Reinsurance Group of America (NYSE:RGA) Given New $220.00 Price Target at Keefe, Bruyette & Woods

Reinsurance Group of America (NYSE:RGA) had its price target raised by Keefe, Bruyette & Woods from $200.00 to $220.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an outperform rating on the insurance provider’s stock.

Other equities analysts also recently issued reports about the stock. Wells Fargo & Company upped their target price on shares of Reinsurance Group of America from $186.00 to $193.00 and gave the stock an overweight rating in a research note on Tuesday, February 6th. UBS Group upped their target price on shares of Reinsurance Group of America from $191.00 to $198.00 and gave the stock a buy rating in a research note on Monday, February 5th. Royal Bank of Canada increased their price objective on shares of Reinsurance Group of America from $170.00 to $185.00 and gave the company an outperform rating in a research note on Monday, February 5th. Piper Sandler increased their price objective on shares of Reinsurance Group of America from $195.00 to $220.00 and gave the company an overweight rating in a research note on Friday, April 5th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Reinsurance Group of America from $170.00 to $189.00 and gave the company a neutral rating in a research note on Tuesday, April 2nd. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Reinsurance Group of America presently has an average rating of Moderate Buy and an average price target of $187.75.

Reinsurance Group of America Stock Performance

Shares of NYSE:RGA opened at $189.96 on Wednesday. The company has a market capitalization of $12.49 billion, a price-to-earnings ratio of 14.14 and a beta of 0.89. Reinsurance Group of America has a 12 month low of $133.13 and a 12 month high of $196.25. The firm’s 50-day moving average is $180.29 and its 200 day moving average is $165.98. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.48.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Friday, February 2nd. The insurance provider reported $4.73 EPS for the quarter, topping analysts’ consensus estimates of $4.40 by $0.33. The business had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.57 billion. Reinsurance Group of America had a net margin of 4.86% and a return on equity of 16.20%. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.99 EPS. Research analysts predict that Reinsurance Group of America will post 19.38 EPS for the current year.

Reinsurance Group of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Monday, February 12th. This represents a $3.40 dividend on an annualized basis and a yield of 1.79%. Reinsurance Group of America’s payout ratio is 25.32%.

Insider Activity at Reinsurance Group of America

In related news, CFO Todd C. Larson sold 2,966 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $182.88, for a total transaction of $542,422.08. Following the completion of the sale, the chief financial officer now owns 49,549 shares of the company’s stock, valued at $9,061,521.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Reinsurance Group of America news, CFO Todd C. Larson sold 2,966 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $182.88, for a total value of $542,422.08. Following the completion of the transaction, the chief financial officer now owns 49,549 shares of the company’s stock, valued at $9,061,521.12. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP William L. Hutton sold 1,908 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $181.84, for a total transaction of $346,950.72. Following the completion of the transaction, the executive vice president now directly owns 13,363 shares of the company’s stock, valued at approximately $2,429,927.92. The disclosure for this sale can be found here. Insiders sold 6,462 shares of company stock valued at $1,162,239 over the last 90 days. Insiders own 1.55% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Moneta Group Investment Advisors LLC raised 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 purchasing an additional 12,108,062 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Reinsurance Group of America by 1.5% during the third quarter. Vanguard Group Inc. now owns 7,350,810 shares of the insurance provider’s stock worth $1,067,264,000 after purchasing an additional 110,877 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Reinsurance Group of America by 7.3% during the third quarter. American Century Companies Inc. now owns 2,605,471 shares of the insurance provider’s stock worth $378,288,000 after purchasing an additional 177,299 shares during the last quarter. State Street Corp raised its holdings in shares of Reinsurance Group of America by 4.7% during the first quarter. State Street Corp now owns 2,411,086 shares of the insurance provider’s stock worth $263,917,000 after purchasing an additional 108,922 shares during the last quarter. Finally, Earnest Partners LLC grew its position in Reinsurance Group of America by 2.7% during the third quarter. Earnest Partners LLC now owns 2,371,076 shares of the insurance provider’s stock valued at $344,257,000 after buying an additional 62,045 shares during the period. 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.