Reinsurance Group of America (NYSE:RGA) Given New $256.00 Price Target at Barclays

Reinsurance Group of America (NYSE:RGA) had its price target hoisted by Barclays from $245.00 to $256.00 in a research report released on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the insurance provider’s stock.

Several other research analysts have also issued reports on the company. Morgan Stanley raised their target price on Reinsurance Group of America from $208.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 3rd. TD Cowen reaffirmed a “hold” rating on shares of Reinsurance Group of America in a research report on Wednesday, January 28th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Reinsurance Group of America in a research report on Monday, December 29th. Wells Fargo & Company raised their target price on Reinsurance Group of America from $238.00 to $261.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $263.00 target price on shares of Reinsurance Group of America in a research report on Friday, February 6th. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Reinsurance Group of America presently has an average rating of “Moderate Buy” and an average price target of $251.17.

Reinsurance Group of America Trading Up 1.5%

NYSE RGA opened at $211.50 on Wednesday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.42. Reinsurance Group of America has a twelve month low of $164.58 and a twelve month high of $229.21. The company has a market cap of $13.87 billion, a price-to-earnings ratio of 11.92 and a beta of 0.52. The business’s fifty day moving average is $210.04 and its 200 day moving average is $199.82.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Thursday, February 5th. The insurance provider reported $7.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.86 by $1.89. The business had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.25 billion. Reinsurance Group of America had a return on equity of 12.99% and a net margin of 4.99%.Reinsurance Group of America’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same period last year, the company earned $4.99 EPS. As a group, sell-side analysts expect that Reinsurance Group of America will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 3rd. Stockholders of record on Tuesday, February 17th were given a $0.93 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $3.72 annualized dividend and a dividend yield of 1.8%. Reinsurance Group of America’s dividend payout ratio (DPR) is 20.96%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RGA. Nordea Investment Management AB increased its stake in Reinsurance Group of America by 3.8% during the 4th quarter. Nordea Investment Management AB now owns 570,631 shares of the insurance provider’s stock valued at $116,597,000 after purchasing an additional 20,722 shares in the last quarter. ProShare Advisors LLC increased its stake in Reinsurance Group of America by 3.2% during the 3rd quarter. ProShare Advisors LLC now owns 182,162 shares of the insurance provider’s stock valued at $34,999,000 after purchasing an additional 5,586 shares in the last quarter. Y Intercept Hong Kong Ltd increased its stake in Reinsurance Group of America by 94.1% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 18,504 shares of the insurance provider’s stock valued at $3,555,000 after purchasing an additional 8,971 shares in the last quarter. Algebris UK Ltd. bought a new stake in Reinsurance Group of America during the 3rd quarter valued at $10,750,000. Finally, Nuance Investments LLC increased its stake in Reinsurance Group of America by 30.6% during the 3rd quarter. Nuance Investments LLC now owns 47,334 shares of the insurance provider’s stock valued at $9,094,000 after purchasing an additional 11,095 shares in the last quarter. 95.11% of the stock is owned by institutional investors.

Reinsurance Group of America Company Profile

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.