Reinsurance Group of America (NYSE:RGA) Given New $252.00 Price Target at Barclays

Reinsurance Group of America (NYSE:RGA) had its price target lowered by Barclays from $255.00 to $252.00 in a research report released on Monday,Benzinga reports. The firm currently has an overweight rating on the insurance provider’s stock.

A number of other research analysts have also weighed in on the stock. StockNews.com raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. TD Cowen initiated coverage on shares of Reinsurance Group of America in a research report on Wednesday, October 9th. They set a “hold” rating and a $235.00 target price for the company. Keefe, Bruyette & Woods upgraded Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, October 3rd. Royal Bank of Canada raised their price target on Reinsurance Group of America from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Finally, Piper Sandler boosted their price target on Reinsurance Group of America from $237.00 to $242.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $228.31.

Reinsurance Group of America Price Performance

Shares of RGA opened at $221.82 on Monday. The firm has a market cap of $14.61 billion, a PE ratio of 20.37 and a beta of 0.94. Reinsurance Group of America has a 1-year low of $163.81 and a 1-year high of $233.81. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.45. The firm has a fifty day simple moving average of $219.44 and a two-hundred day simple moving average of $215.16.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share for the quarter, beating analysts’ consensus estimates of $5.31 by $0.82. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.29 billion. During the same quarter in the prior year, the company earned $5.57 earnings per share. Reinsurance Group of America’s revenue was up 9.7% on a year-over-year basis. On average, equities analysts anticipate that Reinsurance Group of America will post 21.67 EPS for the current year.

Reinsurance Group of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were paid a $0.89 dividend. The ex-dividend date was Friday, November 8th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.60%. Reinsurance Group of America’s payout ratio is 32.69%.

Hedge Funds Weigh In On Reinsurance Group of America

Institutional investors have recently made changes to their positions in the company. Armstrong Advisory Group Inc. purchased a new stake in shares of Reinsurance Group of America during the 3rd quarter worth about $25,000. Wolff Wiese Magana LLC purchased a new position in Reinsurance Group of America in the 3rd quarter valued at about $34,000. Private Trust Co. NA increased its position in shares of Reinsurance Group of America by 333.3% during the third quarter. Private Trust Co. NA now owns 156 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 120 shares in the last quarter. Strengthening Families & Communities LLC acquired a new stake in shares of Reinsurance Group of America in the third quarter valued at about $36,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Reinsurance Group of America in the third quarter worth about $37,000. 95.11% of the stock is 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.