Reinsurance Group of America (NYSE:RGA) PT Raised to $250.00 at Raymond James

Reinsurance Group of America (NYSE:RGA) had its target price upped by Raymond James from $228.00 to $250.00 in a research note issued to investors on Tuesday morning, Benzinga reports. The brokerage currently has a strong-buy rating on the insurance provider’s stock.

A number of other research analysts also recently issued reports on RGA. UBS Group upped their price target on Reinsurance Group of America from $223.00 to $240.00 and gave the company a buy rating in a report on Thursday, May 30th. Jefferies Financial Group upped their price target on Reinsurance Group of America from $63.00 to $64.00 and gave the company a buy rating in a report on Wednesday, July 10th. Evercore ISI upped their price target on Reinsurance Group of America from $225.00 to $241.00 and gave the company an outperform rating in a report on Wednesday, June 26th. Barclays assumed coverage on Reinsurance Group of America in a report on Wednesday, September 4th. They set an overweight rating and a $255.00 price target on the stock. Finally, Piper Sandler upped their price target on Reinsurance Group of America from $228.00 to $235.00 and gave the company an overweight rating in a report on Friday, June 28th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $225.17.

Reinsurance Group of America Trading Down 1.4 %

NYSE RGA opened at $215.61 on Tuesday. Reinsurance Group of America has a 12 month low of $140.39 and a 12 month high of $227.87. The stock has a market cap of $14.20 billion, a P/E ratio of 16.75 and a beta of 0.91. The stock’s fifty day moving average price is $213.34 and its 200-day moving average price is $204.26. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.52.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, topping analysts’ consensus estimates of $4.94 by $0.54. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. The firm 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 firm posted $4.40 earnings per share. The company’s quarterly revenue was up 17.4% on a year-over-year basis. As a group, equities analysts forecast that Reinsurance Group of America will post 21.7 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were paid a $0.89 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.56 annualized dividend and a dividend yield of 1.65%. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.85. Reinsurance Group of America’s dividend payout ratio (DPR) is 27.66%.

Insider Transactions at Reinsurance Group of America

In other news, EVP William L. Hutton sold 1,209 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $218.97, for a total value of $264,734.73. Following the transaction, the executive vice president now owns 12,357 shares of the company’s stock, valued at $2,705,812.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.37% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RGA. Pineridge Advisors LLC bought a new position in shares of Reinsurance Group of America in the fourth quarter worth about $26,000. New Covenant Trust Company N.A. bought a new position in shares of Reinsurance Group of America in the first quarter worth about $28,000. International Assets Investment Management LLC bought a new position in shares of Reinsurance Group of America in the second quarter worth about $28,000. Rise Advisors LLC purchased a new stake in shares of Reinsurance Group of America during the first quarter worth about $29,000. Finally, Family Firm Inc. purchased a new stake in shares of Reinsurance Group of America during the second quarter worth about $29,000. 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.