Reinsurance Group of America (NYSE:RGA) Price Target Raised to $264.00

Reinsurance Group of America (NYSE:RGA) had its target price lifted by Wells Fargo & Company from $263.00 to $264.00 in a research note released on Tuesday,Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

Several other analysts have also recently commented on RGA. Barclays decreased their price target on shares of Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and set a $245.00 target price on shares of Reinsurance Group of America in a research note on Monday, February 10th. Morgan Stanley lowered their price target on shares of Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. Piper Sandler cut their price objective on 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. Finally, JPMorgan Chase & Co. boosted their target price on Reinsurance Group of America from $227.00 to $232.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $229.62.

Reinsurance Group of America Price Performance

RGA opened at $200.37 on Tuesday. The firm has a market capitalization of $13.23 billion, a P/E ratio of 18.66 and a beta of 0.93. The stock has a fifty day moving average of $214.36 and a 200-day moving average of $216.12. The company has a quick ratio of 0.17, a current ratio of 0.15 and a debt-to-equity ratio of 0.46. Reinsurance Group of America has a 12-month low of $174.45 and a 12-month high of $233.81.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings data on Thursday, February 6th. The insurance provider reported $4.99 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts forecast that Reinsurance Group of America will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $3.56 annualized dividend and a dividend yield of 1.78%. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 33.15%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Reinsurance Group of America by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 7,213,971 shares of the insurance provider’s stock worth $1,541,121,000 after purchasing an additional 51,733 shares during the period. FMR LLC raised its position in shares of Reinsurance Group of America by 11.1% in the fourth quarter. FMR LLC now owns 5,640,788 shares of the insurance provider’s stock valued at $1,205,042,000 after purchasing an additional 564,693 shares during the period. WCM Investment Management LLC lifted its stake in shares of Reinsurance Group of America by 1.4% in the fourth quarter. WCM Investment Management LLC now owns 2,480,750 shares of the insurance provider’s stock worth $526,911,000 after buying an additional 33,082 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Reinsurance Group of America by 389.4% during the 4th quarter. Alliancebernstein L.P. now owns 1,123,022 shares of the insurance provider’s stock worth $239,911,000 after buying an additional 893,537 shares during the period. Finally, Geode Capital Management LLC grew its stake in Reinsurance Group of America by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 1,113,872 shares of the insurance provider’s stock valued at $238,031,000 after buying an additional 4,106 shares during the last quarter. 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.