Reinsurance Group of America (NYSE:RGA) Price Target Raised to $300.00

Reinsurance Group of America (NYSE:RGA) had its target price upped by Piper Sandler from $274.00 to $300.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the insurance provider’s stock.

Other research analysts have also recently issued reports about the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Reinsurance Group of America in a report on Wednesday, November 4th. TD Cowen increased their price target on shares of Reinsurance Group of America from $235.00 to $250.00 and gave the company a “hold” rating in a report on Wednesday, October 21st. Wells Fargo & Company raised their price target on shares of Reinsurance Group of America from $291.00 to $292.00 and gave the company an “overweight” rating in a research report on Monday, October 12th. Barclays set a $292.00 price objective on shares of Reinsurance Group of America in a report on Thursday, October 8th. Finally, UBS Group raised Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $278.62.

Reinsurance Group of America Price Performance

Shares of NYSE:RGA opened at $272.93 on Monday. The business has a fifty day moving average price of $256.65 and a 200-day moving average price of $227.47. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.16 and a quick ratio of 0.14. The company has a market capitalization of $17.75 billion, a PE ratio of 8.54 and a beta of 0.43. Reinsurance Group of America has a 1-year low of $182.73 and a 1-year high of $275.70.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Thursday, November 5th. The insurance provider reported $8.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.97 by $1.52. Reinsurance Group of America had a net margin of 6.26% and a return on equity of 16.18%. The company had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $6.69 billion. During the same quarter in the previous year, the business posted $6.37 EPS. As a group, equities analysts expect that Reinsurance Group of America will post 30.05 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 17th will be paid a dividend of $0.98 per share. The ex-dividend date is Tuesday, November 17th. This represents a $3.92 annualized dividend and a yield of 1.4%. Reinsurance Group of America’s dividend payout ratio is currently 15.15%.

Institutional Trading of Reinsurance Group of America

Institutional investors have recently made changes to their positions in the stock. SEB Asset Management AB purchased a new position in shares of Reinsurance Group of America during the first quarter valued at approximately $81,533,000. Bank of New York Mellon Corp bought a new position in Reinsurance Group of America during the second quarter valued at approximately $82,836,000. Lazard Asset Management LLC boosted its holdings in Reinsurance Group of America by 2,626.6% in the first quarter. Lazard Asset Management LLC now owns 195,794 shares of the insurance provider’s stock worth $39,973,000 after purchasing an additional 188,613 shares during the last quarter. Wedge Capital Management L L P NC grew its position in Reinsurance Group of America by 965.2% in the 2nd quarter. Wedge Capital Management L L P NC now owns 179,440 shares of the insurance provider’s stock worth $38,158,000 after purchasing an additional 162,594 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in Reinsurance Group of America in the 3rd quarter worth approximately $30,927,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated (RGA) is a global life and health reinsurer. It works with insurance companies to help them manage risks and support the development and distribution of insurance products. Its services include life and health reinsurance, as well as solutions involving longevity risk and asset-intensive reinsurance. RGA also provides underwriting expertise, data and analytics, and product and risk-management support to its clients. Founded in 1973, RGA serves clients across North America, Latin America, Europe, the Middle East and Africa, and Asia Pacific.