Reinsurance Group of America (NYSE:RGA) Price Target Raised to $232.00

Reinsurance Group of America (NYSE:RGA) had its price objective lifted by JPMorgan Chase & Co. from $227.00 to $232.00 in a report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the insurance provider’s stock.

Several other research firms also recently weighed in on RGA. StockNews.com upgraded shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Raymond James upped their target price on Reinsurance Group of America from $228.00 to $250.00 and gave the company a “strong-buy” rating in a research note on Tuesday, September 24th. Keefe, Bruyette & Woods raised Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, October 3rd. Royal Bank of Canada raised their target price on shares of Reinsurance Group of America from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Finally, TD Cowen began coverage on Reinsurance Group of America in a report on Wednesday, October 9th. They issued a “hold” rating and a $235.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $228.31.

Reinsurance Group of America Stock Performance

Shares of RGA opened at $221.91 on Tuesday. The company’s 50 day simple moving average is $219.30 and its 200-day simple moving average is $215.11. Reinsurance Group of America has a 12-month low of $163.81 and a 12-month high of $233.81. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.45. The firm has a market cap of $14.62 billion, a PE ratio of 20.38 and a beta of 0.94.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 EPS for the quarter, beating the consensus estimate of $5.31 by $0.82. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The business had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.29 billion. During the same period last year, the firm earned $5.57 EPS. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, equities analysts predict that Reinsurance Group of America will post 21.67 EPS for the current year.

Reinsurance Group of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were given a dividend of $0.89 per share. The ex-dividend date was Friday, November 8th. This represents a $3.56 annualized dividend and a dividend yield of 1.60%. Reinsurance Group of America’s dividend payout ratio is currently 32.69%.

Institutional Investors Weigh In On Reinsurance Group of America

A number of hedge funds and other institutional investors have recently modified their holdings of RGA. Eagle Asset Management Inc. lifted its position in shares of Reinsurance Group of America by 15.7% during the 3rd quarter. Eagle Asset Management Inc. now owns 112,901 shares of the insurance provider’s stock valued at $25,297,000 after acquiring an additional 15,289 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in Reinsurance Group of America in the second quarter worth $1,925,000. Insight Wealth Strategies LLC acquired a new position in shares of Reinsurance Group of America during the 3rd quarter valued at about $3,548,000. Oppenheimer Asset Management Inc. grew its stake in Reinsurance Group of America by 23.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 31,798 shares of the insurance provider’s stock valued at $6,527,000 after buying an additional 6,144 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Reinsurance Group of America by 7.9% in the third quarter. Franklin Resources Inc. now owns 77,516 shares of the insurance provider’s stock worth $16,862,000 after purchasing an additional 5,699 shares during the period. 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.