Reinsurance Group of America (NYSE:RGA) PT Raised to $241.00

Reinsurance Group of America (NYSE:RGA) had its price objective lifted by Evercore ISI from $225.00 to $241.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the insurance provider’s stock.

Several other research analysts have also recently issued reports on RGA. Wells Fargo & Company raised their target price on Reinsurance Group of America from $210.00 to $227.00 and gave the stock an overweight rating in a research report on Friday, May 10th. Raymond James lifted their price objective on Reinsurance Group of America from $212.00 to $228.00 and gave the company a strong-buy rating in a research report on Friday, June 14th. UBS Group lifted their price objective on Reinsurance Group of America from $223.00 to $240.00 and gave the company a buy rating in a research report on Thursday, May 30th. Piper Sandler lifted their price objective on Reinsurance Group of America from $195.00 to $220.00 and gave the company an overweight rating in a research report on Friday, April 5th. Finally, Keefe, Bruyette & Woods lifted their price objective on Reinsurance Group of America from $220.00 to $235.00 and gave the company an outperform rating in a research report on Tuesday, May 7th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $213.36.

Reinsurance Group of America Trading Down 1.0 %

Shares of NYSE:RGA opened at $204.90 on Wednesday. The stock has a market capitalization of $13.48 billion, a price-to-earnings ratio of 15.92 and a beta of 0.92. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.19 and a current ratio of 0.19. The stock’s 50-day simple moving average is $202.23 and its two-hundred day simple moving average is $184.22. Reinsurance Group of America has a 52-week low of $135.07 and a 52-week high of $213.21.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Friday, May 3rd. The insurance provider reported $6.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.55 by $1.47. The business had revenue of $6.34 billion for the quarter, compared to analysts’ expectations of $4.54 billion. Reinsurance Group of America had a return on equity of 15.94% and a net margin of 4.16%. During the same period last year, the firm posted $5.16 earnings per share. Analysts expect that Reinsurance Group of America will post 20.94 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date was Monday, May 13th. Reinsurance Group of America’s payout ratio is 26.42%.

Insiders Place Their Bets

In other Reinsurance Group of America news, EVP John W. Hayden sold 1,767 shares of Reinsurance Group of America stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $206.85, for a total value of $365,503.95. Following the sale, the executive vice president now owns 16,490 shares of the company’s stock, valued at approximately $3,410,956.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.37% of the company’s stock.

Institutional Trading of Reinsurance Group of America

A number of large investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC increased its position in shares of Reinsurance Group of America by 39.2% during the 3rd quarter. Hsbc Holdings PLC now owns 29,074 shares of the insurance provider’s stock valued at $4,253,000 after purchasing an additional 8,184 shares during the last quarter. LPL Financial LLC increased its position in shares of Reinsurance Group of America by 4.4% during the 3rd quarter. LPL Financial LLC now owns 25,037 shares of the insurance provider’s stock valued at $3,635,000 after purchasing an additional 1,065 shares during the last quarter. Treasurer of the State of North Carolina increased its position in shares of Reinsurance Group of America by 5.2% during the 3rd quarter. Treasurer of the State of North Carolina now owns 42,460 shares of the insurance provider’s stock valued at $6,165,000 after purchasing an additional 2,087 shares during the last quarter. Gotham Asset Management LLC bought a new position in shares of Reinsurance Group of America during the 3rd quarter valued at approximately $1,854,000. Finally, Quadrature Capital Ltd bought a new position in shares of Reinsurance Group of America during the 3rd quarter valued at approximately $333,000. Institutional investors own 95.11% of the company’s stock.

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.