Barclays Initiates Coverage on Reinsurance Group of America (NYSE:RGA)

Barclays began coverage on shares of Reinsurance Group of America (NYSE:RGA) in a research report released on Wednesday, MarketBeat.com reports. The brokerage issued an overweight rating and a $255.00 price target on the insurance provider’s stock.

Several other brokerages also recently commented on RGA. Wells Fargo & Company increased their target price on Reinsurance Group of America from $236.00 to $239.00 and gave the company an overweight rating in a research note on Friday, August 9th. Raymond James raised their price target on Reinsurance Group of America from $212.00 to $228.00 and gave the stock a strong-buy rating in a research note on Friday, June 14th. Jefferies Financial Group raised their price target on Reinsurance Group of America from $63.00 to $64.00 and gave the stock a buy rating in a research note on Wednesday, July 10th. Piper Sandler raised their price target on Reinsurance Group of America from $228.00 to $235.00 and gave the stock an overweight rating in a research note on Friday, June 28th. Finally, Morgan Stanley dropped their price target on Reinsurance Group of America from $238.00 to $236.00 and set an equal weight rating on the stock in a research note on Monday, August 19th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Reinsurance Group of America has a consensus rating of Moderate Buy and an average target price of $223.33.

Reinsurance Group of America Stock Performance

Shares of RGA opened at $212.24 on Wednesday. The business’s fifty day simple moving average is $211.40 and its two-hundred day simple moving average is $200.59. 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 has a 12 month low of $138.61 and a 12 month high of $227.87. The company has a market cap of $13.98 billion, a price-to-earnings ratio of 16.49 and a beta of 0.91.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, beating the consensus estimate 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 business had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $5.07 billion. During the same period last year, the business posted $4.40 EPS. The company’s revenue was up 17.4% compared to the same quarter last year. Research analysts anticipate that Reinsurance Group of America will post 21.5 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were issued a $0.89 dividend. This is a boost 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 1.68%. The ex-dividend date was Friday, August 9th. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 27.66%.

Hedge Funds Weigh In On Reinsurance Group of America

A number of institutional investors have recently bought and sold shares of RGA. Norges Bank bought a new stake in Reinsurance Group of America during the fourth quarter valued at about $122,301,000. Junto Capital Management LP bought a new stake in Reinsurance Group of America during the fourth quarter valued at about $92,083,000. Zurich Insurance Group Ltd FI raised its holdings in Reinsurance Group of America by 681.8% during the second quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider’s stock valued at $104,244,000 after acquiring an additional 442,883 shares during the period. Balyasny Asset Management L.P. bought a new stake in Reinsurance Group of America during the fourth quarter valued at about $67,177,000. Finally, Corient Private Wealth LLC raised its holdings in Reinsurance Group of America by 1,965.4% during the fourth quarter. Corient Private Wealth LLC now owns 298,352 shares of the insurance provider’s stock valued at $48,267,000 after acquiring an additional 283,907 shares during the period. 95.11% of the stock is owned by institutional investors.

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.