Reinsurance Group of America (NYSE:RGA) Price Target Raised to $208.00

Reinsurance Group of America (NYSE:RGA) had its price target raised by JPMorgan Chase & Co. from $195.00 to $208.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a neutral rating on the insurance provider’s stock.

A number of other brokerages have also weighed in on RGA. Raymond James boosted their price objective on Reinsurance Group of America from $212.00 to $228.00 and gave the stock a strong-buy rating in a research report on Friday, June 14th. Keefe, Bruyette & Woods raised their price target on shares of Reinsurance Group of America from $220.00 to $235.00 and gave the company an outperform rating in a research note on Tuesday, May 7th. Jefferies Financial Group raised their target price on Reinsurance Group of America from $240.00 to $247.00 and gave the stock a buy rating in a research report on Friday, June 28th. Morgan Stanley raised their price objective on Reinsurance Group of America from $178.00 to $185.00 and gave the stock an equal weight rating in a research report on Monday, April 15th. Finally, UBS Group boosted their price target on shares of Reinsurance Group of America from $223.00 to $240.00 and gave the stock a buy rating in a research report on Thursday, May 30th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $221.18.

Reinsurance Group of America Trading Down 0.5 %

Shares of RGA opened at $204.87 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.19 and a current ratio of 0.19. Reinsurance Group of America has a 52-week low of $135.07 and a 52-week high of $213.21. The firm has a market cap of $13.48 billion, a price-to-earnings ratio of 15.92 and a beta of 0.92. The business’s fifty day moving average is $204.50 and its 200-day moving average is $185.80.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Friday, May 3rd. The insurance provider reported $6.02 EPS for the quarter, topping the consensus estimate of $4.55 by $1.47. The firm had revenue of $6.34 billion during the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm earned $5.16 earnings per share. Equities analysts anticipate that Reinsurance Group of America will post 20.94 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

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

Insider Activity

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

Hedge Funds Weigh In On Reinsurance Group of America

Several large investors have recently modified their holdings of the business. New Covenant Trust Company N.A. bought a new stake in Reinsurance Group of America during the 1st quarter valued at $28,000. Rise Advisors LLC purchased a new stake in Reinsurance Group of America during the 1st quarter worth about $29,000. Lindbrook Capital LLC grew its holdings in Reinsurance Group of America by 129.9% during the 4th quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock valued at $25,000 after buying an additional 87 shares in the last quarter. LRI Investments LLC bought a new stake in shares of Reinsurance Group of America during the first quarter valued at about $33,000. Finally, Pineridge Advisors LLC bought a new position in Reinsurance Group of America in the 4th quarter valued at $26,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.

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.