Jefferies Financial Group Raises Reinsurance Group of America (NYSE:RGA) Price Target to $247.00

Reinsurance Group of America (NYSE:RGA) had its price objective increased by Jefferies Financial Group from $240.00 to $247.00 in a research report released on Friday morning, Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

A number of other research firms have also issued reports on RGA. UBS Group lifted their target price on Reinsurance Group of America from $223.00 to $240.00 and gave the stock a buy rating in a report on Thursday, May 30th. Royal Bank of Canada reaffirmed an outperform rating and set a $225.00 target price on shares of Reinsurance Group of America in a report on Friday, June 14th. Keefe, Bruyette & Woods lifted their target price on Reinsurance Group of America from $220.00 to $235.00 and gave the stock an outperform rating in a report on Tuesday, May 7th. Raymond James lifted their price target on Reinsurance Group of America from $212.00 to $228.00 and gave the stock a strong-buy rating in a research note on Friday, June 14th. Finally, Evercore ISI lifted their price target on Reinsurance Group of America from $225.00 to $241.00 and gave the stock an outperform rating in a research note on Wednesday, June 26th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $220.00.

Reinsurance Group of America Price Performance

Shares of NYSE RGA opened at $205.27 on Friday. Reinsurance Group of America has a fifty-two week low of $135.07 and a fifty-two week high of $213.21. The firm’s 50-day simple moving average is $203.58 and its 200 day simple moving average is $185.03. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.46. The stock has a market cap of $13.50 billion, a P/E ratio of 15.95 and a beta of 0.92.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Friday, May 3rd. The insurance provider reported $6.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.55 by $1.47. The firm had revenue of $6.34 billion for the quarter, compared to analyst estimates of $4.54 billion. Reinsurance Group of America had a return on equity of 15.94% and a net margin of 4.16%. During the same period in the previous year, the company earned $5.16 earnings per share. Equities analysts expect that Reinsurance Group of America will post 20.94 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders 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 yield of 1.66%. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 26.42%.

Insider Buying and Selling at Reinsurance Group of America

In other Reinsurance Group of America news, EVP John W. Hayden sold 1,767 shares of Reinsurance Group of America stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $206.85, for a total transaction of $365,503.95. Following the transaction, the executive vice president now owns 16,490 shares of the company’s stock, valued at approximately $3,410,956.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.37% of the company’s stock.

Institutional Investors Weigh In On Reinsurance Group of America

Institutional investors have recently made changes to their positions in the company. Louisiana State Employees Retirement System acquired a new stake in shares of Reinsurance Group of America during the 4th quarter valued at about $2,993,000. International Assets Investment Management LLC lifted its holdings in Reinsurance Group of America by 16,078.1% in the 4th quarter. International Assets Investment Management LLC now owns 22,164 shares of the insurance provider’s stock worth $3,586,000 after purchasing an additional 22,027 shares during the last quarter. Raymond James & Associates lifted its holdings in 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 worth $39,599,000 after purchasing an additional 28,193 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in 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 worth $3,289,000 after purchasing an additional 10,968 shares during the last quarter. Finally, Junto Capital Management LP acquired a new stake in Reinsurance Group of America in the 4th quarter worth approximately $92,083,000. 95.11% of the stock is currently 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.