Reinsurance Group of America (NYSE:RGA) Given New $252.00 Price Target at Citigroup

Reinsurance Group of America (NYSE:RGA) had its price objective raised by Citigroup from $194.00 to $252.00 in a research note released on Tuesday morning, Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

A number of other research analysts have also recently weighed in on RGA. UBS Group boosted their price objective 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. Morgan Stanley boosted their target price on shares of Reinsurance Group of America from $216.00 to $217.00 and gave the company an equal weight rating in a research note on Wednesday, July 10th. Royal Bank of Canada reissued an outperform rating and set a $225.00 target price on shares of Reinsurance Group of America in a research note on Friday, June 14th. JPMorgan Chase & Co. boosted their target price on shares of Reinsurance Group of America from $195.00 to $208.00 and gave the company a neutral rating in a research note on Tuesday, July 2nd. Finally, Evercore ISI upped their price objective on shares of 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 assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Reinsurance Group of America has a consensus rating of Moderate Buy and a consensus target price of $215.64.

Reinsurance Group of America Price Performance

NYSE:RGA traded down $1.14 during trading hours on Tuesday, hitting $220.10. 193,051 shares of the stock traded hands, compared to its average volume of 357,904. 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 1 year low of $135.07 and a 1 year high of $223.49. The company has a market cap of $14.48 billion, a price-to-earnings ratio of 17.17 and a beta of 0.92. The stock has a 50 day moving average price of $208.20 and a 200 day moving average price of $190.81.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Friday, May 3rd. The insurance provider reported $6.02 earnings per share 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 the consensus estimate 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 firm earned $5.16 earnings per share. Sell-side analysts forecast that Reinsurance Group of America will post 21.11 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date was Monday, May 13th. Reinsurance Group of America’s payout ratio is 26.42%.

Insider Buying and Selling

In related news, EVP John W. Hayden sold 1,767 shares of the firm’s 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 completion of the transaction, the executive vice president now directly owns 16,490 shares in the company, valued at approximately $3,410,956.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.37% of the company’s stock.

Hedge Funds Weigh In On Reinsurance Group of America

Hedge funds and other institutional investors have recently bought and sold shares of the company. New Covenant Trust Company N.A. purchased a new position in Reinsurance Group of America during the 1st quarter valued at about $28,000. Rise Advisors LLC purchased a new position in Reinsurance Group of America during the 1st quarter valued at about $29,000. Lindbrook Capital LLC boosted its stake 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 valued at $25,000 after buying an additional 87 shares during the period. LRI Investments LLC purchased a new position in shares of Reinsurance Group of America in the 1st quarter valued at about $33,000. Finally, Pineridge Advisors LLC purchased a new position in shares of Reinsurance Group of America in the 4th quarter valued at about $26,000. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Reinsurance Group of America Company Profile

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.