Brokerages Set Reinsurance Group of America, Incorporated (NYSE:RGA) Price Target at $239.89

Reinsurance Group of America, Incorporated (NYSE:RGA) has earned an average recommendation of “Moderate Buy” from the eleven brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $239.8889.

A number of brokerages have recently issued reports on RGA. Barclays restated an “overweight” rating and issued a $246.00 price target on shares of Reinsurance Group of America in a research report on Wednesday, October 8th. Piper Sandler restated an “overweight” rating on shares of Reinsurance Group of America in a report on Tuesday, October 7th. Raymond James Financial downgraded Reinsurance Group of America from a “market perform” rating to an “underperform” rating in a report on Friday, October 17th. Keefe, Bruyette & Woods lowered their price objective on Reinsurance Group of America from $255.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Finally, Morgan Stanley cut their target price on Reinsurance Group of America from $210.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Monday, August 18th.

Reinsurance Group of America Trading Up 0.2%

NYSE RGA opened at $193.01 on Friday. The firm has a market capitalization of $12.68 billion, a PE ratio of 14.85 and a beta of 0.55. The business’s 50-day moving average price is $190.10 and its two-hundred day moving average price is $192.68. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.44. Reinsurance Group of America has a 12 month low of $159.25 and a 12 month high of $232.97.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, October 30th. The insurance provider reported $6.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.80 by $0.57. Reinsurance Group of America had a return on equity of 12.19% and a net margin of 3.89%.The company had revenue of $6.20 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same period last year, the company earned $6.13 earnings per share. The firm’s revenue was up 9.8% compared to the same quarter last year. On average, analysts expect that Reinsurance Group of America will post 22.9 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 11th were paid a $0.93 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $3.72 annualized dividend and a yield of 1.9%. Reinsurance Group of America’s payout ratio is 28.62%.

Institutional Trading of Reinsurance Group of America

Hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its stake in shares of Reinsurance Group of America by 1.8% in the first quarter. PNC Financial Services Group Inc. now owns 15,933 shares of the insurance provider’s stock valued at $3,137,000 after buying an additional 286 shares in the last quarter. Headlands Technologies LLC raised its holdings in shares of Reinsurance Group of America by 357.1% in the 1st quarter. Headlands Technologies LLC now owns 224 shares of the insurance provider’s stock worth $44,000 after acquiring an additional 175 shares during the last quarter. National Bank of Canada FI lifted its position in Reinsurance Group of America by 31.2% in the 1st quarter. National Bank of Canada FI now owns 38,490 shares of the insurance provider’s stock valued at $7,578,000 after acquiring an additional 9,151 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in Reinsurance Group of America during the 1st quarter valued at about $816,000. Finally, Townsquare Capital LLC boosted its stake in Reinsurance Group of America by 22.4% during the 1st quarter. Townsquare Capital LLC now owns 2,769 shares of the insurance provider’s stock valued at $545,000 after purchasing an additional 506 shares during the last quarter. Institutional investors own 95.11% of the company’s stock.

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.