Reinsurance Group of America (NYSE:RGA) Price Target Lowered to $250.00 at Barclays

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

Several other research analysts have also recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on Reinsurance Group of America from $220.00 to $222.00 and gave the stock a neutral rating in a research note on Thursday, October 3rd. Piper Sandler increased their target price on shares of Reinsurance Group of America from $237.00 to $242.00 and gave the stock an overweight rating in a report on Wednesday, October 2nd. Wells Fargo & Company upped their price target on shares of 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. Royal Bank of Canada lifted their price objective on shares of 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, StockNews.com upgraded Reinsurance Group of America from a hold rating to a buy rating in a report on Friday, September 27th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $226.62.

Reinsurance Group of America Stock Down 1.0 %

Shares of NYSE RGA opened at $214.16 on Tuesday. Reinsurance Group of America has a 1 year low of $143.96 and a 1 year high of $227.87. The firm has a 50-day simple moving average of $212.59 and a two-hundred day simple moving average of $206.33. The company has a market cap of $14.09 billion, a P/E ratio of 16.64 and a beta of 0.91. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.17 and a quick ratio of 0.17.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (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 during the quarter, compared to analyst estimates of $5.07 billion. During the same period last year, the company earned $4.40 EPS. Reinsurance Group of America’s quarterly revenue was up 17.4% compared to the same quarter last year. Research analysts anticipate that Reinsurance Group of America will post 21.72 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were paid a $0.89 dividend. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.56 dividend on an annualized basis and a yield of 1.66%. Reinsurance Group of America’s dividend payout ratio (DPR) is 27.66%.

Insider Buying and Selling

In related news, EVP William L. Hutton sold 1,209 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were 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 in the company, valued at approximately $2,705,812.29. This represents a 0.00 % decrease in their position. The sale 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 Trading of Reinsurance Group of America

Hedge funds have recently modified their holdings of the stock. Zurich Insurance Group Ltd FI lifted its holdings in Reinsurance Group of America by 681.8% in 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. acquired a new stake in Reinsurance Group of America during the fourth quarter valued at $67,177,000. Millennium Management LLC increased its holdings in Reinsurance Group of America by 43.8% in the second quarter. Millennium Management LLC now owns 437,266 shares of the insurance provider’s stock valued at $89,758,000 after buying an additional 133,212 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of Reinsurance Group of America in the first quarter worth about $24,918,000. Finally, Earnest Partners LLC boosted its stake in shares of Reinsurance Group of America by 4.2% during the 1st quarter. Earnest Partners LLC now owns 2,577,901 shares of the insurance provider’s stock worth $497,226,000 after acquiring an additional 104,256 shares in the last quarter. 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.