Reinsurance Group of America (NYSE:RGA) Upgraded by JPMorgan Chase & Co. to “Overweight” Rating

JPMorgan Chase & Co. upgraded shares of Reinsurance Group of America (NYSE:RGA) from a neutral rating to an overweight rating in a research report released on Wednesday, Marketbeat.com reports. The firm currently has $237.00 price objective on the insurance provider’s stock, up from their prior price objective of $232.00.

A number of other equities research analysts have also weighed in on the company. Wells Fargo & Company boosted their price objective on Reinsurance Group of America from $263.00 to $264.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th. Barclays reduced their price target on Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Morgan Stanley dropped their price objective on shares of Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating for the company in a report on Friday, February 14th. Piper Sandler reduced their target price on shares of Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $245.00 price target on shares of Reinsurance Group of America in a research note on Monday, February 10th. Three investment 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $230.38.

Reinsurance Group of America Stock Up 0.8 %

Shares of NYSE RGA opened at $199.89 on Wednesday. The company has a current ratio of 0.15, a quick ratio of 0.17 and a debt-to-equity ratio of 0.46. The company has a market cap of $13.20 billion, a price-to-earnings ratio of 18.61 and a beta of 0.91. Reinsurance Group of America has a 12 month low of $178.84 and a 12 month high of $233.81. The stock has a 50-day moving average price of $203.41 and a two-hundred day moving average price of $213.23.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Thursday, February 6th. The insurance provider reported $4.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. As a group, 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were given a dividend of $0.89 per share. The ex-dividend date was Tuesday, February 18th. This represents a $3.56 annualized dividend and a dividend yield of 1.78%. Reinsurance Group of America’s payout ratio is 33.15%.

Hedge Funds Weigh In On Reinsurance Group of America

Several institutional investors have recently added to or reduced their stakes in RGA. Colonial Trust Co SC boosted its stake in Reinsurance Group of America by 72.2% during the fourth quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 57 shares in the last quarter. Spire Wealth Management raised its holdings in shares of Reinsurance Group of America by 39.0% during the fourth quarter. Spire Wealth Management now owns 203 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 57 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Reinsurance Group of America during the 4th quarter worth about $44,000. Versant Capital Management Inc boosted its position in shares of Reinsurance Group of America by 38.1% during the 4th quarter. Versant Capital Management Inc now owns 290 shares of the insurance provider’s stock worth $62,000 after purchasing an additional 80 shares in the last quarter. Finally, Private Trust Co. NA grew its stake in shares of Reinsurance Group of America by 99.4% in the 4th quarter. Private Trust Co. NA now owns 311 shares of the insurance provider’s stock valued at $66,000 after buying an additional 155 shares during the period. 95.11% of the stock is owned by institutional investors and hedge funds.

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.