Reinsurance Group of America (NYSE:RGA) Price Target Raised to $245.00

Reinsurance Group of America (NYSE:RGA) had its target price boosted by Royal Bank of Canada from $235.00 to $245.00 in a report issued on Monday, Benzinga reports. They currently have an outperform rating on the insurance provider’s stock.

Several other equities research analysts also recently issued reports on RGA. Barclays dropped their price objective on Reinsurance Group of America from $255.00 to $250.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. Jefferies Financial Group upped their price target on shares of Reinsurance Group of America from $63.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. TD Cowen began coverage on shares of Reinsurance Group of America in a report on Wednesday, October 9th. They set a “hold” rating and a $235.00 price objective for the company. Wells Fargo & Company upped their target price on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, StockNews.com upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $227.38.

Reinsurance Group of America Trading Up 6.9 %

NYSE RGA opened at $227.70 on Monday. The stock has a market cap of $15.00 billion, a P/E ratio of 20.91 and a beta of 0.92. The company’s fifty day simple moving average is $215.96 and its 200-day simple moving average is $209.94. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.45. Reinsurance Group of America has a 52 week low of $153.79 and a 52 week high of $227.87.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, October 31st. The insurance provider reported $6.13 EPS for the quarter, topping analysts’ consensus estimates of $5.31 by $0.82. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%. The firm had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same quarter in the previous year, the business posted $5.57 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. Equities research analysts predict that Reinsurance Group of America will post 21.74 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.56 annualized dividend and a dividend yield of 1.56%. Reinsurance Group of America’s dividend payout ratio is presently 32.69%.

Insider Buying and Selling

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total transaction of $264,734.73. Following the completion of the transaction, the executive vice president now owns 12,357 shares in the company, valued at approximately $2,705,812.29. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.37% of the company’s stock.

Hedge Funds Weigh In On Reinsurance Group of America

A number of institutional investors and hedge funds have recently bought and sold shares of RGA. Armstrong Advisory Group Inc. acquired a new stake in shares of Reinsurance Group of America in the 3rd quarter worth approximately $25,000. New Covenant Trust Company N.A. bought a new position in Reinsurance Group of America during the 1st quarter valued at $28,000. International Assets Investment Management LLC acquired a new position in shares of Reinsurance Group of America during the 2nd quarter valued at $28,000. Family Firm Inc. bought a new stake in shares of Reinsurance Group of America in the 2nd quarter worth $29,000. Finally, LRI Investments LLC bought a new position in Reinsurance Group of America during the first quarter valued at about $33,000. 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.