Reinsurance Group of America (NYSE:RGA) Price Target Raised to $249.00

Reinsurance Group of America (NYSE:RGA - Free Report) had its price objective hoisted by Wells Fargo & Company from $248.00 to $249.00 in a research note released on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the insurance provider's stock.

Other research analysts have also recently issued research reports about the stock. Morgan Stanley set a $209.00 target price on shares of Reinsurance Group of America and gave the stock an "equal weight" rating in a report on Monday, May 19th. Keefe, Bruyette & Woods raised their target price on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Evercore ISI reduced their target price on shares of Reinsurance Group of America from $280.00 to $270.00 and set an "outperform" rating for the company in a report on Thursday, March 13th. UBS Group reissued a "neutral" rating and set a $216.00 target price (down previously from $250.00) on shares of Reinsurance Group of America in a report on Wednesday, April 2nd. Finally, Raymond James Financial restated a "market perform" rating on shares of Reinsurance Group of America in a research report on Friday, May 23rd. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $244.92.

Reinsurance Group of America Stock Performance

Shares of NYSE RGA traded down $2.46 during midday trading on Thursday, reaching $194.19. The company had a trading volume of 412,683 shares, compared to its average volume of 413,953. The business's 50-day simple moving average is $200.46 and its 200 day simple moving average is $201.05. The stock has a market cap of $12.83 billion, a P/E ratio of 16.39 and a beta of 0.62. Reinsurance Group of America has a 1 year low of $159.25 and a 1 year high of $233.81. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.50.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The insurance provider reported $5.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.33 by $0.33. The business had revenue of $5.26 billion during the quarter, compared to analysts' expectations of $5.74 billion. Reinsurance Group of America had a net margin of 3.77% and a return on equity of 13.69%. The business's quarterly revenue was down 17.0% on a year-over-year basis. During the same quarter last year, the company posted $6.02 earnings per share. On average, analysts forecast that Reinsurance Group of America will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were given a $0.89 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $3.56 annualized dividend and a dividend yield of 1.83%. Reinsurance Group of America's dividend payout ratio (DPR) is 30.04%.

Institutional Trading of Reinsurance Group of America

Several institutional investors have recently modified their holdings of the stock. Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Reinsurance Group of America by 21.6% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 24,200 shares of the insurance provider's stock valued at $4,795,000 after purchasing an additional 4,300 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Reinsurance Group of America by 54.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 13,558 shares of the insurance provider's stock valued at $2,682,000 after purchasing an additional 4,775 shares during the period. Wedmont Private Capital grew its position in shares of Reinsurance Group of America by 4.3% in the second quarter. Wedmont Private Capital now owns 2,218 shares of the insurance provider's stock valued at $433,000 after purchasing an additional 92 shares during the period. Pallas Capital Advisors LLC grew its position in shares of Reinsurance Group of America by 50.5% in the second quarter. Pallas Capital Advisors LLC now owns 3,631 shares of the insurance provider's stock valued at $720,000 after purchasing an additional 1,218 shares during the period. Finally, Martin Capital Partners LLC grew its position in shares of Reinsurance Group of America by 225.4% in the second quarter. Martin Capital Partners LLC now owns 26,338 shares of the insurance provider's stock valued at $5,224,000 after purchasing an additional 18,243 shares during the period. Institutional investors and hedge funds 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.