Reinsurance Group of America (NYSE:RGA) Price Target Increased to $185.00 by Analysts at Morgan Stanley

Reinsurance Group of America (NYSE:RGA) had its price objective boosted by Morgan Stanley from $178.00 to $185.00 in a research note issued to investors on Monday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the insurance provider’s stock.

Several other brokerages have also recently weighed in on RGA. Keefe, Bruyette & Woods lifted their price target on Reinsurance Group of America from $200.00 to $220.00 and gave the company an outperform rating in a research report on Wednesday, April 10th. Royal Bank of Canada reiterated an outperform rating and issued a $212.00 price target on shares of Reinsurance Group of America in a research report on Friday, April 12th. Piper Sandler lifted their price target on Reinsurance Group of America from $195.00 to $220.00 and gave the company an overweight rating in a research report on Friday, April 5th. Evercore ISI lifted their price target on Reinsurance Group of America from $200.00 to $215.00 and gave the company an outperform rating in a research report on Thursday, April 11th. Finally, Wells Fargo & Company lifted their price target on Reinsurance Group of America from $193.00 to $210.00 and gave the company an overweight rating in a research report on Thursday, April 11th. Three 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 stock. Based on data from MarketBeat, Reinsurance Group of America presently has a consensus rating of Moderate Buy and a consensus target price of $194.38.

Reinsurance Group of America Stock Performance

NYSE:RGA opened at $180.15 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.17 and a quick ratio of 0.17. The business has a fifty day simple moving average of $181.66 and a two-hundred day simple moving average of $167.23. Reinsurance Group of America has a 1 year low of $133.13 and a 1 year high of $196.25. The company has a market capitalization of $11.85 billion, a P/E ratio of 13.41 and a beta of 0.89.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Friday, February 2nd. The insurance provider reported $4.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.40 by $0.33. Reinsurance Group of America had a return on equity of 16.20% and a net margin of 4.86%. The business had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same period last year, the business posted $2.99 earnings per share. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, analysts expect that Reinsurance Group of America will post 19.46 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.89%. The ex-dividend date was Monday, February 12th. Reinsurance Group of America’s payout ratio is 25.32%.

Insider Buying and Selling

In related news, CFO Todd C. Larson sold 2,966 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was 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 transaction was disclosed in a document filed with the SEC, which is available through this link. In other Reinsurance Group of America news, CFO Todd C. Larson sold 2,966 shares of Reinsurance Group of America stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $182.88, for a total transaction of $542,422.08. Following the completion of the sale, the chief financial officer now owns 49,549 shares of the company’s stock, valued at $9,061,521.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP William L. Hutton sold 1,588 shares of Reinsurance Group of America stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $171.83, for a total value of $272,866.04. Following the sale, the executive vice president now directly owns 13,625 shares of the company’s stock, valued at approximately $2,341,183.75. The disclosure for this sale can be found here. Insiders sold a total of 6,462 shares of company stock worth $1,162,239 over the last ninety days. 1.55% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Reinsurance Group of America

Hedge funds have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System bought a new stake in Reinsurance Group of America during the fourth quarter worth about $2,993,000. Picton Mahoney Asset Management lifted its stake in shares of Reinsurance Group of America by 121.9% in the 3rd quarter. Picton Mahoney Asset Management now owns 122,552 shares of the insurance provider’s stock valued at $17,794,000 after acquiring an additional 67,318 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Reinsurance Group of America by 13.0% in the 4th quarter. Raymond James & Associates now owns 244,771 shares of the insurance provider’s stock valued at $39,599,000 after acquiring an additional 28,193 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Reinsurance Group of America by 93.8% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 22,655 shares of the insurance provider’s stock valued at $3,289,000 after acquiring an additional 10,968 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Reinsurance Group of America by 231.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 142,322 shares of the insurance provider’s stock valued at $23,025,000 after acquiring an additional 99,406 shares during the last quarter. Institutional investors 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.