Reinsurance Group of America, Incorporated (NYSE:RGA) Stock Has Average Target Price of $267.56

Reinsurance Group of America, Incorporated (NYSE:RGA) has been assigned an average rating of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $267.11.

Several research firms have weighed in on RGA. UBS Group upgraded shares of Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. Morgan Stanley raised Reinsurance Group of America from an “equal weight” rating to an “overweight” rating and set a $295.00 price objective on the stock in a research note on Monday, September 28th. Barclays dropped their price target on Reinsurance Group of America from $290.00 to $286.00 and set an “overweight” rating on the stock in a research report on Wednesday. Weiss Ratings reissued a “buy (b)” rating on shares of Reinsurance Group of America in a research report on Friday, August 7th. Finally, TD Cowen raised their price objective on shares of Reinsurance Group of America from $212.00 to $235.00 and gave the stock a “hold” rating in a report on Wednesday, July 22nd.

Reinsurance Group of America Price Performance

Reinsurance Group of America stock opened at $251.36 on Thursday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $16.41 billion, a P/E ratio of 11.04 and a beta of 0.45. The business has a 50-day moving average of $246.22 and a 200-day moving average of $225.12. Reinsurance Group of America has a 1 year low of $178.21 and a 1 year high of $257.81.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Thursday, August 6th. The insurance provider reported $8.89 earnings per share for the quarter, beating analysts’ consensus estimates of $6.50 by $2.39. The business had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.67 billion. Reinsurance Group of America had a net margin of 5.81% and a return on equity of 14.78%. Reinsurance Group of America’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same period last year, the company posted $4.72 EPS. On average, equities analysts anticipate that Reinsurance Group of America will post 29.71 EPS for the current year.

Reinsurance Group of America Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th were issued a dividend of $0.98 per share. The ex-dividend date was Tuesday, August 18th. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.93. This represents a $3.92 annualized dividend and a yield of 1.6%. Reinsurance Group of America’s dividend payout ratio is currently 17.22%.

Insider Transactions at Reinsurance Group of America

In other Reinsurance Group of America news, EVP Jonathan Porter sold 8,589 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $246.30, for a total transaction of $2,115,470.70. Following the sale, the executive vice president directly owned 14,885 shares of the company’s stock, valued at $3,666,175.50. The trade was a 36.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Reinsurance Group of America

A number of institutional investors and hedge funds have recently modified their holdings of the company. Tobam grew its holdings in Reinsurance Group of America by 244.7% during the fourth quarter. Tobam now owns 162 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 115 shares during the period. Whipplewood Advisors LLC raised its stake in Reinsurance Group of America by 4,400.0% in the first quarter. Whipplewood Advisors LLC now owns 225 shares of the insurance provider’s stock valued at $46,000 after buying an additional 220 shares during the period. Millstone Evans Group LLC boosted its stake in shares of Reinsurance Group of America by 77.0% during the 1st quarter. Millstone Evans Group LLC now owns 239 shares of the insurance provider’s stock worth $49,000 after acquiring an additional 104 shares during the period. Wick Capital Partners LLC acquired a new position in shares of Reinsurance Group of America during the 4th quarter worth approximately $51,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Reinsurance Group of America during the fourth quarter worth $53,000. 95.11% of the stock is owned by institutional investors.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated (NYSE:RGA) is a global provider of life and health reinsurance. The company helps insurance organizations manage mortality, longevity, morbidity and other insurance risks by assuming portions of their business and providing capital, risk-management expertise and specialized underwriting support.

RGA offers traditional reinsurance and financial solutions for individual life insurance, group life and health coverage, retirement and annuity products, long-term care and disability insurance.