Morgan Stanley Boosts Reinsurance Group of America (NYSE:RGA) Price Target to $185.00

Reinsurance Group of America (NYSE:RGA) had its price target boosted by Morgan Stanley from $178.00 to $185.00 in a research note released on Monday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the insurance provider’s stock.

A number of other brokerages have also issued reports on RGA. Royal Bank of Canada reissued an outperform rating and issued a $212.00 target price on shares of Reinsurance Group of America in a research report on Friday, April 12th. JPMorgan Chase & Co. raised their price target on Reinsurance Group of America from $170.00 to $189.00 and gave the company a neutral rating in a research note on Tuesday, April 2nd. Keefe, Bruyette & Woods raised their price target on Reinsurance Group of America from $200.00 to $220.00 and gave the company an outperform rating in a research note on Wednesday, April 10th. Wells Fargo & Company raised their price target on Reinsurance Group of America from $193.00 to $210.00 and gave the company an overweight rating in a research note on Thursday, April 11th. Finally, Piper Sandler raised their price target on Reinsurance Group of America from $195.00 to $220.00 and gave the company an overweight rating in a research note on Friday, April 5th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $194.38.

Reinsurance Group of America Stock Down 0.2 %

Shares of Reinsurance Group of America stock opened at $180.15 on Monday. The business’s 50 day simple moving average is $181.66 and its 200 day simple moving average is $167.23. Reinsurance Group of America has a 52-week low of $133.13 and a 52-week high of $196.25. The firm has a market cap of $11.85 billion, a PE ratio of 13.41 and a beta of 0.89. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.17 and a current ratio of 0.17.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Friday, February 2nd. The insurance provider reported $4.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.40 by $0.33. Reinsurance Group of America had a return on equity of 16.20% and a net margin of 4.86%. The business had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same quarter last year, the firm earned $2.99 EPS. Reinsurance Group of America’s revenue for the quarter was up 14.9% compared to the same quarter last year. On average, analysts predict that Reinsurance Group of America will post 19.46 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 13th were paid a dividend of $0.85 per share. The ex-dividend date was Monday, February 12th. This represents a $3.40 annualized dividend and a dividend yield of 1.89%. Reinsurance Group of America’s dividend payout ratio is currently 25.32%.

Insider Transactions at Reinsurance Group of America

In related news, EVP William L. Hutton sold 1,588 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $171.83, for a total value of $272,866.04. Following the completion of the sale, the executive vice president now directly owns 13,625 shares in the company, valued at approximately $2,341,183.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP William L. Hutton sold 1,588 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $171.83, for a total value of $272,866.04. Following the completion of the sale, the executive vice president now directly owns 13,625 shares in the company, valued at approximately $2,341,183.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William L. Hutton sold 1,908 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $181.84, for a total value of $346,950.72. Following the completion of the sale, the executive vice president now owns 13,363 shares of the company’s stock, valued at $2,429,927.92. The disclosure for this sale can be found here. In the last three months, insiders sold 6,462 shares of company stock worth $1,162,239. 1.55% of the stock is owned by company insiders.

Institutional Trading of Reinsurance Group of America

Several institutional investors have recently added to or reduced their stakes in the company. First Bank & Trust acquired a new position in Reinsurance Group of America in the 1st quarter valued at $209,000. Wealth Enhancement Advisory Services LLC raised its holdings in Reinsurance Group of America by 13.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,394 shares of the insurance provider’s stock valued at $655,000 after acquiring an additional 392 shares in the last quarter. Janiczek Wealth Management LLC raised its holdings in Reinsurance Group of America by 40.8% in the 1st quarter. Janiczek Wealth Management LLC now owns 383 shares of the insurance provider’s stock valued at $74,000 after acquiring an additional 111 shares in the last quarter. Benson Investment Management Company Inc. acquired a new position in Reinsurance Group of America in the 1st quarter valued at $4,886,000. Finally, Paragon Capital Management Ltd acquired a new position in Reinsurance Group of America in the 1st quarter valued at $225,000. 95.11% of the stock is currently owned by institutional investors.

About Reinsurance Group of America

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.