Reinsurance Group of America (NYSE:RGA) Price Target Raised to $223.00

by · The Markets Daily

Reinsurance Group of America (NYSE:RGA – Free Report) had its price target lifted by Morgan Stanley from $208.00 to $223.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an equal weight rating on the insurance provider’s stock.

A number of other equities analysts also recently weighed in on the company. Piper Sandler restated an “overweight” rating and issued a $263.00 target price on shares of Reinsurance Group of America in a research note on Friday, February 6th. Keefe, Bruyette & Woods reduced their price objective on Reinsurance Group of America from $255.00 to $240.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Wells Fargo & Company raised their target price on Reinsurance Group of America from $238.00 to $261.00 and gave the company an “overweight” rating in a research report on Wednesday, February 25th. Wall Street Zen upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Finally, TD Cowen reissued a “hold” rating on shares of Reinsurance Group of America in a report on Wednesday, January 28th. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $247.75.

View Our Latest Stock Report on Reinsurance Group of America

Reinsurance Group of America Price Performance

Shares of NYSE:RGA opened at $208.13 on Tuesday. Reinsurance Group of America has a 1-year low of $159.25 and a 1-year high of $229.21. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.42. The stock has a market cap of $13.65 billion, a PE ratio of 11.73 and a beta of 0.50. The stock’s fifty day simple moving average is $207.84 and its two-hundred day simple moving average is $197.69.

Reinsurance Group of America (NYSE:RGA – Get Free Report) last released its quarterly earnings results on Thursday, February 5th. The insurance provider reported $7.75 earnings per share for the quarter, beating analysts’ consensus estimates of $5.86 by $1.89. Reinsurance Group of America had a net margin of 4.99% and a return on equity of 12.99%. The company had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.25 billion. During the same period last year, the firm earned $4.99 earnings per share. The firm’s revenue was up 26.6% on a year-over-year basis. As a group, analysts forecast that Reinsurance Group of America will post 22.9 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, March 3rd. Stockholders of record on Tuesday, February 17th were paid a $0.93 dividend. The ex-dividend date was Tuesday, February 17th. This represents a $3.72 annualized dividend and a dividend yield of 1.8%. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 20.96%.

Institutional Trading of Reinsurance Group of America

A number of institutional investors have recently modified their holdings of RGA. Caitong International Asset Management Co. Ltd purchased a new position in Reinsurance Group of America in the 4th quarter valued at approximately $53,000. Tobam boosted its holdings in shares of Reinsurance Group of America by 244.7% in the fourth quarter. Tobam now owns 162 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 115 shares during the period. Wick Capital Partners LLC purchased a new position in shares of Reinsurance Group of America in the fourth quarter valued at $201,000. DGS Capital Management LLC purchased a new position in shares of Reinsurance Group of America in the fourth quarter valued at $261,000. Finally, Dean Capital Management lifted its holdings in Reinsurance Group of America by 3.2% during the 4th quarter. Dean Capital Management now owns 11,160 shares of the insurance provider’s stock worth $2,271,000 after purchasing an additional 345 shares in the last quarter. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Reinsurance Group of America Company Profile

(Get Free Report)

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.

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