Reinsurance Group of America (NYSE:RGA) Price Target Raised to $164.00

Reinsurance Group of America (NYSE:RGA) had its price target upped by Morgan Stanley from $162.00 to $164.00 in a research note released on Friday, Benzinga reports. The firm currently has an equal weight rating on the insurance provider’s stock.

Several other equities research analysts have also weighed in on RGA. Jefferies Financial Group dropped their price target on Reinsurance Group of America from $160.00 to $159.00 and set a hold rating on the stock in a research report on Thursday, September 14th. JPMorgan Chase & Co. upped their price objective on Reinsurance Group of America from $168.00 to $170.00 and gave the company a neutral rating in a research report on Friday, October 6th. Wells Fargo & Company boosted their price target on Reinsurance Group of America from $168.00 to $169.00 and gave the company an overweight rating in a report on Tuesday, August 15th. Citigroup dropped their price objective on Reinsurance Group of America from $170.00 to $162.00 and set a buy rating for the company in a research note on Wednesday, August 9th. Finally, StockNews.com cut Reinsurance Group of America from a buy rating to a hold rating in a report on Monday, October 30th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $165.36.

Reinsurance Group of America Stock Up 2.2 %

Shares of NYSE RGA opened at $152.00 on Friday. The business has a 50-day simple moving average of $145.08 and a two-hundred day simple moving average of $143.26. Reinsurance Group of America has a 52 week low of $120.99 and a 52 week high of $157.69. The company has a market cap of $10.06 billion, a P/E ratio of 10.80 and a beta of 0.86. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.61.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Friday, August 4th. The insurance provider reported $4.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.12 by $0.28. The business had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.30 billion. Reinsurance Group of America had a return on equity of 20.35% and a net margin of 5.61%. Reinsurance Group of America’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the company earned $5.78 EPS. Research analysts anticipate that Reinsurance Group of America will post 18.15 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Investors of record on Tuesday, November 14th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Monday, November 13th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 24.15%.

Hedge Funds Weigh In On Reinsurance Group of America

Several hedge funds have recently made changes to their positions in the company. Moneta Group Investment Advisors LLC grew its holdings in shares of Reinsurance Group of America by 129,207.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 12,117,433 shares of the insurance provider’s stock worth $1,721,766,000 after buying an additional 12,108,062 shares during the last quarter. State Street Corp lifted its position in shares of Reinsurance Group of America by 4.7% during the 1st quarter. State Street Corp now owns 2,411,086 shares of the insurance provider’s stock valued at $263,917,000 after acquiring an additional 108,922 shares during the period. Earnest Partners LLC raised its position in shares of Reinsurance Group of America by 0.5% during the 2nd quarter. Earnest Partners LLC now owns 2,309,031 shares of the insurance provider’s stock worth $320,240,000 after purchasing an additional 10,739 shares during the last quarter. Bank of America Corp DE raised its position in shares of Reinsurance Group of America by 5.0% during the 1st quarter. Bank of America Corp DE now owns 1,543,731 shares of the insurance provider’s stock worth $204,946,000 after purchasing an additional 74,110 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in shares of Reinsurance Group of America by 14.9% during the 1st quarter. Rockefeller Capital Management L.P. now owns 1,365,650 shares of the insurance provider’s stock worth $181,302,000 after purchasing an additional 176,751 shares during the last quarter. Hedge funds and other institutional investors own 93.78% 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.