Brokerages Set Reinsurance Group of America, Incorporated (NYSE:RGA) PT at $231.85

Reinsurance Group of America, Incorporated (NYSE:RGA) has been given a consensus recommendation of “Moderate Buy” by the thirteen brokerages that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $231.85.

A number of research analysts have recently commented on RGA shares. Barclays dropped their price objective on Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Evercore ISI dropped their price target on shares of Reinsurance Group of America from $280.00 to $270.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. Morgan Stanley reduced their price objective on shares of Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. Wells Fargo & Company increased their target price on shares of Reinsurance Group of America from $263.00 to $264.00 and gave the company an “overweight” rating in a research report on Tuesday, February 25th. Finally, Piper Sandler cut their price target on shares of Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th.

Institutional Trading of Reinsurance Group of America

Hedge funds have recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. raised its stake in shares of Reinsurance Group of America by 86.7% during the third quarter. Daiwa Securities Group Inc. now owns 2,800 shares of the insurance provider’s stock worth $610,000 after purchasing an additional 1,300 shares during the last quarter. Private Trust Co. NA grew its position in Reinsurance Group of America by 333.3% in the 3rd quarter. Private Trust Co. NA now owns 156 shares of the insurance provider’s stock valued at $34,000 after buying an additional 120 shares during the last quarter. Bank of Montreal Can raised its position in Reinsurance Group of America by 146.2% during the 3rd quarter. Bank of Montreal Can now owns 77,409 shares of the insurance provider’s stock worth $16,690,000 after buying an additional 45,972 shares during the last quarter. Townsquare Capital LLC lifted its stake in shares of Reinsurance Group of America by 17.3% in the 3rd quarter. Townsquare Capital LLC now owns 1,813 shares of the insurance provider’s stock worth $395,000 after acquiring an additional 267 shares during the period. Finally, Bridgewater Associates LP boosted its holdings in shares of Reinsurance Group of America by 51.5% in the third quarter. Bridgewater Associates LP now owns 30,638 shares of the insurance provider’s stock valued at $6,675,000 after acquiring an additional 10,411 shares in the last quarter. 95.11% of the stock is owned by institutional investors and hedge funds.

Reinsurance Group of America Trading Up 0.6 %

NYSE RGA opened at $198.14 on Friday. Reinsurance Group of America has a 52 week low of $178.84 and a 52 week high of $233.81. The firm has a 50 day moving average of $203.89 and a two-hundred day moving average of $213.33. The stock has a market capitalization of $13.08 billion, a PE ratio of 18.45 and a beta of 0.91. The company has a quick ratio of 0.17, a current ratio of 0.15 and a debt-to-equity ratio of 0.46.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Thursday, February 6th. The insurance provider reported $4.99 EPS for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.23). Reinsurance Group of America had a return on equity of 14.55% and a net margin of 3.24%. As a group, research analysts expect that Reinsurance Group of America will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were given a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.80%. The ex-dividend date was Tuesday, February 18th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 33.15%.

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.