Reinsurance Group of America (NYSE:RGA) Given New $250.00 Price Target at Barclays

Reinsurance Group of America (NYSE:RGA) had its price objective decreased by Barclays from $255.00 to $250.00 in a report released on Tuesday, Benzinga reports. Barclays currently has an overweight rating on the insurance provider’s stock.

Other analysts have also issued reports about the company. Keefe, Bruyette & Woods raised Reinsurance Group of America from a moderate buy rating to a strong-buy rating in a research note on Thursday, October 3rd. Raymond James lifted their price target on Reinsurance Group of America from $228.00 to $250.00 and gave the company a strong-buy rating in a research note on Tuesday, September 24th. Citigroup raised their price objective on Reinsurance Group of America from $194.00 to $252.00 and gave the stock a buy rating in a research report on Tuesday, July 23rd. Wells Fargo & Company raised their price objective on Reinsurance Group of America from $236.00 to $239.00 and gave the stock an overweight rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. raised their price objective on Reinsurance Group of America from $220.00 to $222.00 and gave the stock a neutral rating in a research report on Thursday, October 3rd. Four analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $226.62.

Reinsurance Group of America Stock Performance

Shares of RGA stock opened at $216.35 on Tuesday. The business’s 50-day moving average price is $212.42 and its 200-day moving average price is $206.38. Reinsurance Group of America has a 12 month low of $143.96 and a 12 month high of $227.87. The firm has a market capitalization of $14.23 billion, a price-to-earnings ratio of 16.81 and a beta of 0.91. 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 announced its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, beating 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 analyst estimates of $5.07 billion. During the same period last year, the firm posted $4.40 earnings per share. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. Equities research analysts forecast that Reinsurance Group of America will post 21.72 EPS for the current year.

Reinsurance Group of America Increases Dividend

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

Insiders Place Their Bets

In other news, EVP William L. Hutton sold 1,209 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was 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 owns 12,357 shares in the company, valued at $2,705,812.29. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.37% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Reinsurance Group of America

Several hedge funds and other institutional investors have recently modified their holdings of the company. Armstrong Advisory Group Inc. purchased a new position in shares of Reinsurance Group of America during the third quarter valued at approximately $25,000. Pineridge Advisors LLC purchased a new position in shares of Reinsurance Group of America during the fourth quarter valued at approximately $26,000. New Covenant Trust Company N.A. purchased a new position in shares of Reinsurance Group of America during the first quarter valued at approximately $28,000. International Assets Investment Management LLC purchased a new position in shares of Reinsurance Group of America during the second quarter valued at approximately $28,000. Finally, Rise Advisors LLC purchased a new position in shares of Reinsurance Group of America during the first quarter valued at approximately $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.