Reinsurance Group of America (NYSE:RGA) Price Target Raised to $255.00

Reinsurance Group of America (NYSE:RGA) had its price objective increased by Barclays from $250.00 to $255.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has an overweight rating on the insurance provider’s stock.

Several other analysts have also commented on the stock. Royal Bank of Canada increased their price target on shares of Reinsurance Group of America from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. StockNews.com raised Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Keefe, Bruyette & Woods upgraded shares of Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, October 3rd. Morgan Stanley cut their target price on shares of Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Finally, JPMorgan Chase & Co. upped 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 research report on Thursday, October 3rd. Three research 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $227.77.

Reinsurance Group of America Stock Up 0.7 %

Shares of Reinsurance Group of America stock opened at $230.70 on Friday. The company has a market cap of $15.19 billion, a P/E ratio of 21.18 and a beta of 0.92. Reinsurance Group of America has a one year low of $157.48 and a one year high of $233.14. The firm has a fifty day moving average of $219.09 and a two-hundred day moving average of $212.96. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.17 and a current ratio of 0.17.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Thursday, October 31st. The insurance provider reported $6.13 EPS for the quarter, beating analysts’ consensus estimates of $5.31 by $0.82. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The company had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.29 billion. During the same quarter last year, the company earned $5.57 earnings per share. Reinsurance Group of America’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, analysts forecast that Reinsurance Group of America will post 21.93 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be issued a $0.89 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.56 annualized dividend and a yield of 1.54%. Reinsurance Group of America’s dividend payout ratio is presently 32.69%.

Insider Activity at Reinsurance Group of America

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of Reinsurance Group of America stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total value of $264,734.73. Following the completion of the transaction, the executive vice president now directly owns 12,357 shares in the company, valued at $2,705,812.29. The trade was a 8.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.37% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Reinsurance Group of America

Hedge funds have recently added to or reduced their stakes in the stock. Armstrong Advisory Group Inc. bought a new position in Reinsurance Group of America in the 3rd quarter worth approximately $25,000. International Assets Investment Management LLC acquired a new stake in Reinsurance Group of America during the 2nd quarter valued at $28,000. Family Firm Inc. purchased a new position in Reinsurance Group of America during the 2nd quarter valued at about $29,000. New Covenant Trust Company N.A. acquired a new position in Reinsurance Group of America in the 1st quarter valued at approximately $28,000. Finally, Private Trust Co. NA boosted its position in Reinsurance Group of America by 333.3% during the third quarter. Private Trust Co. NA now owns 156 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 120 shares during the last quarter. 95.11% of the stock is currently owned by institutional investors.

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.