Reinsurance Group of America (NYSE:RGA) Given New $235.00 Price Target at Royal Bank of Canada

Reinsurance Group of America (NYSE:RGA) had its price objective lifted by Royal Bank of Canada from $225.00 to $235.00 in a research report report published on Monday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the insurance provider’s stock.

A number of other analysts have also recently weighed in on RGA. Jefferies Financial Group upped their price target on shares of Reinsurance Group of America from $63.00 to $64.00 and gave the stock a buy rating in a research report on Wednesday, July 10th. Raymond James upped their target price on Reinsurance Group of America from $212.00 to $228.00 and gave the stock a strong-buy rating in a research report on Friday, June 14th. Evercore ISI raised their target price on Reinsurance Group of America from $225.00 to $241.00 and gave the company an outperform rating in a report on Wednesday, June 26th. Keefe, Bruyette & Woods upped their price target 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. Finally, Citigroup lifted their price objective on shares of Reinsurance Group of America from $194.00 to $252.00 and gave the company a buy rating in a research note on Tuesday, July 23rd. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Reinsurance Group of America presently has an average rating of Moderate Buy and an average price target of $217.64.

Reinsurance Group of America Stock Performance

Shares of NYSE:RGA opened at $201.22 on Monday. The business has a 50-day moving average of $208.86 and a two-hundred day moving average of $194.23. The firm has a market capitalization of $13.24 billion, a PE ratio of 15.63 and a beta of 0.92. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.19 and a quick ratio of 0.19. Reinsurance Group of America has a 12 month low of $135.07 and a 12 month high of $227.87.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.94 by $0.54. The firm had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $5.07 billion. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 16.23%. The company’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.40 EPS. As a group, research analysts forecast that Reinsurance Group of America will post 21.24 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Friday, August 9th. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.85. Reinsurance Group of America’s payout ratio is 26.42%.

Insider Buying and Selling at Reinsurance Group of America

In other news, EVP John W. Hayden sold 1,767 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $206.85, for a total value of $365,503.95. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.37% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Reinsurance Group of America

A number of hedge funds have recently bought and sold shares of RGA. Earnest Partners LLC lifted its holdings in Reinsurance Group of America by 4.2% during the 1st quarter. Earnest Partners LLC now owns 2,577,901 shares of the insurance provider’s stock worth $497,226,000 after buying an additional 104,256 shares during the last quarter. Nuance Investments LLC boosted its holdings in Reinsurance Group of America by 14.7% in the fourth quarter. Nuance Investments LLC now owns 1,114,060 shares of the insurance provider’s stock worth $180,233,000 after purchasing an additional 142,627 shares during the period. Sei Investments Co. boosted its holdings in Reinsurance Group of America by 5.7% in the first quarter. Sei Investments Co. now owns 780,010 shares of the insurance provider’s stock worth $150,448,000 after purchasing an additional 42,135 shares during the period. Norges Bank bought a new stake in Reinsurance Group of America during the fourth quarter valued at $122,301,000. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Reinsurance Group of America by 2.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 584,137 shares of the insurance provider’s stock worth $112,668,000 after purchasing an additional 15,926 shares during the period. 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.