebernstein L.P. now owns 1,123,022 shares of the insurance provider’s stock worth $239,911,000 after buying an additional 893,537 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Reinsurance Group of America by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 1,113,872 shares of the insurance provider’s stock worth $238,031,000 after buying an additional 4,106 shares in the last quarter. 95.11% of the stock is currently 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.