Brokerages Set Reinsurance Group of America, Incorporated (NYSE:RGA) Price Target at $257.11

Reinsurance Group of America, Incorporated (NYSE:RGAGet Free Report) has received an average rating of “Moderate Buy” from the eleven ratings firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $257.1111.

A number of equities research analysts recently issued reports on RGA shares. UBS Group raised shares of Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. Piper Sandler reduced their price objective on shares of Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. TD Cowen increased their price objective on shares of Reinsurance Group of America from $212.00 to $235.00 and gave the company a “hold” rating in a report on Wednesday, July 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Reinsurance Group of America in a research report on Friday, August 7th. Finally, Evercore reissued an “outperform” rating and set a $267.00 target price on shares of Reinsurance Group of America in a research note on Monday, May 18th.

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Reinsurance Group of America Price Performance

Shares of Reinsurance Group of America stock opened at $249.19 on Wednesday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.41. Reinsurance Group of America has a twelve month low of $178.21 and a twelve month high of $251.00. The business has a 50-day moving average price of $227.11 and a 200 day moving average price of $215.33. The firm has a market cap of $16.27 billion, a PE ratio of 10.94 and a beta of 0.47.

Reinsurance Group of America (NYSE:RGAGet Free Report) last issued its quarterly earnings results on Thursday, August 6th. The insurance provider reported $8.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $2.39. The company had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.67 billion. Reinsurance Group of America had a return on equity of 14.78% and a net margin of 5.81%.Reinsurance Group of America’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.72 earnings per share. Sell-side analysts predict that Reinsurance Group of America will post 28.26 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be paid a dividend of $0.98 per share. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.93. The ex-dividend date is Tuesday, August 18th. This represents a $3.92 annualized dividend and a yield of 1.6%. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 16.34%.

Insider Activity at Reinsurance Group of America

In other news, EVP John W. Hayden sold 414 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total value of $88,989.30. Following the transaction, the executive vice president owned 20,949 shares in the company, valued at $4,502,987.55. This trade represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Reinsurance Group of America

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC boosted its position in Reinsurance Group of America by 26.5% during the first quarter. SG Americas Securities LLC now owns 89,847 shares of the insurance provider’s stock worth $18,343,000 after acquiring an additional 18,826 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Reinsurance Group of America by 34.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 21,293 shares of the insurance provider’s stock valued at $4,332,000 after acquiring an additional 5,500 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Reinsurance Group of America by 8,703.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 50,974 shares of the insurance provider’s stock worth $10,371,000 after purchasing an additional 50,395 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Reinsurance Group of America by 3.4% in the 1st quarter. Principal Financial Group Inc. now owns 149,514 shares of the insurance provider’s stock worth $30,525,000 after purchasing an additional 4,913 shares in the last quarter. Finally, Interval Partners LP boosted its holdings in shares of Reinsurance Group of America by 186.5% during the 4th quarter. Interval Partners LP now owns 69,739 shares of the insurance provider’s stock worth $14,189,000 after purchasing an additional 45,399 shares during the last quarter. Institutional investors and hedge funds own 95.11% of the company’s stock.

Reinsurance Group of America Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Reinsurance Group of America (NYSE:RGA)

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