Reinsurance Group of America (NYSE:RGA) Price Target Raised to $293.00

Reinsurance Group of America (NYSE:RGA) had its price objective boosted by JPMorgan Chase & Co. from $286.00 to $293.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

Other research analysts have also recently issued research reports about the company. TD Cowen boosted their price target on Reinsurance Group of America from $212.00 to $235.00 and gave the stock a “hold” rating in a research note on Wednesday, July 22nd. Wall Street Zen upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Wells Fargo & Company lifted their price objective on Reinsurance Group of America from $261.00 to $269.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Barclays upped their target price on Reinsurance Group of America from $278.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Finally, Evercore reiterated 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. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Reinsurance Group of America has an average rating of “Moderate Buy” and a consensus price target of $257.11.

Reinsurance Group of America Price Performance

RGA opened at $250.37 on Tuesday. Reinsurance Group of America has a twelve month low of $178.21 and a twelve month high of $250.71. The firm has a market cap of $16.35 billion, a price-to-earnings ratio of 11.00 and a beta of 0.47. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.41. The company has a fifty day simple moving average of $226.23 and a 200 day simple moving average of $215.09.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, August 6th. The insurance provider reported $8.89 EPS for the quarter, topping analysts’ consensus estimates of $6.50 by $2.39. The firm had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.67 billion. Reinsurance Group of America had a net margin of 5.81% and a return on equity of 14.78%. The firm’s revenue was up 18.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.72 EPS. Equities research analysts expect that Reinsurance Group of America will post 27.72 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a dividend of $0.98 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.93. This represents a $3.92 annualized dividend and a dividend yield of 1.6%. Reinsurance Group of America’s dividend payout ratio is 16.34%.

Insider Buying and Selling

In related news, EVP John W. Hayden sold 414 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total value of $88,989.30. Following the completion of the sale, the executive vice president directly owned 20,949 shares of the company’s stock, valued at $4,502,987.55. The trade was a 1.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RGA. Activest Wealth Management bought a new stake in shares of Reinsurance Group of America in the 4th quarter valued at approximately $30,000. Tobam lifted its stake in Reinsurance Group of America by 244.7% during the fourth quarter. Tobam now owns 162 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 115 shares during the last quarter. International Assets Investment Management LLC bought a new position in Reinsurance Group of America during the fourth quarter worth $35,000. Advisory Services Network LLC acquired a new position in Reinsurance Group of America in the third quarter worth $38,000. Finally, Entrust Financial LLC acquired a new position in Reinsurance Group of America in the fourth quarter worth $40,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

About Reinsurance Group of America

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.