JPMorgan Chase & Co. Boosts Reinsurance Group of America (NYSE:RGA) Price Target to $222.00

Reinsurance Group of America (NYSE:RGA) had its price objective increased by JPMorgan Chase & Co. from $220.00 to $222.00 in a research report released on Thursday, Benzinga reports. They currently have a neutral rating on the insurance provider’s stock.

A number of other equities analysts have also commented on the stock. Piper Sandler raised their price objective on shares of Reinsurance Group of America from $237.00 to $242.00 and gave the company an overweight rating in a research report on Wednesday. Wells Fargo & Company boosted their price target on shares of Reinsurance Group of America from $236.00 to $239.00 and gave the company an overweight rating in a research report on Friday, August 9th. Royal Bank of Canada increased their price objective on Reinsurance Group of America from $225.00 to $235.00 and gave the stock an outperform rating in a research report on Monday, August 5th. StockNews.com upgraded Reinsurance Group of America from a hold rating to a buy rating in a research note on Friday, September 27th. Finally, Barclays assumed coverage on Reinsurance Group of America in a research report on Wednesday, September 4th. They set an overweight rating and a $255.00 price target for the company. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Reinsurance Group of America has a consensus rating of Moderate Buy and an average target price of $225.92.

Reinsurance Group of America Price Performance

RGA opened at $219.94 on Thursday. The firm has a 50-day moving average price of $213.21 and a 200-day moving average price of $205.77. Reinsurance Group of America has a twelve month low of $140.75 and a twelve month high of $227.87. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $14.49 billion, a price-to-earnings ratio of 17.09 and a beta of 0.91.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.94 by $0.54. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. The firm had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $5.07 billion. During the same quarter in the prior year, the business posted $4.40 earnings per share. The business’s quarterly revenue was up 17.4% on a year-over-year basis. Equities analysts expect that Reinsurance Group of America will post 21.7 EPS for the current year.

Reinsurance Group of America Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were paid a dividend of $0.89 per share. The ex-dividend date of this dividend was Friday, August 9th. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 1.62%. Reinsurance Group of America’s dividend payout ratio (DPR) is 27.66%.

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 shares were sold at an average price of $218.97, for a total value of $264,734.73. Following the transaction, the executive vice president now owns 12,357 shares in the company, valued at $2,705,812.29. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.37% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Reinsurance Group of America

Institutional investors and hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC purchased a new position in shares of Reinsurance Group of America in the second quarter worth $28,000. Family Firm Inc. bought a new position in shares of Reinsurance Group of America during the second quarter valued at about $29,000. New Covenant Trust Company N.A. bought a new position in shares of Reinsurance Group of America during the first quarter valued at about $28,000. Rise Advisors LLC purchased a new stake in shares of Reinsurance Group of America during the first quarter worth about $29,000. Finally, LRI Investments LLC bought a new stake in shares of Reinsurance Group of America in the first quarter worth about $33,000. 95.11% of the stock is currently owned by institutional investors.

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.