Brokerages Set Reinsurance Group of America, Incorporated (NYSE:RGA) Price Target at $218.73

Reinsurance Group of America, Incorporated (NYSE:RGA) has received an average recommendation of “Moderate Buy” from the eleven brokerages that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $220.45.

Several brokerages have recently weighed in on RGA. Evercore ISI upped their target price on shares of Reinsurance Group of America from $225.00 to $241.00 and gave the company an “outperform” rating in a research note on Wednesday, June 26th. Citigroup raised their target price 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. Royal Bank of Canada boosted their price target on Reinsurance Group of America from $225.00 to $235.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Raymond James raised their price objective on Reinsurance Group of America from $212.00 to $228.00 and gave the company a “strong-buy” rating in a research note on Friday, June 14th. Finally, Keefe, Bruyette & Woods lifted their price objective 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.

Reinsurance Group of America Trading Down 0.4 %

Shares of RGA stock opened at $208.52 on Friday. Reinsurance Group of America has a fifty-two week low of $135.07 and a fifty-two week high of $227.87. The firm’s 50 day moving average price is $208.83 and its two-hundred day moving average price is $196.26. The stock has a market cap of $13.72 billion, a price-to-earnings ratio of 16.20 and a beta of 0.92. 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 (NYSE:RGA) last announced its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 15.84% and a net margin of 4.01%. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.40 EPS. On average, analysts anticipate that Reinsurance Group of America will post 21.5 EPS for the current year.

Reinsurance Group of America Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders 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 yield of 1.71%. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.85. The ex-dividend date is Friday, August 9th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 27.66%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Earnest Partners LLC boosted its position in shares of Reinsurance Group of America by 1.9% during the second quarter. Earnest Partners LLC now owns 2,628,129 shares of the insurance provider’s stock worth $539,476,000 after buying an additional 50,228 shares during the period. Nuance Investments LLC boosted its position in Reinsurance Group of America by 14.7% during the 4th quarter. Nuance Investments LLC now owns 1,114,060 shares of the insurance provider’s stock worth $180,233,000 after acquiring an additional 142,627 shares during the period. Sei Investments Co. grew its stake in shares of Reinsurance Group of America by 5.9% in the second quarter. Sei Investments Co. now owns 825,719 shares of the insurance provider’s stock worth $169,497,000 after purchasing an additional 45,709 shares in the last quarter. Norges Bank acquired a new position in shares of Reinsurance Group of America during the fourth quarter valued at $122,301,000. Finally, Jacobs Levy Equity Management Inc. raised its stake 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 valued at $112,668,000 after purchasing an additional 15,926 shares in the last quarter. 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.