Reinsurance Group of America (NYSE:RGA) Price Target Increased to $64.00 by Analysts at Jefferies Financial Group

Reinsurance Group of America (NYSE:RGA) had its price objective hoisted by Jefferies Financial Group from $63.00 to $64.00 in a research report report published on Wednesday, Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

Several other equities analysts have also weighed in on RGA. Keefe, Bruyette & Woods upped their price objective on shares of Reinsurance Group of America from $220.00 to $235.00 and gave the company an outperform rating in a report on Tuesday, May 7th. JPMorgan Chase & Co. upped their price objective on shares of Reinsurance Group of America from $195.00 to $208.00 and gave the company a neutral rating in a report on Tuesday, July 2nd. Raymond James upped their price objective on shares of Reinsurance Group of America from $212.00 to $228.00 and gave the company a strong-buy rating in a report on Friday, June 14th. Evercore ISI upped their price objective on shares of Reinsurance Group of America from $225.00 to $241.00 and gave the company an outperform rating in a report on Wednesday, June 26th. Finally, Morgan Stanley upped their price objective on shares of Reinsurance Group of America from $216.00 to $217.00 and gave the company an equal weight rating in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $207.45.

Reinsurance Group of America Price Performance

RGA stock opened at $212.64 on Wednesday. The firm has a market cap of $13.99 billion, a price-to-earnings ratio of 16.52 and a beta of 0.92. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.46. Reinsurance Group of America has a 12-month low of $135.07 and a 12-month high of $213.58. The company’s fifty day simple moving average is $206.83 and its 200 day simple moving average is $187.87.

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, beating the consensus estimate of $4.55 by $1.47. The business 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 in the previous year, the business earned $5.16 earnings per share. On average, analysts expect that Reinsurance Group of America will post 21.11 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th were paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Monday, May 13th. Reinsurance Group of America’s dividend payout ratio is presently 26.42%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Reinsurance Group of America

A number of institutional investors have recently made changes to their positions in the stock. Covestor Ltd increased its holdings in shares of Reinsurance Group of America by 20.3% in the 1st quarter. Covestor Ltd now owns 374 shares of the insurance provider’s stock worth $72,000 after buying an additional 63 shares during the last quarter. Toth Financial Advisory Corp raised its position in Reinsurance Group of America by 41.2% in the 4th quarter. Toth Financial Advisory Corp now owns 240 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 70 shares during the period. GAMMA Investing LLC raised its position in Reinsurance Group of America by 16.5% in the 2nd quarter. GAMMA Investing LLC now owns 559 shares of the insurance provider’s stock worth $115,000 after purchasing an additional 79 shares during the period. Tectonic Advisors LLC raised its position in Reinsurance Group of America by 4.3% in the 4th quarter. Tectonic Advisors LLC now owns 1,979 shares of the insurance provider’s stock worth $320,000 after purchasing an additional 82 shares during the period. Finally, Hilltop National Bank raised its position in Reinsurance Group of America by 13.1% in the 2nd quarter. Hilltop National Bank now owns 706 shares of the insurance provider’s stock worth $145,000 after purchasing an additional 82 shares during the period. 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.