Reinsurance Group of America (NYSE:RGA) Price Target Raised to $263.00

Reinsurance Group of America (NYSE:RGA) had its price target hoisted by Wells Fargo & Company from $244.00 to $263.00 in a research report report published on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the insurance provider’s stock.

RGA has been the subject of several other research reports. Barclays dropped their price objective on shares of Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Piper Sandler decreased their price target on shares of Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Morgan Stanley reduced their target price on shares of Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating for the company in a research note on Friday, February 14th. Royal Bank of Canada restated an “outperform” rating and set a $245.00 price objective on shares of Reinsurance Group of America in a research note on Monday, February 10th. Finally, JPMorgan Chase & Co. upped their target price on shares of Reinsurance Group of America from $227.00 to $232.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Reinsurance Group of America currently has an average rating of “Moderate Buy” and an average price target of $229.54.

Reinsurance Group of America Trading Down 3.4 %

Reinsurance Group of America stock opened at $189.40 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.17 and a current ratio of 0.15. The business’s 50-day simple moving average is $215.37 and its 200-day simple moving average is $216.15. The firm has a market capitalization of $12.47 billion, a PE ratio of 17.63 and a beta of 0.93. Reinsurance Group of America has a 52 week low of $169.08 and a 52 week high of $233.81.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Thursday, February 6th. The insurance provider reported $4.99 earnings per share for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.23). Reinsurance Group of America had a return on equity of 14.55% and a net margin of 3.24%. Equities research analysts forecast that Reinsurance Group of America will post 22.88 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $0.89 per share. The ex-dividend date is Tuesday, February 18th. This represents a $3.56 dividend on an annualized basis and a yield of 1.88%. Reinsurance Group of America’s dividend payout ratio is currently 33.15%.

Hedge Funds Weigh In On Reinsurance Group of America

A number of hedge funds have recently modified their holdings of RGA. Eagle Asset Management Inc. lifted its position in Reinsurance Group of America by 15.7% during the third quarter. Eagle Asset Management Inc. now owns 112,901 shares of the insurance provider’s stock valued at $25,297,000 after purchasing an additional 15,289 shares during the last quarter. Martin Capital Partners LLC purchased a new position in Reinsurance Group of America in the 4th quarter worth about $1,788,000. Nordea Investment Management AB increased its stake in Reinsurance Group of America by 4.8% in the 4th quarter. Nordea Investment Management AB now owns 89,837 shares of the insurance provider’s stock worth $19,232,000 after buying an additional 4,119 shares during the period. Pacer Advisors Inc. increased its position in Reinsurance Group of America by 23.8% during the 4th quarter. Pacer Advisors Inc. now owns 14,402 shares of the insurance provider’s stock valued at $3,077,000 after purchasing an additional 2,768 shares during the period. Finally, Franklin Resources Inc. increased its position in Reinsurance Group of America by 7.9% during the 3rd quarter. Franklin Resources Inc. now owns 77,516 shares of the insurance provider’s stock valued at $16,862,000 after purchasing an additional 5,699 shares during the period. 95.11% of the stock is currently 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.