Reinsurance Group of America (NYSE:RGA) Price Target Lowered to $242.00 at Piper Sandler

Reinsurance Group of America (NYSE:RGA) had its price objective lowered by Piper Sandler from $252.00 to $242.00 in a research report report published on Monday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the insurance provider’s stock.

A number of other equities analysts also recently issued reports on the stock. Royal Bank of Canada raised their price objective on shares of Reinsurance Group of America from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Barclays cut their price objective on shares of Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. StockNews.com raised Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. boosted their price target 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. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Reinsurance Group of America currently has an average rating of “Moderate Buy” and a consensus target price of $228.31.

Reinsurance Group of America Price Performance

Shares of RGA opened at $200.73 on Monday. The firm has a fifty day simple moving average of $218.73 and a two-hundred day simple moving average of $217.40. The firm has a market cap of $13.22 billion, a PE ratio of 18.69 and a beta of 0.93. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.45. Reinsurance Group of America has a 1-year low of $165.38 and a 1-year high of $233.81.

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

Reinsurance Group of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Tuesday, February 18th. Reinsurance Group of America’s dividend payout ratio is presently 33.15%.

Hedge Funds Weigh In On Reinsurance Group of America

Institutional investors and hedge funds have recently made changes to their positions in the business. WCM Investment Management LLC increased its position in shares of Reinsurance Group of America by 1.4% during the 4th quarter. WCM Investment Management LLC now owns 2,480,750 shares of the insurance provider’s stock valued at $526,911,000 after purchasing an additional 33,082 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Reinsurance Group of America by 1.7% in the third quarter. Geode Capital Management LLC now owns 1,109,766 shares of the insurance provider’s stock worth $241,849,000 after purchasing an additional 18,162 shares during the last quarter. Stifel Financial Corp increased its position in shares of Reinsurance Group of America by 8.2% during the third quarter. Stifel Financial Corp now owns 366,601 shares of the insurance provider’s stock worth $79,872,000 after acquiring an additional 27,931 shares during the period. JPMorgan Chase & Co. raised its position in Reinsurance Group of America by 47.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 364,953 shares of the insurance provider’s stock valued at $79,512,000 after purchasing an additional 117,829 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Reinsurance Group of America in the fourth quarter worth about $48,724,000. 95.11% of the stock is owned by hedge funds and other 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.