Reinsurance Group of America (NYSE:RGA) Price Target Increased to $208.00 by Analysts at JPMorgan Chase & Co.

Reinsurance Group of America (NYSE:RGA) had its price target boosted by JPMorgan Chase & Co. from $195.00 to $208.00 in a research report released on Tuesday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the insurance provider’s stock.

RGA has been the topic of a number of other research reports. Jefferies Financial Group increased their target price on Reinsurance Group of America from $240.00 to $247.00 and gave the stock a buy rating in a research note on Friday, June 28th. Piper Sandler raised their price objective on Reinsurance Group of America from $228.00 to $235.00 and gave the stock an overweight rating in a research note on Friday, June 28th. Keefe, Bruyette & Woods raised their price objective on Reinsurance Group of America from $220.00 to $235.00 and gave the stock an outperform rating in a research note on Tuesday, May 7th. Wells Fargo & Company raised their price objective on Reinsurance Group of America from $210.00 to $227.00 and gave the stock an overweight rating in a research note on Friday, May 10th. Finally, Morgan Stanley raised their price objective on Reinsurance Group of America from $178.00 to $185.00 and gave the stock an equal weight rating in a research note on Monday, April 15th. Two equities research 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $221.18.

Reinsurance Group of America Price Performance

Shares of NYSE RGA opened at $205.82 on Tuesday. The firm has a market cap of $13.54 billion, a P/E ratio of 15.99 and a beta of 0.92. The company has a current ratio of 0.19, a quick 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 $213.21. The business’s 50 day moving average is $204.22 and its 200-day moving average is $185.67.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Friday, May 3rd. The insurance provider reported $6.02 earnings per share for the quarter, topping analysts’ consensus estimates of $4.55 by $1.47. The company had revenue of $6.34 billion for the quarter, compared to analyst estimates of $4.54 billion. Reinsurance Group of America had a return on equity of 15.94% and a net margin of 4.16%. During the same quarter last year, the company earned $5.16 earnings per share. Equities research analysts predict that Reinsurance Group of America will post 20.94 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th were paid a $0.85 dividend. The ex-dividend date of this dividend was Monday, May 13th. This represents a $3.40 annualized dividend and a dividend yield of 1.65%. Reinsurance Group of America’s payout ratio is 26.42%.

Insider Activity

In other news, EVP John W. Hayden sold 1,767 shares of Reinsurance Group of America stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $206.85, for a total value of $365,503.95. Following the transaction, the executive vice president now owns 16,490 shares in the company, valued at approximately $3,410,956.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.37% of the company’s stock.

Institutional Investors Weigh In On Reinsurance Group of America

Several hedge funds have recently modified their holdings of RGA. Norges Bank acquired a new stake in shares of Reinsurance Group of America during the 4th quarter valued at $122,301,000. Junto Capital Management LP acquired a new stake in shares of Reinsurance Group of America during the 4th quarter valued at $92,083,000. Balyasny Asset Management L.P. acquired a new stake in shares of Reinsurance Group of America during the 4th quarter valued at $67,177,000. Adage Capital Partners GP L.L.C. lifted its holdings in Reinsurance Group of America by 966.7% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 320,000 shares of the insurance provider’s stock worth $46,461,000 after buying an additional 290,000 shares during the period. Finally, Corient Private Wealth LLC lifted its holdings in Reinsurance Group of America by 1,965.4% during the 4th quarter. Corient Private Wealth LLC now owns 298,352 shares of the insurance provider’s stock worth $48,267,000 after buying an additional 283,907 shares during the period. Institutional investors and hedge funds own 95.11% of the company’s stock.

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.