Morgan Stanley Cuts Reinsurance Group of America (NYSE:RGA) Price Target to $233.00

Reinsurance Group of America (NYSE:RGA) had its target price decreased by Morgan Stanley from $245.00 to $233.00 in a research note issued to investors on Friday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the insurance provider’s stock.

Several other brokerages have also commented on RGA. JPMorgan Chase & Co. raised their price objective on Reinsurance Group of America from $227.00 to $232.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. StockNews.com raised Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Piper Sandler dropped their price objective on Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Barclays dropped their price objective on Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $245.00 price objective on shares of Reinsurance Group of America in a report on Monday, February 10th. Three 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 company’s stock. Based on data from MarketBeat.com, Reinsurance Group of America has a consensus rating of “Moderate Buy” and a consensus target price of $228.08.

Reinsurance Group of America Stock Down 2.3 %

Reinsurance Group of America stock opened at $199.72 on Friday. The firm has a market cap of $13.15 billion, a price-to-earnings ratio of 18.60 and a beta of 0.93. Reinsurance Group of America has a 52 week low of $167.80 and a 52 week high of $233.81. The business’s 50-day moving average price is $216.39 and its 200 day moving average price is $216.67. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.45.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, February 6th. The insurance provider reported $4.99 EPS for the quarter, missing the consensus estimate of $5.22 by ($0.23). Reinsurance Group of America had a return on equity of 14.80% and a net margin of 3.24%. As a group, sell-side analysts anticipate that Reinsurance Group of America will post 23.14 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given a dividend of $0.89 per share. The ex-dividend date is Tuesday, February 18th. This represents a $3.56 dividend on an annualized basis and a yield of 1.78%. Reinsurance Group of America’s payout ratio is 33.15%.

Hedge Funds Weigh In On Reinsurance Group of America

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Reinsurance Group of America by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 7,213,971 shares of the insurance provider’s stock worth $1,541,121,000 after buying an additional 51,733 shares in the last quarter. FMR LLC increased its stake in Reinsurance Group of America by 11.1% during the fourth quarter. FMR LLC now owns 5,640,788 shares of the insurance provider’s stock worth $1,205,042,000 after acquiring an additional 564,693 shares during the last quarter. WCM Investment Management LLC increased its stake in Reinsurance Group of America by 1.4% during the fourth quarter. WCM Investment Management LLC now owns 2,480,750 shares of the insurance provider’s stock worth $526,911,000 after acquiring an additional 33,082 shares during the last quarter. Alliancebernstein L.P. increased its stake in Reinsurance Group of America by 389.4% during the fourth quarter. Alliancebernstein L.P. now owns 1,123,022 shares of the insurance provider’s stock worth $239,911,000 after acquiring an additional 893,537 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Reinsurance Group of America by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 1,113,872 shares of the insurance provider’s stock worth $238,031,000 after acquiring an additional 4,106 shares during the last quarter. Hedge funds and other institutional investors 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.