Brokerages Set Reinsurance Group of America, Incorporated (NYSE:RGA) PT at $225.92

Shares of Reinsurance Group of America, Incorporated (NYSE:RGA) have been assigned a consensus rating of “Moderate Buy” from the thirteen brokerages that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $226.62.

Several analysts have recently weighed in on RGA shares. Raymond James raised their price objective on shares of Reinsurance Group of America from $228.00 to $250.00 and gave the company a “strong-buy” rating in a research report on Tuesday, September 24th. Piper Sandler raised their price target on Reinsurance Group of America from $237.00 to $242.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Barclays cut their price objective on Reinsurance Group of America from $255.00 to $250.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. Royal Bank of Canada raised their price objective on Reinsurance Group of America from $225.00 to $235.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Finally, Wells Fargo & Company upped their target price on Reinsurance Group of America from $239.00 to $244.00 and gave the stock an “overweight” rating in a research note on Thursday.

Reinsurance Group of America Price Performance

Reinsurance Group of America stock opened at $216.49 on Friday. The business has a 50-day simple moving average of $212.62 and a 200 day simple moving average of $206.66. Reinsurance Group of America has a 52 week low of $143.96 and a 52 week high of $227.87. The stock has a market cap of $14.24 billion, a price-to-earnings ratio of 16.82 and a beta of 0.91. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.52.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 earnings per share for the quarter, topping the consensus estimate of $4.94 by $0.54. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The company had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same period in the prior year, the business earned $4.40 earnings per share. Reinsurance Group of America’s revenue for the quarter was up 17.4% compared to the same quarter last year. On average, research analysts forecast that Reinsurance Group of America will post 21.72 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were given a dividend of $0.89 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.56 annualized dividend and a yield of 1.64%. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.85. Reinsurance Group of America’s dividend payout ratio is presently 27.66%.

Insider Buying and Selling at Reinsurance Group of America

In other news, EVP William L. Hutton sold 1,209 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $218.97, for a total transaction of $264,734.73. Following the completion of the sale, the executive vice president now directly owns 12,357 shares in the company, valued at approximately $2,705,812.29. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed 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

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its stake in shares of Reinsurance Group of America by 8.9% during the 3rd quarter. GAMMA Investing LLC now owns 609 shares of the insurance provider’s stock valued at $133,000 after purchasing an additional 50 shares in the last quarter. GHP Investment Advisors Inc. boosted its position in Reinsurance Group of America by 0.7% during the 2nd quarter. GHP Investment Advisors Inc. now owns 9,462 shares of the insurance provider’s stock valued at $1,942,000 after acquiring an additional 62 shares in the last quarter. Covestor Ltd grew its holdings in shares of Reinsurance Group of America by 20.3% during the 1st quarter. Covestor Ltd now owns 374 shares of the insurance provider’s stock worth $72,000 after acquiring an additional 63 shares during the period. Fiduciary Family Office LLC raised its position in shares of Reinsurance Group of America by 3.1% in the 2nd quarter. Fiduciary Family Office LLC now owns 2,550 shares of the insurance provider’s stock worth $523,000 after acquiring an additional 76 shares in the last quarter. Finally, Hilltop National Bank lifted its stake in shares of Reinsurance Group of America by 13.1% in the 2nd quarter. Hilltop National Bank now owns 706 shares of the insurance provider’s stock valued at $145,000 after purchasing an additional 82 shares during the period. 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.