Reinsurance Group of America (NYSE:RGA) Price Target Lowered to $250.00 at Barclays

Reinsurance Group of America (NYSE:RGA) had its target price trimmed by Barclays from $255.00 to $250.00 in a research note released on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the insurance provider’s stock.

Several other research firms also recently commented on RGA. Piper Sandler increased their price objective on Reinsurance Group of America from $237.00 to $242.00 and gave the company an overweight rating in a report on Wednesday, October 2nd. Wells Fargo & Company increased their price objective on Reinsurance Group of America from $236.00 to $239.00 and gave the company an overweight rating in a report on Friday, August 9th. Royal Bank of Canada increased their price objective on Reinsurance Group of America from $225.00 to $235.00 and gave the company an outperform rating in a report on Monday, August 5th. Citigroup increased their price target on 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. Finally, Raymond James increased their price target on Reinsurance Group of America from $228.00 to $250.00 and gave the company a strong-buy rating in a research note on Tuesday, September 24th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Reinsurance Group of America has an average rating of Moderate Buy and an average price target of $226.62.

Reinsurance Group of America Trading Up 1.0 %

NYSE:RGA opened at $216.35 on Tuesday. Reinsurance Group of America has a twelve month low of $143.96 and a twelve month high of $227.87. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average price of $212.42 and a two-hundred day moving average price of $206.38. The company has a market cap of $14.23 billion, a P/E ratio of 16.81 and a beta of 0.91.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, beating the consensus estimate of $4.94 by $0.54. The company had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $5.07 billion. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.40 EPS. As a group, analysts expect that Reinsurance Group of America will post 21.72 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were given a dividend of $0.89 per share. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.85. The ex-dividend date was Friday, August 9th. This represents a $3.56 annualized dividend and a yield of 1.65%. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 27.66%.

Insiders Place Their Bets

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the 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 transaction, the executive vice president now owns 12,357 shares in the company, valued at $2,705,812.29. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.37% of the company’s stock.

Institutional Trading of Reinsurance Group of America

Large investors have recently modified their holdings of the stock. Armstrong Advisory Group Inc. acquired a new stake in shares of Reinsurance Group of America during the 3rd quarter worth $25,000. International Assets Investment Management LLC acquired a new stake in Reinsurance Group of America in the second quarter valued at about $28,000. Family Firm Inc. acquired a new stake in Reinsurance Group of America in the second quarter valued at about $29,000. New Covenant Trust Company N.A. acquired a new stake in Reinsurance Group of America in the first quarter valued at about $28,000. Finally, Rise Advisors LLC acquired a new stake in Reinsurance Group of America in the first quarter valued at about $29,000. 95.11% of the stock is 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.