Reinsurance Group of America (NYSE:RGA) Price Target Increased to $244.00 by Analysts at Wells Fargo & Company

Reinsurance Group of America (NYSE:RGA) had its price target raised by Wells Fargo & Company from $239.00 to $244.00 in a report issued on Thursday, Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

A number of other equities research analysts have also commented on the stock. Citigroup raised their price objective on shares of Reinsurance Group of America from $194.00 to $252.00 and gave the stock a buy rating in a report on Tuesday, July 23rd. Piper Sandler boosted their price target on Reinsurance Group of America from $237.00 to $242.00 and gave the company an overweight rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods upgraded Reinsurance Group of America from a moderate buy rating to a strong-buy rating in a report on Thursday, October 3rd. Evercore ISI boosted their target price on Reinsurance Group of America from $225.00 to $241.00 and gave the company an outperform rating in a research note on Wednesday, June 26th. Finally, Morgan Stanley decreased their price target on shares of Reinsurance Group of America from $238.00 to $236.00 and set an equal weight rating for the company in a research note on Monday, August 19th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Reinsurance Group of America presently has an average rating of Moderate Buy and a consensus target price of $226.62.

Reinsurance Group of America Stock Performance

Shares of Reinsurance Group of America stock opened at $216.49 on Thursday. Reinsurance Group of America has a 12 month low of $143.96 and a 12 month high of $227.87. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $14.24 billion, a PE ratio of 16.82 and a beta of 0.91. The stock’s fifty day simple moving average is $212.62 and its 200 day simple moving average is $206.75.

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

Reinsurance Group of America Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were issued a dividend of $0.89 per share. The ex-dividend date was Friday, August 9th. This represents a $3.56 dividend on an annualized basis and a yield of 1.64%. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.85. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 27.66%.

Insider Buying and Selling at Reinsurance Group of America

In other news, EVP William L. Hutton sold 1,209 shares of Reinsurance Group of America 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 transaction, the executive vice president now directly owns 12,357 shares in the company, valued at approximately $2,705,812.29. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 and other institutional investors have recently modified their holdings of the stock. Earnest Partners LLC lifted its position in Reinsurance Group of America by 1.9% during the second quarter. Earnest Partners LLC now owns 2,628,129 shares of the insurance provider’s stock worth $539,476,000 after acquiring an additional 50,228 shares during the last quarter. Sei Investments Co. grew its holdings in Reinsurance Group of America by 5.9% in the 2nd quarter. Sei Investments Co. now owns 825,719 shares of the insurance provider’s stock valued at $169,497,000 after buying an additional 45,709 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in Reinsurance Group of America by 2.8% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 584,137 shares of the insurance provider’s stock worth $112,668,000 after buying an additional 15,926 shares during the period. Zurich Insurance Group Ltd FI increased its position in Reinsurance Group of America by 681.8% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider’s stock worth $104,244,000 after buying an additional 442,883 shares during the period. Finally, Millennium Management LLC boosted its position in shares of 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 acquiring an additional 133,212 shares during the period. Institutional investors own 95.11% of the company’s stock.

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.