Reinsurance Group of America (NYSE:RGA) Price Target Raised to $261.00

Reinsurance Group of America (NYSE:RGA) had its price objective upped by Wells Fargo & Company from $238.00 to $261.00 in a research note published on Wednesday,Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

Other analysts have also recently issued reports about the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Reinsurance Group of America in a research note on Monday, December 29th. Piper Sandler restated an “overweight” rating and set a $263.00 price target on shares of Reinsurance Group of America in a report on Friday, February 6th. Barclays set a $245.00 price objective on Reinsurance Group of America and gave the stock an “overweight” rating in a research report on Friday, February 6th. TD Cowen reaffirmed a “hold” rating on shares of Reinsurance Group of America in a report on Wednesday, January 28th. Finally, Morgan Stanley set a $208.00 price target on Reinsurance Group of America in a report on Monday, December 15th. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $245.88.

Reinsurance Group of America Price Performance

NYSE RGA opened at $215.72 on Wednesday. Reinsurance Group of America has a fifty-two week low of $159.25 and a fifty-two week high of $229.21. The stock’s 50-day moving average is $207.39 and its two-hundred day moving average is $197.02. The firm has a market cap of $14.14 billion, a P/E ratio of 12.15 and a beta of 0.53. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.14 and a quick ratio of 0.13.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, February 5th. The insurance provider reported $7.75 EPS for the quarter, beating analysts’ consensus estimates of $5.86 by $1.89. Reinsurance Group of America had a return on equity of 12.99% and a net margin of 4.99%.The business had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.25 billion. During the same quarter in the prior year, the firm posted $4.99 EPS. The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. On average, analysts anticipate that Reinsurance Group of America will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Investors of record on Tuesday, February 17th will be paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Tuesday, February 17th. Reinsurance Group of America’s dividend payout ratio is presently 20.96%.

Hedge Funds Weigh In On Reinsurance Group of America

A number of hedge funds have recently made changes to their positions in RGA. WCM Investment Management LLC increased its stake in Reinsurance Group of America by 3.6% in the third quarter. WCM Investment Management LLC now owns 2,734,458 shares of the insurance provider’s stock valued at $519,356,000 after acquiring an additional 94,479 shares during the period. American Century Companies Inc. grew its stake in shares of Reinsurance Group of America by 15.9% in the 3rd quarter. American Century Companies Inc. now owns 2,369,057 shares of the insurance provider’s stock valued at $455,167,000 after purchasing an additional 324,239 shares during the period. State Street Corp raised its holdings in shares of Reinsurance Group of America by 2.8% in the 3rd quarter. State Street Corp now owns 2,346,447 shares of the insurance provider’s stock worth $450,823,000 after buying an additional 64,296 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Reinsurance Group of America by 148.4% during the 4th quarter. AQR Capital Management LLC now owns 1,652,102 shares of the insurance provider’s stock worth $336,137,000 after buying an additional 987,014 shares during the period. Finally, Geode Capital Management LLC grew its position in Reinsurance Group of America by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 1,341,364 shares of the insurance provider’s stock valued at $272,966,000 after acquiring an additional 12,682 shares during the period. Institutional investors and hedge funds own 95.11% of the company’s stock.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.