Reinsurance Group of America, Incorporated (NYSE:RGA) Receives $227.77 Average Target Price from Brokerages

Reinsurance Group of America, Incorporated (NYSE:RGA) has earned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $227.77.

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada upped their price target on shares of Reinsurance Group of America from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Piper Sandler raised their target price on shares of Reinsurance Group of America from $237.00 to $242.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. TD Cowen initiated coverage on Reinsurance Group of America in a report on Wednesday, October 9th. They issued a “hold” rating and a $235.00 price target on the stock. StockNews.com raised Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. boosted their target price on Reinsurance Group of America from $220.00 to $222.00 and gave the stock a “neutral” rating in a research report on Thursday, October 3rd.

Insider Activity

In related news, EVP William L. Hutton sold 1,209 shares of Reinsurance Group of America 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 sale, the executive vice president now owns 12,357 shares of the company’s stock, valued at approximately $2,705,812.29. This trade represents a 8.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.37% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. 1832 Asset Management L.P. acquired a new position in Reinsurance Group of America during the first quarter worth $1,953,000. LRI Investments LLC acquired a new position in shares of Reinsurance Group of America during the 1st quarter valued at about $33,000. Price T Rowe Associates Inc. MD lifted its holdings in Reinsurance Group of America by 22.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 143,178 shares of the insurance provider’s stock worth $27,617,000 after purchasing an additional 26,306 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new stake in Reinsurance Group of America during the first quarter worth approximately $12,529,000. Finally, Tidal Investments LLC grew its holdings in Reinsurance Group of America by 88.5% during the first quarter. Tidal Investments LLC now owns 9,942 shares of the insurance provider’s stock valued at $1,918,000 after purchasing an additional 4,667 shares during the last quarter. Institutional investors and hedge funds own 95.11% of the company’s stock.

Reinsurance Group of America Price Performance

NYSE RGA opened at $229.46 on Monday. Reinsurance Group of America has a 12 month low of $157.48 and a 12 month high of $233.81. The firm has a market capitalization of $15.11 billion, a PE ratio of 21.07 and a beta of 0.92. The company’s 50 day simple moving average is $219.86 and its 200 day simple moving average is $213.42. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.17 and a quick ratio of 0.17.

Reinsurance Group of America (NYSE:RGA) last posted 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. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.29 billion. During the same quarter in the previous year, the business earned $5.57 EPS. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, equities research analysts forecast that Reinsurance Group of America will post 21.93 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.89 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.56 annualized dividend and a yield of 1.55%. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 32.69%.

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.