Reinsurance Group of America (NYSE:RGA) Price Target Increased to $220.00 by Analysts at Piper Sandler

Reinsurance Group of America (NYSE:RGA - Free Report) had its price objective hoisted by Piper Sandler from $195.00 to $220.00 in a report released on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the insurance provider's stock.

Several other research analysts have also recently issued reports on RGA. UBS Group increased their price objective on Reinsurance Group of America from $191.00 to $198.00 and gave the stock a buy rating in a research report on Monday, February 5th. Wells Fargo & Company increased their price objective on Reinsurance Group of America from $186.00 to $193.00 and gave the stock an overweight rating in a research report on Tuesday, February 6th. JPMorgan Chase & Co. increased their price objective on Reinsurance Group of America from $170.00 to $189.00 and gave the stock a neutral rating in a research report on Tuesday. Royal Bank of Canada increased their price objective on Reinsurance Group of America from $170.00 to $185.00 and gave the stock an outperform rating in a research report on Monday, February 5th. Finally, Keefe, Bruyette & Woods restated an outperform rating and issued a $200.00 price target on shares of Reinsurance Group of America in a research report on Tuesday, March 26th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $184.00.

Reinsurance Group of America Stock Performance

Shares of RGA stock traded up $2.62 during trading hours on Friday, hitting $193.97. The stock had a trading volume of 283,675 shares, compared to its average volume of 343,785. The firm has a market capitalization of $12.76 billion, a PE ratio of 14.44 and a beta of 0.89. Reinsurance Group of America has a twelve month low of $132.72 and a twelve month high of $195.88. The stock's 50 day moving average is $178.71 and its 200 day moving average is $164.60. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.17 and a quick ratio of 0.17.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its quarterly earnings data on Friday, February 2nd. The insurance provider reported $4.73 earnings per share for the quarter, beating the consensus estimate of $4.40 by $0.33. Reinsurance Group of America had a return on equity of 16.20% and a net margin of 4.86%. The business had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same period in the prior year, the company earned $2.99 earnings per share. The company's revenue was up 14.9% compared to the same quarter last year. As a group, research analysts forecast that Reinsurance Group of America will post 19.26 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 13th were paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.75%. The ex-dividend date was Monday, February 12th. Reinsurance Group of America's dividend payout ratio is currently 25.32%.

Insider Activity

In other news, EVP William L. Hutton sold 1,908 shares of Reinsurance Group of America stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $181.84, for a total value of $346,950.72. Following the transaction, the executive vice president now directly owns 13,363 shares of the company's stock, valued at approximately $2,429,927.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP William L. Hutton sold 1,588 shares of the firm's stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $171.83, for a total transaction of $272,866.04. Following the sale, the executive vice president now directly owns 13,625 shares in the company, valued at approximately $2,341,183.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP William L. Hutton sold 1,908 shares of the firm's stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $181.84, for a total value of $346,950.72. Following the sale, the executive vice president now owns 13,363 shares in the company, valued at $2,429,927.92. The disclosure for this sale can be found here. Insiders have sold 6,462 shares of company stock valued at $1,162,239 in the last three months. Corporate insiders own 1.31% of the company's stock.

Institutional Investors Weigh In On Reinsurance Group of America

Several hedge funds have recently modified their holdings of RGA. Moneta Group Investment Advisors LLC increased its holdings in Reinsurance Group of America by 129,207.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 12,117,433 shares of the insurance provider's stock worth $1,721,766,000 after purchasing an additional 12,108,062 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Reinsurance Group of America by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 7,350,810 shares of the insurance provider's stock valued at $1,067,264,000 after acquiring an additional 110,877 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Reinsurance Group of America by 7.3% in the 3rd quarter. American Century Companies Inc. now owns 2,605,471 shares of the insurance provider's stock valued at $378,288,000 after acquiring an additional 177,299 shares during the last quarter. State Street Corp increased its holdings in shares of Reinsurance Group of America by 4.7% in the 1st quarter. State Street Corp now owns 2,411,086 shares of the insurance provider's stock valued at $263,917,000 after acquiring an additional 108,922 shares during the last quarter. Finally, Earnest Partners LLC increased its holdings in shares of Reinsurance Group of America by 2.7% in the 3rd quarter. Earnest Partners LLC now owns 2,371,076 shares of the insurance provider's stock valued at $344,257,000 after acquiring an additional 62,045 shares during the last quarter. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

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.