Reinsurance Group of America (NYSE:RGA) Price Target Raised to $235.00 at Piper Sandler

Reinsurance Group of America (NYSE:RGA) had its target price boosted by Piper Sandler from $228.00 to $235.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an overweight rating on the insurance provider’s stock.

Other equities research analysts have also issued research reports about the company. Evercore ISI increased their target price on Reinsurance Group of America from $225.00 to $241.00 and gave the company an outperform rating in a research note on Wednesday. Keefe, Bruyette & Woods increased their price target 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. Wells Fargo & Company lifted their price objective on Reinsurance Group of America from $210.00 to $227.00 and gave the stock an overweight rating in a report on Friday, May 10th. JPMorgan Chase & Co. lifted their price objective on Reinsurance Group of America from $189.00 to $195.00 and gave the stock a neutral rating in a report on Friday, May 3rd. Finally, Royal Bank of Canada restated an outperform rating and set a $225.00 price objective on shares of Reinsurance Group of America in a report on Friday, June 14th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $220.00.

Reinsurance Group of America Stock Performance

NYSE RGA opened at $205.27 on Friday. The company has a market capitalization of $13.50 billion, a PE ratio of 15.95 and a beta of 0.92. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.46. The business’s 50-day moving average price is $203.58 and its 200 day moving average price is $184.79. Reinsurance Group of America has a twelve month low of $135.07 and a twelve month high of $213.21.

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

Reinsurance Group of America Dividend Announcement

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

Insider Transactions at Reinsurance Group of America

In related news, EVP John W. Hayden sold 1,767 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $3,410,956.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.37% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. New Covenant Trust Company N.A. acquired a new position in Reinsurance Group of America during the 1st quarter valued at approximately $28,000. Rise Advisors LLC bought a new stake in Reinsurance Group of America during the 1st quarter valued at $29,000. Lindbrook Capital LLC raised its stake 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 valued at $25,000 after acquiring an additional 87 shares in the last quarter. LRI Investments LLC bought a new stake in Reinsurance Group of America during the 1st quarter valued at $33,000. Finally, Pineridge Advisors LLC bought a new stake in Reinsurance Group of America during the 4th quarter valued at $26,000. Institutional investors and hedge funds 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.