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

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

RGA has been the topic of a number of other reports. Morgan Stanley lowered their target price on Reinsurance Group of America from $238.00 to $236.00 and set an equal weight rating on the stock in a research report on Monday, August 19th. Evercore ISI lifted their price objective on shares of Reinsurance Group of America from $225.00 to $241.00 and gave the company an outperform rating in a report on Wednesday, June 26th. Jefferies Financial Group raised their price target on shares of Reinsurance Group of America from $63.00 to $64.00 and gave the company a buy rating in a research report on Wednesday, July 10th. StockNews.com raised Reinsurance Group of America from a hold rating to a buy rating in a research report on Friday, September 27th. Finally, JPMorgan Chase & Co. increased their price target on Reinsurance Group of America from $220.00 to $222.00 and gave the company a neutral rating in a research report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Buy and an average target price of $225.50.

Reinsurance Group of America Stock Performance

Shares of RGA stock opened at $213.59 on Tuesday. The firm has a 50 day moving average of $213.02 and a 200-day moving average of $206.09. The company has a market cap of $14.05 billion, a price-to-earnings ratio of 16.60 and a beta of 0.91. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.52. Reinsurance Group of America has a 52 week low of $143.89 and a 52 week high of $227.87.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, topping analysts’ consensus estimates of $4.94 by $0.54. The business had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $5.07 billion. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The business’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period last year, the company posted $4.40 earnings per share. On average, equities analysts forecast that Reinsurance Group of America will post 21.7 earnings per share for the current 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 issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.67%. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.85. The ex-dividend date was Friday, August 9th. Reinsurance Group of America’s dividend payout ratio is 27.66%.

Insider Buying and Selling at Reinsurance Group of America

In other 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 completion of the transaction, the executive vice president now owns 12,357 shares in the company, valued at approximately $2,705,812.29. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.37% of the company’s stock.

Institutional Investors Weigh In On Reinsurance Group of America

Several institutional investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. purchased a new stake in shares of Reinsurance Group of America during the 1st quarter valued at approximately $675,000. Price T Rowe Associates Inc. MD lifted its position in shares of Reinsurance Group of America by 22.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 143,178 shares of the insurance provider’s stock worth $27,617,000 after acquiring an additional 26,306 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Reinsurance Group of America by 50.9% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 7,486 shares of the insurance provider’s stock worth $1,459,000 after acquiring an additional 2,524 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Reinsurance Group of America by 57.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 232,773 shares of the insurance provider’s stock worth $44,897,000 after purchasing an additional 84,647 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its holdings in shares of Reinsurance Group of America by 5.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 67,400 shares of the insurance provider’s stock worth $13,000,000 after buying an additional 3,247 shares in the last quarter. 95.11% of the stock is 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.