Raymond James Raises Reinsurance Group of America (NYSE:RGA) Price Target to $228.00

Reinsurance Group of America (NYSE:RGA) had its price target upped by Raymond James from $212.00 to $228.00 in a report released on Friday morning, Benzinga reports. The brokerage currently has a strong-buy rating on the insurance provider’s stock.

Several other equities research analysts have also commented on RGA. Wells Fargo & Company upped their price target on Reinsurance Group of America from $210.00 to $227.00 and gave the stock an overweight rating in a research note on Friday, May 10th. Evercore ISI raised their price target on shares of Reinsurance Group of America from $200.00 to $215.00 and gave the company an outperform rating in a report on Thursday, April 11th. UBS Group lifted their price target on shares of Reinsurance Group of America from $223.00 to $240.00 and gave the company a buy rating in a research report on Thursday, May 30th. JPMorgan Chase & Co. increased their price objective on shares of Reinsurance Group of America from $189.00 to $195.00 and gave the stock a neutral rating in a research report on Friday, May 3rd. Finally, Piper Sandler lifted their target price on shares of Reinsurance Group of America from $195.00 to $220.00 and gave the company an overweight rating in a report on Friday, April 5th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $211.00.

Reinsurance Group of America Price Performance

RGA opened at $203.85 on Friday. Reinsurance Group of America has a 1 year low of $135.07 and a 1 year high of $213.21. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.19 and a current ratio of 0.19. The company’s 50 day simple moving average is $199.59 and its 200 day simple moving average is $182.36. The stock has a market capitalization of $13.41 billion, a PE ratio of 15.84 and a beta of 0.92.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Friday, May 3rd. The insurance provider reported $6.02 earnings per share for the quarter, beating analysts’ consensus estimates of $4.55 by $1.47. The company had revenue of $6.34 billion for the quarter, compared to analyst estimates of $4.54 billion. Reinsurance Group of America had a net margin of 4.16% and a return on equity of 15.94%. During the same quarter last year, the business earned $5.16 EPS. As a group, sell-side analysts expect that Reinsurance Group of America will post 20.66 EPS for the current year.

Reinsurance Group of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th were paid a dividend of $0.85 per share. The ex-dividend date was Monday, May 13th. This represents a $3.40 annualized dividend and a dividend yield of 1.67%. Reinsurance Group of America’s dividend payout ratio is presently 26.42%.

Insider Buying and Selling

In other Reinsurance Group of America news, EVP John W. Hayden sold 1,767 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $206.85, for a total transaction of $365,503.95. Following the completion of the sale, the executive vice president now owns 16,490 shares in the company, valued at approximately $3,410,956.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.37% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RGA. New Covenant Trust Company N.A. bought a new position in shares of Reinsurance Group of America during the first quarter worth about $28,000. Rise Advisors LLC acquired a new position in shares of Reinsurance Group of America in the 1st quarter worth approximately $29,000. Lindbrook Capital LLC grew its position in shares of Reinsurance Group of America by 129.9% in the 4th quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 87 shares in the last quarter. LRI Investments LLC bought a new stake in shares of Reinsurance Group of America in the 1st quarter valued at approximately $33,000. Finally, Pineridge Advisors LLC acquired a new stake in shares of Reinsurance Group of America during the 4th quarter valued at approximately $26,000. 95.11% of the stock is currently owned by institutional investors.

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.