Reinsurance Group of America (NYSE:RGA - Free Report) had its price objective boosted by Keefe, Bruyette & Woods from $220.00 to $235.00 in a report released on Tuesday, Benzinga reports. They currently have an outperform rating on the insurance provider's stock.
Several other analysts have also weighed in on RGA. Piper Sandler raised their price objective on shares of Reinsurance Group of America from $195.00 to $220.00 and gave the stock an overweight rating in a report on Friday, April 5th. Wells Fargo & Company increased their target price on Reinsurance Group of America from $193.00 to $210.00 and gave the stock an overweight rating in a report on Thursday, April 11th. Royal Bank of Canada reaffirmed an outperform rating and issued a $212.00 price target on shares of Reinsurance Group of America in a report on Friday, April 12th. Morgan Stanley increased their price objective on shares of Reinsurance Group of America from $178.00 to $185.00 and gave the stock an equal weight rating in a report on Monday, April 15th. Finally, Evercore ISI boosted their target price on shares of Reinsurance Group of America from $200.00 to $215.00 and gave the stock an outperform rating in a research note on Thursday, April 11th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $196.00.
View Our Latest Stock Report on Reinsurance Group of America
Reinsurance Group of America Stock Performance
Shares of RGA traded up $2.40 during mid-day trading on Tuesday, hitting $203.32. The company's stock had a trading volume of 737,493 shares, compared to its average volume of 363,885. Reinsurance Group of America has a one year low of $135.07 and a one year high of $205.59. The stock's 50-day moving average is $187.73 and its two-hundred day moving average is $171.82. The firm has a market capitalization of $13.38 billion, a PE ratio of 15.80 and a beta of 0.88. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.17 and a current ratio of 0.19.
Reinsurance Group of America (NYSE:RGA - Get Free Report) last released its earnings results on Friday, May 3rd. The insurance provider reported $6.02 earnings per share for the quarter, beating the consensus estimate of $4.55 by $1.47. Reinsurance Group of America had a net margin of 4.16% and a return on equity of 15.94%. The business had revenue of $6.34 billion during the quarter, compared to analysts' expectations of $4.54 billion. During the same quarter last year, the company earned $5.16 earnings per share. As a group, sell-side analysts anticipate that Reinsurance Group of America will post 19.41 EPS for the current year.
Reinsurance Group of America Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th will be given a dividend of $0.85 per share. The ex-dividend date is Monday, May 13th. This represents a $3.40 annualized dividend and a yield of 1.67%. Reinsurance Group of America's dividend payout ratio (DPR) is presently 26.42%.
Insider Buying and Selling
In other news, CFO Todd C. Larson sold 2,966 shares of Reinsurance Group of America stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $182.88, for a total value of $542,422.08. Following the completion of the transaction, the chief financial officer now owns 49,549 shares of the company's stock, valued at approximately $9,061,521.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Reinsurance Group of America news, EVP William L. Hutton sold 1,588 shares of Reinsurance Group of America stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $171.83, for a total transaction of $272,866.04. Following the completion of the transaction, the executive vice president now directly owns 13,625 shares of the company's stock, valued at $2,341,183.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Todd C. Larson sold 2,966 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $182.88, for a total transaction of $542,422.08. Following the completion of the transaction, the chief financial officer now directly owns 49,549 shares in the company, valued at $9,061,521.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,462 shares of company stock worth $1,162,239. Corporate insiders own 1.37% of the company's stock.
Hedge Funds Weigh In On Reinsurance Group of America
Institutional investors and hedge funds have recently modified their holdings of the business. Lindbrook Capital LLC raised its holdings in Reinsurance Group of America by 129.9% in the 4th quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider's stock valued at $25,000 after acquiring an additional 87 shares in the last quarter. Pineridge Advisors LLC acquired a new position in Reinsurance Group of America in the fourth quarter valued at about $26,000. Rise Advisors LLC bought a new stake in Reinsurance Group of America during the first quarter worth about $29,000. VisionPoint Advisory Group LLC grew its stake in Reinsurance Group of America by 116.3% during the third quarter. VisionPoint Advisory Group LLC now owns 212 shares of the insurance provider's stock worth $31,000 after buying an additional 114 shares in the last quarter. Finally, Toth Financial Advisory Corp raised its position in shares of Reinsurance Group of America by 41.2% in the 4th quarter. Toth Financial Advisory Corp now owns 240 shares of the insurance provider's stock valued at $39,000 after buying an additional 70 shares in the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.
About Reinsurance Group of America
(
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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.
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