Reinsurance Group of America (NYSE:RGA) Price Target Increased to $247.00 by Analysts at Jefferies Financial Group

Reinsurance Group of America (NYSE:RGA) had its price objective lifted by Jefferies Financial Group from $240.00 to $247.00 in a research report report published on Friday morning, Benzinga reports. Jefferies Financial Group currently has a buy rating on the insurance provider’s stock.

Several other equities research analysts also recently weighed in on the company. Evercore ISI increased their price target on Reinsurance Group of America from $225.00 to $241.00 and gave the stock an outperform rating in a report on Wednesday. Keefe, Bruyette & Woods raised their target price on Reinsurance Group of America from $220.00 to $235.00 and gave the company an outperform rating in a report on Tuesday, May 7th. UBS Group raised their target price on Reinsurance Group of America from $223.00 to $240.00 and gave the company a buy rating in a report on Thursday, May 30th. Royal Bank of Canada reissued an outperform rating and issued a $225.00 target price on shares of Reinsurance Group of America in a report on Friday, June 14th. Finally, JPMorgan Chase & Co. raised their target price on Reinsurance Group of America from $189.00 to $195.00 and gave the company a neutral rating in a report on Friday, May 3rd. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $220.00.

Reinsurance Group of America Price Performance

Shares of NYSE RGA opened at $205.27 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.19 and a quick ratio of 0.19. The stock has a fifty day moving average price of $203.58 and a 200 day moving average price of $184.79. Reinsurance Group of America has a 1-year low of $135.07 and a 1-year high of $213.21. The company has a market cap of $13.50 billion, a PE ratio of 15.95 and a beta of 0.92.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Friday, May 3rd. The insurance provider reported $6.02 earnings per share for the quarter, topping the consensus estimate of $4.55 by $1.47. Reinsurance Group of America had a return on equity of 15.94% and a net margin of 4.16%. The firm had revenue of $6.34 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same period last year, the company earned $5.16 earnings per share. Sell-side analysts forecast that Reinsurance Group of America will post 20.94 EPS for the current year.

Reinsurance Group of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend was Monday, May 13th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 26.42%.

Insider Transactions at Reinsurance Group of America

In other news, EVP John W. Hayden sold 1,767 shares of Reinsurance Group of America stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $206.85, for a total transaction of $365,503.95. Following the completion of the transaction, the executive vice president now owns 16,490 shares of the company’s stock, valued at approximately $3,410,956.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.37% of the company’s stock.

Institutional Trading of Reinsurance Group of America

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Covestor Ltd increased its position in Reinsurance Group of America by 20.3% during the 1st quarter. Covestor Ltd now owns 374 shares of the insurance provider’s stock worth $72,000 after purchasing an additional 63 shares in the last quarter. Toth Financial Advisory Corp increased its position in Reinsurance Group of America by 41.2% during the 4th quarter. Toth Financial Advisory Corp now owns 240 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 70 shares in the last quarter. Tectonic Advisors LLC increased its position in Reinsurance Group of America by 4.3% during the 4th quarter. Tectonic Advisors LLC now owns 1,979 shares of the insurance provider’s stock worth $320,000 after purchasing an additional 82 shares in the last quarter. Lindbrook Capital LLC increased its position in Reinsurance Group of America by 129.9% during the 4th quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 87 shares in the last quarter. Finally, Private Advisor Group LLC increased its position in Reinsurance Group of America by 2.2% during the 4th quarter. Private Advisor Group LLC now owns 4,246 shares of the insurance provider’s stock worth $687,000 after purchasing an additional 92 shares in the last quarter. Hedge funds and other 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.