Reinsurance Group of America (NYSE:RGA) Price Target Lowered to $252.00 at Barclays

Reinsurance Group of America (NYSE:RGA) had its target price cut by Barclays from $255.00 to $252.00 in a research report report published on Monday,Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

A number of other equities research analysts have also recently weighed in on RGA. Wells Fargo & Company lifted 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. Piper Sandler boosted their price target on shares of Reinsurance Group of America from $237.00 to $242.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. increased their price objective on shares of Reinsurance Group of America from $220.00 to $222.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. TD Cowen assumed coverage on Reinsurance Group of America in a report on Wednesday, October 9th. They set a “hold” rating and a $235.00 target price on the stock. Finally, Raymond James upped their target price on Reinsurance Group of America from $228.00 to $250.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, September 24th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $227.54.

Reinsurance Group of America Price Performance

Shares of NYSE:RGA opened at $218.30 on Monday. The firm’s 50 day moving average is $218.98 and its two-hundred day moving average is $214.93. The firm has a market capitalization of $14.38 billion, a P/E ratio of 20.05 and a beta of 0.94. 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 has a 52 week low of $163.81 and a 52 week high of $233.81.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, October 31st. The insurance provider reported $6.13 EPS for the quarter, beating the consensus estimate of $5.31 by $0.82. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The firm had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.29 billion. During the same period last year, the firm earned $5.57 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. Analysts anticipate that Reinsurance Group of America will post 21.67 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were given a $0.89 dividend. The ex-dividend date was Friday, November 8th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.63%. Reinsurance Group of America’s dividend payout ratio (DPR) is 32.69%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RGA. Commonwealth Equity Services LLC raised its position in Reinsurance Group of America by 10.9% during the second quarter. Commonwealth Equity Services LLC now owns 4,934 shares of the insurance provider’s stock valued at $1,013,000 after buying an additional 484 shares during the period. CIBC Asset Management Inc lifted its position in shares of Reinsurance Group of America by 8.0% in the second quarter. CIBC Asset Management Inc now owns 2,225 shares of the insurance provider’s stock worth $457,000 after purchasing an additional 165 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Reinsurance Group of America by 1.6% during the second quarter. Arizona State Retirement System now owns 18,409 shares of the insurance provider’s stock worth $3,779,000 after purchasing an additional 297 shares during the period. Candriam S.C.A. grew its position in Reinsurance Group of America by 6.8% during the second quarter. Candriam S.C.A. now owns 23,855 shares of the insurance provider’s stock valued at $4,896,000 after purchasing an additional 1,527 shares in the last quarter. Finally, Savant Capital LLC increased its stake in Reinsurance Group of America by 5.1% in the 2nd quarter. Savant Capital LLC now owns 6,494 shares of the insurance provider’s stock valued at $1,333,000 after buying an additional 318 shares during the period. 95.11% of the stock is owned by hedge funds and other institutional investors.

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.