Analysts Set Reinsurance Group of America, Incorporated (NYSE:RGA) PT at $223.33

Shares of Reinsurance Group of America, Incorporated (NYSE:RGA) have been given a consensus recommendation of “Moderate Buy” by the twelve analysts that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $223.33.

RGA has been the subject of several analyst reports. Royal Bank of Canada lifted 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. Morgan Stanley lowered their price target on Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Raymond James boosted their price target on Reinsurance Group of America from $212.00 to $228.00 and gave the stock a “strong-buy” rating in a report on Friday, June 14th. Barclays started coverage on Reinsurance Group of America in a research report on Wednesday, September 4th. They set an “overweight” rating and a $255.00 price objective on the stock. Finally, Piper Sandler boosted their price objective on Reinsurance Group of America from $228.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, June 28th.

Reinsurance Group of America Price Performance

Shares of NYSE RGA opened at $213.56 on Wednesday. The stock has a market capitalization of $14.07 billion, a PE ratio of 16.59 and a beta of 0.91. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.17 and a quick ratio of 0.17. The business has a fifty day moving average price of $212.08 and a two-hundred day moving average price of $201.77. Reinsurance Group of America has a fifty-two week low of $140.39 and a fifty-two week high of $227.87.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 earnings per share 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 analysts’ expectations of $5.07 billion. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.40 EPS. As a group, equities analysts predict that Reinsurance Group of America will post 21.5 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were given a dividend of $0.89 per share. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.56 annualized dividend and a dividend yield of 1.67%. Reinsurance Group of America’s dividend payout ratio is presently 27.66%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in RGA. Norges Bank acquired a new position in Reinsurance Group of America during the 4th quarter worth approximately $122,301,000. Junto Capital Management LP purchased a new stake in shares of Reinsurance Group of America in the fourth quarter worth approximately $92,083,000. Zurich Insurance Group Ltd FI raised its stake in shares of Reinsurance Group of America by 681.8% in the second quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider’s stock worth $104,244,000 after purchasing an additional 442,883 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of Reinsurance Group of America in the fourth quarter worth approximately $67,177,000. Finally, Corient Private Wealth LLC raised its stake in shares of Reinsurance Group of America by 1,965.4% in the fourth quarter. Corient Private Wealth LLC now owns 298,352 shares of the insurance provider’s stock worth $48,267,000 after purchasing an additional 283,907 shares during 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.