Reinsurance Group of America (NYSE:RGA) Price Target Cut to $270.00 by Analysts at Evercore ISI

Reinsurance Group of America (NYSE:RGA) had its price target reduced by Evercore ISI from $280.00 to $270.00 in a research report released on Thursday,Benzinga reports. Evercore ISI currently has an outperform rating on the insurance provider’s stock.

A number of other analysts also recently issued reports on the stock. Barclays lowered their price objective on shares of 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. Piper Sandler decreased their target price on shares of Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. JPMorgan Chase & Co. raised their target price on shares of Reinsurance Group of America from $227.00 to $232.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Wells Fargo & Company raised their target price on shares of Reinsurance Group of America from $263.00 to $264.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Finally, Morgan Stanley decreased their target price on shares of Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating for the company in a research note on Friday, February 14th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Reinsurance Group of America presently has a consensus rating of “Moderate Buy” and an average price target of $231.85.

Reinsurance Group of America Price Performance

NYSE RGA opened at $191.98 on Thursday. The company has a quick ratio of 0.17, a current ratio of 0.15 and a debt-to-equity ratio of 0.46. Reinsurance Group of America has a 12-month low of $178.84 and a 12-month high of $233.81. The company has a market capitalization of $12.68 billion, a PE ratio of 17.88 and a beta of 0.91. The firm’s 50 day moving average is $209.88 and its 200-day moving average is $214.98.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Thursday, February 6th. The insurance provider reported $4.99 earnings per share (EPS) 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 14.55%. Equities research analysts anticipate that Reinsurance Group of America will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were given a $0.89 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.85%. Reinsurance Group of America’s payout ratio is presently 33.15%.

Institutional Investors Weigh In On Reinsurance Group of America

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Reinsurance Group of America by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 7,213,971 shares of the insurance provider’s stock valued at $1,541,121,000 after acquiring an additional 51,733 shares during the period. FMR LLC boosted its position in shares of Reinsurance Group of America by 11.1% in the fourth quarter. FMR LLC now owns 5,640,788 shares of the insurance provider’s stock valued at $1,205,042,000 after acquiring an additional 564,693 shares during the period. WCM Investment Management LLC boosted its position in shares of Reinsurance Group of America by 1.4% in the fourth quarter. WCM Investment Management LLC now owns 2,480,750 shares of the insurance provider’s stock valued at $526,911,000 after acquiring an additional 33,082 shares during the period. Alliancebernstein L.P. boosted its position in shares of Reinsurance Group of America by 389.4% in the fourth quarter. Alliancebernstein L.P. now owns 1,123,022 shares of the insurance provider’s stock valued at $239,911,000 after acquiring an additional 893,537 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Reinsurance Group of America by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 1,113,872 shares of the insurance provider’s stock valued at $238,031,000 after acquiring an additional 4,106 shares during the period. Institutional investors own 95.11% of the company’s stock.

About Reinsurance Group of America

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.