Brokerages Set Reinsurance Group of America, Incorporated (NYSE:RGA) Target Price at $239.89

Shares of Reinsurance Group of America, Incorporated (NYSE:RGA) have been assigned an average recommendation of “Moderate Buy” from the eleven research firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $239.8889.

A number of research firms have recently weighed in on RGA. Piper Sandler reaffirmed an “overweight” rating on shares of Reinsurance Group of America in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods lowered their price target on Reinsurance Group of America from $255.00 to $240.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of Reinsurance Group of America in a research note on Wednesday, October 8th. Raymond James Financial cut shares of Reinsurance Group of America from a “market perform” rating to an “underperform” rating in a research report on Friday, October 17th. Finally, Morgan Stanley dropped their target price on shares of Reinsurance Group of America from $210.00 to $195.00 and set an “equal weight” rating for the company in a research report on Monday, August 18th.

Reinsurance Group of America Stock Performance

RGA opened at $190.38 on Monday. The firm has a market cap of $12.51 billion, a P/E ratio of 16.53 and a beta of 0.62. Reinsurance Group of America has a 1-year low of $159.25 and a 1-year high of $233.81. The company has a 50 day simple moving average of $190.41 and a two-hundred day simple moving average of $194.08. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.16 and a quick ratio of 0.16.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings data on Thursday, October 30th. The insurance provider reported $6.37 EPS for the quarter, beating the consensus estimate of $5.80 by $0.57. The firm had revenue of $6.20 billion for the quarter, compared to the consensus estimate of $6.02 billion. Reinsurance Group of America had a net margin of 3.54% and a return on equity of 12.56%. The company’s revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm earned $6.13 EPS. Equities analysts forecast that Reinsurance Group of America will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 11th will be given a dividend of $0.93 per share. The ex-dividend date is Monday, November 10th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.0%. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 28.62%.

Hedge Funds Weigh In On Reinsurance Group of America

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Millstone Evans Group LLC increased its stake in Reinsurance Group of America by 82.4% in the 3rd quarter. Millstone Evans Group LLC now owns 135 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 61 shares during the last quarter. Root Financial Partners LLC purchased a new position in shares of Reinsurance Group of America in the third quarter valued at $33,000. TCTC Holdings LLC increased its position in Reinsurance Group of America by 107.2% in the first quarter. TCTC Holdings LLC now owns 172 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 89 shares during the last quarter. Headlands Technologies LLC raised its position in shares of Reinsurance Group of America by 357.1% during the 1st quarter. Headlands Technologies LLC now owns 224 shares of the insurance provider’s stock valued at $44,000 after buying an additional 175 shares in the last quarter. Finally, SouthState Corp purchased a new stake in Reinsurance Group of America during the first quarter valued at approximately $48,000. 95.11% of the stock is owned by institutional investors.

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.