Reinsurance Group of America (NYSE:RGA) Price Target Increased to $242.00 by Analysts at Piper Sandler

Reinsurance Group of America (NYSE:RGA) had its price target hoisted by Piper Sandler from $237.00 to $242.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the insurance provider’s stock.

Several other equities analysts also recently issued reports on RGA. JPMorgan Chase & Co. boosted their price objective on Reinsurance Group of America from $208.00 to $220.00 and gave the stock a neutral rating in a research report on Friday, August 2nd. Wells Fargo & Company increased their price target on Reinsurance Group of America from $236.00 to $239.00 and gave the stock an overweight rating in a research note on Friday, August 9th. Citigroup lifted their price objective on shares of Reinsurance Group of America from $194.00 to $252.00 and gave the company a buy rating in a research note on Tuesday, July 23rd. Raymond James boosted their price target on shares of Reinsurance Group of America from $228.00 to $250.00 and gave the stock a strong-buy rating in a research report on Tuesday, September 24th. Finally, Jefferies Financial Group increased their price objective on shares of Reinsurance Group of America from $63.00 to $64.00 and gave the company a buy rating in a report on Wednesday, July 10th. Two 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 stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $225.92.

Reinsurance Group of America Trading Up 2.5 %

NYSE:RGA opened at $219.94 on Wednesday. The firm has a market capitalization of $14.49 billion, a P/E ratio of 17.09 and a beta of 0.91. The business has a 50 day simple moving average of $213.21 and a 200 day simple moving average of $205.77. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.17 and a quick ratio of 0.17. Reinsurance Group of America has a 12-month low of $140.75 and a 12-month high of $227.87.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 earnings per share for the quarter, topping analysts’ consensus estimates of $4.94 by $0.54. The business had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $5.07 billion. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter last year, the company earned $4.40 EPS. Equities research analysts predict that Reinsurance Group of America will post 21.7 EPS for the current year.

Reinsurance Group of America Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders 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 a positive change 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 currently 27.66%.

Insider Activity

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the business’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 sale, the executive vice president now owns 12,357 shares in the company, valued at approximately $2,705,812.29. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.37% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Reinsurance Group of America

A number of large investors have recently made changes to their positions in RGA. KBC Group NV raised its stake in Reinsurance Group of America by 72.7% during the 4th quarter. KBC Group NV now owns 1,228 shares of the insurance provider’s stock valued at $199,000 after purchasing an additional 517 shares during the period. Pinebridge Investments L.P. lifted its stake in Reinsurance Group of America by 10.3% in the 4th quarter. Pinebridge Investments L.P. now owns 7,122 shares of the insurance provider’s stock worth $1,152,000 after acquiring an additional 667 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Reinsurance Group of America by 1.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 350,915 shares of the insurance provider’s stock worth $56,771,000 after acquiring an additional 3,801 shares during the period. Quadrature Capital Ltd grew its stake in Reinsurance Group of America by 1,124.1% during the 4th quarter. Quadrature Capital Ltd now owns 28,043 shares of the insurance provider’s stock valued at $4,536,000 after acquiring an additional 25,752 shares in the last quarter. Finally, Natixis Investment Managers International increased its holdings in shares of Reinsurance Group of America by 1.7% in the 4th quarter. Natixis Investment Managers International now owns 6,515 shares of the insurance provider’s stock valued at $1,054,000 after purchasing an additional 110 shares during the period. Institutional investors and hedge funds own 95.11% of the company’s stock.

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.