Reinsurance Group of America (NYSE:RGA) Stock Rating Upgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Reinsurance Group of America (NYSE:RGA) from a neutral rating to an overweight rating in a research report released on Wednesday morning, MarketBeat reports. JPMorgan Chase & Co. currently has $237.00 target price on the insurance provider’s stock, up from their prior target price of $232.00.

RGA has been the topic of several other reports. Piper Sandler dropped 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 note on Monday, February 10th. Barclays reduced 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. Evercore ISI dropped their target price on shares of Reinsurance Group of America from $280.00 to $270.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $245.00 target price on shares of Reinsurance Group of America in a report on Monday, February 10th. Finally, Wells Fargo & Company lifted their price target on Reinsurance Group of America from $263.00 to $264.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Three 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $230.38.

Reinsurance Group of America Trading Up 0.8 %

NYSE:RGA opened at $199.89 on Wednesday. Reinsurance Group of America has a one year low of $178.84 and a one year high of $233.81. The company has a market cap of $13.20 billion, a PE ratio of 18.61 and a beta of 0.91. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.15 and a quick ratio of 0.17. The firm has a 50-day moving average of $203.41 and a 200-day moving average of $213.23.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, February 6th. The insurance provider reported $4.99 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%. As a group, equities research analysts expect that Reinsurance Group of America will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.78%. The ex-dividend date was Tuesday, February 18th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 33.15%.

Hedge Funds Weigh In On Reinsurance Group of America

Several large investors have recently modified their holdings of the business. MassMutual Private Wealth & Trust FSB boosted its holdings in Reinsurance Group of America by 2.7% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 3,122 shares of the insurance provider’s stock worth $615,000 after buying an additional 82 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Reinsurance Group of America by 27.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,355 shares of the insurance provider’s stock worth $1,358,000 after acquiring an additional 1,383 shares during the period. Park Square Financial Group LLC purchased a new position in shares of Reinsurance Group of America in the fourth quarter valued at $99,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Reinsurance Group of America during the 4th quarter valued at $18,796,000. Finally, Jefferies Financial Group Inc. lifted its holdings in Reinsurance Group of America by 54.2% during the 4th quarter. Jefferies Financial Group Inc. now owns 5,250 shares of the insurance provider’s stock worth $1,122,000 after purchasing an additional 1,845 shares in the last quarter. Hedge funds and other 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.