Barclays Boosts Reinsurance Group of America (NYSE:RGA) Price Target to $255.00

Reinsurance Group of America (NYSE:RGA) had its price target raised by Barclays from $250.00 to $255.00 in a report issued on Friday morning,Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

Several other equities analysts have also recently commented on the company. Royal Bank of Canada upped their price target on Reinsurance Group of America from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, November 4th. StockNews.com upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Morgan Stanley decreased their price target on shares of Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Wells Fargo & Company increased their price objective on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, Keefe, Bruyette & Woods raised shares of Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, October 3rd. Three analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $227.77.

Reinsurance Group of America Trading Up 0.7 %

Shares of RGA stock opened at $230.70 on Friday. The firm has a market capitalization of $15.19 billion, a P/E ratio of 21.18 and a beta of 0.92. Reinsurance Group of America has a 1 year low of $157.48 and a 1 year high of $233.14. The firm’s fifty day simple moving average is $219.09 and its 200 day simple moving average is $212.96. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.45.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.31 by $0.82. The company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.29 billion. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%. The business’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.57 EPS. As a group, sell-side analysts predict that Reinsurance Group of America will post 21.93 EPS for the current year.

Reinsurance Group of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be given a $0.89 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.56 annualized dividend and a yield of 1.54%. Reinsurance Group of America’s payout ratio is 32.69%.

Insiders Place Their Bets

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $218.97, for a total value of $264,734.73. Following the completion of the transaction, the executive vice president now directly owns 12,357 shares of the company’s stock, valued at approximately $2,705,812.29. The trade was a 8.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.37% of the company’s stock.

Institutional Trading of Reinsurance Group of America

A number of hedge funds and other institutional investors have recently modified their holdings of RGA. Armstrong Advisory Group Inc. acquired a new position in Reinsurance Group of America during the 3rd quarter worth $25,000. New Covenant Trust Company N.A. bought a new position in shares of Reinsurance Group of America in the 1st quarter valued at about $28,000. International Assets Investment Management LLC acquired a new stake in shares of Reinsurance Group of America during the 2nd quarter worth approximately $28,000. Family Firm Inc. bought a new stake in shares of Reinsurance Group of America during the second quarter worth approximately $29,000. Finally, LRI Investments LLC acquired a new position in Reinsurance Group of America in the first quarter valued at approximately $33,000. Institutional investors and hedge funds 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.