Reinsurance Group of America (NYSE:RGA) Price Target Raised to $264.00 at Wells Fargo & Company

Reinsurance Group of America (NYSE:RGA) had its target price increased by Wells Fargo & Company from $263.00 to $264.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has an overweight rating on the insurance provider’s stock.

RGA has been the subject of a number of other research reports. JPMorgan Chase & Co. upped their price objective on shares of Reinsurance Group of America from $227.00 to $232.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Barclays cut their price target on Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $245.00 price objective on shares of Reinsurance Group of America in a research report on Monday, February 10th. Piper Sandler lowered their price objective on Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Finally, Morgan Stanley reduced their target price on Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $229.62.

Reinsurance Group of America Stock Performance

Shares of NYSE RGA opened at $200.37 on Tuesday. Reinsurance Group of America has a 12 month low of $174.45 and a 12 month high of $233.81. The company has a market cap of $13.23 billion, a P/E ratio of 18.66 and a beta of 0.93. The business’s 50 day moving average is $214.36 and its two-hundred day moving average is $216.12. 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 (NYSE:RGA) last announced its earnings results 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 return on equity of 14.55% and a net margin of 3.24%. On average, equities analysts expect that Reinsurance Group of America will post 22.9 EPS for the current year.

Reinsurance Group of America Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.78%. Reinsurance Group of America’s payout ratio is presently 33.15%.

Institutional Investors Weigh In On Reinsurance Group of America

Several large investors have recently made changes to their positions in RGA. Spire Wealth Management lifted its holdings in Reinsurance Group of America by 39.0% during the 4th quarter. Spire Wealth Management now owns 203 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 57 shares during the last quarter. Colonial Trust Co SC increased its holdings in shares of Reinsurance Group of America by 72.2% during the fourth quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider’s stock worth $29,000 after buying an additional 57 shares in the last quarter. Keybank National Association OH increased its holdings in shares of Reinsurance Group of America by 2.6% during the fourth quarter. Keybank National Association OH now owns 2,342 shares of the insurance provider’s stock worth $500,000 after buying an additional 59 shares in the last quarter. Baron Wealth Management LLC raised its stake in shares of Reinsurance Group of America by 4.5% in the third quarter. Baron Wealth Management LLC now owns 1,485 shares of the insurance provider’s stock valued at $324,000 after acquiring an additional 64 shares during the last quarter. Finally, Mount Lucas Management LP boosted its holdings in shares of Reinsurance Group of America by 2.9% in the 3rd quarter. Mount Lucas Management LP now owns 2,592 shares of the insurance provider’s stock worth $565,000 after acquiring an additional 72 shares in the last quarter. 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.