Barclays Forecasts Strong Price Appreciation for Reinsurance Group of America (NYSE:RGA) Stock

Reinsurance Group of America (NYSE:RGA) had its target price raised by Barclays from $250.00 to $255.00 in a report released on Friday,Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

Other equities research analysts also recently issued research reports about the stock. StockNews.com raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Piper Sandler upped their target price 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. Morgan Stanley cut their price target on Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Raymond James upped their price objective on Reinsurance Group of America from $228.00 to $250.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, JPMorgan Chase & Co. raised their target price on Reinsurance Group of America from $220.00 to $222.00 and gave the company a “neutral” rating in a research note on Thursday, October 3rd. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $227.77.

Reinsurance Group of America Price Performance

Shares of RGA opened at $231.43 on Friday. Reinsurance Group of America has a 52 week low of $157.48 and a 52 week high of $233.81. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.45. The firm has a market cap of $15.24 billion, a price-to-earnings ratio of 21.25 and a beta of 0.92. The stock has a 50 day moving average of $219.35 and a 200-day moving average of $213.14.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Thursday, October 31st. The insurance provider reported $6.13 EPS for the quarter, topping analysts’ consensus estimates of $5.31 by $0.82. The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.29 billion. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%. The firm’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.57 earnings per share. As a group, analysts forecast that Reinsurance Group of America will post 21.93 EPS for the current year.

Reinsurance Group of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date is Friday, November 8th. Reinsurance Group of America’s dividend payout ratio is currently 32.69%.

Insider Activity at Reinsurance Group of America

In related news, EVP William L. Hutton sold 1,209 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $2,705,812.29. This trade represents a 8.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.37% of the company’s stock.

Institutional Investors Weigh In On Reinsurance Group of America

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Armstrong Advisory Group Inc. bought a new stake in shares of Reinsurance Group of America in the 3rd quarter worth approximately $25,000. New Covenant Trust Company N.A. acquired a new position in Reinsurance Group of America in the first quarter worth approximately $28,000. International Assets Investment Management LLC bought a new position in shares of Reinsurance Group of America in the second quarter valued at $28,000. Family Firm Inc. bought a new position in shares of Reinsurance Group of America in the second quarter valued at $29,000. Finally, LRI Investments LLC acquired a new stake in shares of Reinsurance Group of America during the 1st quarter valued at $33,000. 95.11% of the stock is owned by institutional investors and hedge funds.

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.