Reinsurance Group of America (NYSE:RGA) Price Target Increased to $208.00 by Analysts at JPMorgan Chase & Co.

Reinsurance Group of America (NYSE:RGA) had its target price upped by JPMorgan Chase & Co. from $195.00 to $208.00 in a research note published on Tuesday, Benzinga reports. They currently have a neutral rating on the insurance provider’s stock.

A number of other research analysts have also issued reports on RGA. Wells Fargo & Company upped their price target on shares of Reinsurance Group of America from $210.00 to $227.00 and gave the company an overweight rating in a research note on Friday, May 10th. Jefferies Financial Group upped their price target on shares of Reinsurance Group of America from $240.00 to $247.00 and gave the company a buy rating in a research note on Friday, June 28th. Evercore ISI upped their price target on shares of Reinsurance Group of America from $225.00 to $241.00 and gave the company an outperform rating in a research note on Wednesday, June 26th. Piper Sandler upped their price target on shares of Reinsurance Group of America from $228.00 to $235.00 and gave the company an overweight rating in a research note on Friday, June 28th. Finally, Morgan Stanley upped their price target on shares of Reinsurance Group of America from $178.00 to $185.00 and gave the company an equal weight rating in a research note on Monday, April 15th. Two equities research 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 stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $221.18.

Reinsurance Group of America Trading Up 0.4 %

NYSE RGA opened at $205.82 on Tuesday. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.46. The firm has a market cap of $13.54 billion, a PE ratio of 15.99 and a beta of 0.92. The company has a 50 day moving average price of $204.22 and a 200 day moving average price of $185.67. Reinsurance Group of America has a 52 week low of $135.07 and a 52 week high of $213.21.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data 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 firm had revenue of $6.34 billion during the quarter, compared to analyst estimates of $4.54 billion. Reinsurance Group of America had a net margin of 4.16% and a return on equity of 15.94%. During the same quarter in the previous year, the business posted $5.16 EPS. As a group, sell-side analysts forecast that Reinsurance Group of America will post 20.94 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.65%. 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 Buying and Selling

In related news, EVP John W. Hayden sold 1,767 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $206.85, for a total transaction of $365,503.95. Following the sale, the executive vice president now directly owns 16,490 shares of the company’s stock, valued at $3,410,956.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.37% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Reinsurance Group of America

A number of large investors have recently added to or reduced their stakes in RGA. Lindbrook Capital LLC raised its position in Reinsurance Group of America by 129.9% during the fourth quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 87 shares during the period. Pineridge Advisors LLC acquired a new position in Reinsurance Group of America during the fourth quarter worth $26,000. New Covenant Trust Company N.A. acquired a new position in Reinsurance Group of America during the first quarter worth $28,000. Rise Advisors LLC acquired a new position in Reinsurance Group of America during the first quarter worth $29,000. Finally, VisionPoint Advisory Group LLC raised its position in Reinsurance Group of America by 116.3% during the third quarter. VisionPoint Advisory Group LLC now owns 212 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 114 shares during the period. 95.11% of the stock is currently owned by institutional investors and hedge funds.

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.