Reinsurance Group of America (NYSE:RGA) Price Target Raised to $232.00

Reinsurance Group of America (NYSE:RGA) had its price target boosted by JPMorgan Chase & Co. from $227.00 to $232.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a neutral rating on the insurance provider’s stock.

Other analysts have also recently issued research reports about the stock. Royal Bank of Canada upped their target price 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. Keefe, Bruyette & Woods upgraded Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, October 3rd. Piper Sandler raised their target price on Reinsurance Group of America from $237.00 to $242.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Barclays lowered their price target on Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating for the company in a research note on Monday. Finally, StockNews.com upgraded shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $228.31.

Reinsurance Group of America Price Performance

Shares of RGA stock opened at $221.82 on Tuesday. The firm has a market cap of $14.61 billion, a price-to-earnings ratio of 20.37 and a beta of 0.94. Reinsurance Group of America has a 12 month low of $163.81 and a 12 month high of $233.81. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.45. The stock has a 50-day moving average price of $219.66 and a 200 day moving average price of $215.21.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 EPS for the quarter, topping the consensus estimate of $5.31 by $0.82. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%. The company had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.29 billion. During the same quarter in the previous year, the company earned $5.57 EPS. Reinsurance Group of America’s revenue was up 9.7% on a year-over-year basis. Research analysts expect that Reinsurance Group of America will post 21.67 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were given a $0.89 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.56 annualized dividend and a yield of 1.60%. Reinsurance Group of America’s dividend payout ratio is currently 32.69%.

Hedge Funds Weigh In On Reinsurance Group of America

A number of large investors have recently added to or reduced their stakes in RGA. WCM Investment Management LLC boosted its position in shares of 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 buying an additional 2,260,605 shares during the period. Zurich Insurance Group Ltd FI boosted its position in Reinsurance Group of America by 681.8% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider’s stock worth $104,244,000 after acquiring an additional 442,883 shares during the last quarter. Millennium Management LLC grew its stake 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 acquiring an additional 133,212 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Reinsurance Group of America by 47.7% in the third 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 during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Reinsurance Group of America in the third quarter worth $11,803,000. 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.