UBS Group Boosts Reinsurance Group of America (NYSE:RGA) Price Target to $240.00

Reinsurance Group of America (NYSE:RGAFree Report) had its price objective hoisted by UBS Group from $223.00 to $240.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has a buy rating on the insurance provider’s stock.

RGA has been the topic of a number of other reports. JPMorgan Chase & Co. upped their target price on shares of Reinsurance Group of America from $189.00 to $195.00 and gave the stock a neutral rating in a research report on Friday, May 3rd. Morgan Stanley upped their price target on Reinsurance Group of America from $178.00 to $185.00 and gave the company an equal weight rating in a research note on Monday, April 15th. Piper Sandler boosted their price objective on Reinsurance Group of America from $195.00 to $220.00 and gave the stock an overweight rating in a report on Friday, April 5th. Royal Bank of Canada reaffirmed an outperform rating and issued a $212.00 target price on shares of Reinsurance Group of America in a research note on Friday, April 12th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Reinsurance Group of America from $220.00 to $235.00 and gave the company an outperform rating in a report on Tuesday, May 7th. 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 to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $202.50.

Read Our Latest Stock Analysis on Reinsurance Group of America

Reinsurance Group of America Price Performance

Shares of Reinsurance Group of America stock opened at $209.80 on Thursday. Reinsurance Group of America has a 1-year low of $135.07 and a 1-year high of $213.21. The firm’s 50-day moving average price is $197.21 and its two-hundred day moving average price is $179.01. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $13.80 billion, a price-to-earnings ratio of 16.30 and a beta of 0.88.

Reinsurance Group of America (NYSE:RGAGet Free Report) last posted its quarterly earnings data on Friday, May 3rd. The insurance provider reported $6.02 EPS for the quarter, topping analysts’ consensus estimates of $4.55 by $1.47. Reinsurance Group of America had a return on equity of 15.94% and a net margin of 4.16%. The company had revenue of $6.34 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the previous year, the firm earned $5.16 earnings per share. On average, equities analysts predict that Reinsurance Group of America will post 20.66 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.62%. The ex-dividend date was Monday, May 13th. Reinsurance Group of America’s dividend payout ratio is 26.42%.

Insider Buying and Selling

In related news, EVP William L. Hutton sold 1,908 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $181.84, for a total transaction of $346,950.72. Following the completion of the transaction, the executive vice president now directly owns 13,363 shares in the company, valued at $2,429,927.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP John W. Hayden sold 1,767 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $206.85, for a total transaction of $365,503.95. Following the completion of the transaction, the executive vice president now directly owns 16,490 shares in the company, valued at approximately $3,410,956.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP William L. Hutton sold 1,908 shares of Reinsurance Group of America stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $181.84, for a total value of $346,950.72. Following the completion of the sale, the executive vice president now directly owns 13,363 shares in the company, valued at approximately $2,429,927.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,641 shares of company stock valued at $1,254,877. Company insiders own 1.37% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Covestor Ltd boosted its holdings in shares of Reinsurance Group of America by 20.3% in the 1st quarter. Covestor Ltd now owns 374 shares of the insurance provider’s stock valued at $72,000 after buying an additional 63 shares during the last quarter. Toth Financial Advisory Corp lifted its stake in Reinsurance Group of America by 41.2% in the fourth quarter. Toth Financial Advisory Corp now owns 240 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 70 shares during the last quarter. Tectonic Advisors LLC grew its position in shares of Reinsurance Group of America by 4.3% in the 4th quarter. Tectonic Advisors LLC now owns 1,979 shares of the insurance provider’s stock valued at $320,000 after acquiring an additional 82 shares during the period. Lindbrook Capital LLC increased its stake in shares of Reinsurance Group of America by 129.9% during the 4th quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 87 shares during the last quarter. Finally, Private Advisor Group LLC raised its holdings in shares of Reinsurance Group of America by 2.2% in the 4th quarter. Private Advisor Group LLC now owns 4,246 shares of the insurance provider’s stock valued at $687,000 after purchasing an additional 92 shares during the period. 95.11% of the stock is owned by institutional investors and hedge funds.

Reinsurance Group of America Company Profile

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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.

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