Reinsurance Group of America (NYSE:RGA) Price Target Raised to $228.00

Reinsurance Group of America (NYSE:RGAFree Report) had its target price boosted by Raymond James from $212.00 to $228.00 in a research note published on Friday morning, Benzinga reports. They currently have a strong-buy rating on the insurance provider’s stock.

RGA has been the topic of several other research reports. Evercore ISI lifted their price target on shares of Reinsurance Group of America from $200.00 to $215.00 and gave the company an outperform rating in a report on Thursday, April 11th. Morgan Stanley lifted their target price 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. JPMorgan Chase & Co. increased their price target on shares of Reinsurance Group of America from $189.00 to $195.00 and gave the stock a neutral rating in a research note on Friday, May 3rd. Piper Sandler lifted their price objective on Reinsurance Group of America from $195.00 to $220.00 and gave the company an overweight rating in a research report on Friday, April 5th. Finally, Royal Bank of Canada reiterated an outperform rating and set a $225.00 target price on shares of Reinsurance Group of America in a report on Friday. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Reinsurance Group of America presently has a consensus rating of Moderate Buy and a consensus target price of $211.00.

Check Out Our Latest Analysis on RGA

Reinsurance Group of America Stock Performance

Reinsurance Group of America stock opened at $202.01 on Friday. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.46. The firm has a market cap of $13.29 billion, a P/E ratio of 15.70 and a beta of 0.92. Reinsurance Group of America has a 1-year low of $135.07 and a 1-year high of $213.21. The firm has a 50-day moving average of $199.41 and a 200-day moving average of $182.07.

Reinsurance Group of America (NYSE:RGAGet Free Report) last released its quarterly earnings data on Friday, May 3rd. The insurance provider reported $6.02 earnings per share for the quarter, topping the consensus estimate of $4.55 by $1.47. Reinsurance Group of America had a return on equity of 15.94% and a net margin of 4.16%. The business had revenue of $6.34 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter last year, the business posted $5.16 EPS. Sell-side analysts expect that Reinsurance Group of America will post 20.66 EPS for the current year.

Reinsurance Group of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th were paid a $0.85 dividend. The ex-dividend date of this dividend was Monday, May 13th. This represents a $3.40 annualized dividend and a dividend yield of 1.68%. Reinsurance Group of America’s payout ratio is currently 26.42%.

Insider Activity at Reinsurance Group of America

In other Reinsurance Group of America news, EVP John W. Hayden sold 1,767 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $206.85, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.37% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Reinsurance Group of America

A number of hedge funds have recently bought and sold shares of RGA. New Covenant Trust Company N.A. bought a new stake in Reinsurance Group of America during the 1st quarter valued at about $28,000. Rise Advisors LLC purchased a new stake in shares of Reinsurance Group of America during the first quarter valued at approximately $29,000. Lindbrook Capital LLC increased its position in shares of Reinsurance Group of America by 129.9% during the fourth quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 87 shares in the last quarter. LRI Investments LLC purchased a new position in Reinsurance Group of America in the 1st quarter worth approximately $33,000. Finally, Pineridge Advisors LLC purchased a new stake in shares of Reinsurance Group of America during the fourth quarter valued at $26,000. Institutional investors own 95.11% of the company’s stock.

About Reinsurance Group of America

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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.

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Analyst Recommendations for Reinsurance Group of America (NYSE:RGA)

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