Reinsurance Group of America (NYSE:RGA) Price Target Cut to $252.00 by Analysts at Barclays

Reinsurance Group of America (NYSE:RGA) had its target price decreased by Barclays from $255.00 to $252.00 in a research note published on Monday,Benzinga reports. Barclays currently has an overweight rating on the insurance provider’s stock.

A number of other equities research analysts have also recently commented on the company. Royal Bank of Canada increased their target price on Reinsurance Group of America from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Keefe, Bruyette & Woods upgraded Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, October 3rd. Raymond James upped their target price on shares of Reinsurance Group of America from $228.00 to $250.00 and gave the company a “strong-buy” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. lifted their price target on shares of Reinsurance Group of America from $220.00 to $222.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Finally, Piper Sandler upped their price objective on shares of Reinsurance Group of America from $237.00 to $242.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Reinsurance Group of America currently has a consensus rating of “Moderate Buy” and an average price target of $227.54.

Reinsurance Group of America Stock Down 0.2 %

Reinsurance Group of America stock opened at $218.30 on Monday. The stock’s 50 day moving average price is $218.98 and its 200 day moving average price is $214.93. The company has a market cap of $14.38 billion, a PE ratio of 20.05 and a beta of 0.94. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.17 and a quick ratio of 0.17. Reinsurance Group of America has a 1-year low of $163.81 and a 1-year high of $233.81.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share for the quarter, topping the consensus estimate of $5.31 by $0.82. The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.29 billion. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business posted $5.57 earnings per share. On average, sell-side analysts predict that Reinsurance Group of America will post 21.67 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were given a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend was Friday, November 8th. Reinsurance Group of America’s payout ratio is currently 32.69%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. WCM Investment Management LLC raised its stake in Reinsurance Group of America by 1,208.5% during the third quarter. WCM Investment Management LLC now owns 2,447,668 shares of the insurance provider’s stock worth $527,742,000 after acquiring an additional 2,260,605 shares during the period. Zurich Insurance Group Ltd FI grew its holdings in shares of Reinsurance Group of America by 681.8% during the second quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider’s stock valued at $104,244,000 after purchasing an additional 442,883 shares during the last quarter. Millennium Management LLC raised its position in shares of Reinsurance Group of America by 43.8% during the 2nd quarter. Millennium Management LLC now owns 437,266 shares of the insurance provider’s stock worth $89,758,000 after purchasing an additional 133,212 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Reinsurance Group of America by 47.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 364,953 shares of the insurance provider’s stock worth $79,512,000 after purchasing an additional 117,829 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Reinsurance Group of America during the 3rd quarter valued at approximately $11,803,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

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.