Wells Fargo & Company Has Lowered Expectations for Reinsurance Group of America (NYSE:RGA) Stock Price

Reinsurance Group of America (NYSE:RGA) had its price objective reduced by Wells Fargo & Company from $264.00 to $246.00 in a research note issued to investors on Thursday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the insurance provider’s stock.

A number of other equities analysts also recently issued reports on the company. Morgan Stanley lowered their price objective on Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. Royal Bank of Canada restated an “outperform” rating and issued a $245.00 price target on shares of Reinsurance Group of America in a research report on Monday, February 10th. Piper Sandler reduced their price objective on shares of Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Barclays lowered their target price on shares of Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Finally, Evercore ISI cut their price target on shares of Reinsurance Group of America from $280.00 to $270.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $230.15.

Reinsurance Group of America Trading Up 2.4 %

Shares of NYSE RGA opened at $177.76 on Thursday. The stock has a market cap of $11.74 billion, a P/E ratio of 16.55 and a beta of 0.70. The firm has a 50 day moving average price of $193.93 and a two-hundred day moving average price of $210.55. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.17 and a current ratio of 0.15. Reinsurance Group of America has a 52-week low of $159.25 and a 52-week high of $233.81.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Thursday, February 6th. The insurance provider reported $4.99 earnings per share for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.23). Reinsurance Group of America had a net margin of 3.24% and a return on equity of 14.55%. As a group, equities analysts forecast that Reinsurance Group of America will post 22.9 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were issued a $0.89 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $3.56 annualized dividend and a yield of 2.00%. Reinsurance Group of America’s payout ratio is currently 33.15%.

Institutional Investors Weigh In On Reinsurance Group of America

Several hedge funds and other institutional investors have recently modified their holdings of RGA. Colonial Trust Co SC grew its position in Reinsurance Group of America by 72.2% in the 4th quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 57 shares during the period. Spire Wealth Management lifted its stake in shares of Reinsurance Group of America by 39.0% in the fourth quarter. Spire Wealth Management now owns 203 shares of the insurance provider’s stock valued at $43,000 after buying an additional 57 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Reinsurance Group of America during the fourth quarter valued at about $44,000. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Reinsurance Group of America by 78.2% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 310 shares of the insurance provider’s stock worth $61,000 after acquiring an additional 136 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of Reinsurance Group of America by 38.1% in the 4th quarter. Versant Capital Management Inc now owns 290 shares of the insurance provider’s stock worth $62,000 after acquiring an additional 80 shares during the last quarter. Institutional investors own 95.11% of the company’s stock.

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.