Morgan Stanley Raises Reinsurance Group of America (NYSE:RGA) Price Target to $185.00

Reinsurance Group of America (NYSE:RGA) had its price target boosted by Morgan Stanley from $178.00 to $185.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an equal weight rating on the insurance provider’s stock.

RGA has been the subject of a number of other research reports. Royal Bank of Canada reaffirmed an outperform rating and issued a $212.00 price target on shares of Reinsurance Group of America in a report on Friday. JPMorgan Chase & Co. raised their price target on shares of Reinsurance Group of America from $170.00 to $189.00 and gave the stock a neutral rating in a report on Tuesday, April 2nd. Piper Sandler raised their price target on shares of Reinsurance Group of America from $195.00 to $220.00 and gave the stock an overweight rating in a report on Friday, April 5th. Wells Fargo & Company raised their price target on shares of Reinsurance Group of America from $193.00 to $210.00 and gave the stock an overweight rating in a report on Thursday, April 11th. Finally, Evercore ISI raised their price target on shares of Reinsurance Group of America from $200.00 to $215.00 and gave the stock an outperform rating in a report on Thursday, April 11th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $194.38.

Reinsurance Group of America Trading Down 1.5 %

NYSE:RGA opened at $181.69 on Monday. Reinsurance Group of America has a 52 week low of $133.13 and a 52 week high of $196.25. The firm has a 50 day moving average of $181.17 and a 200 day moving average of $166.89. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $11.95 billion, a price-to-earnings ratio of 13.53 and a beta of 0.89.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Friday, February 2nd. The insurance provider reported $4.73 EPS for the quarter, beating analysts’ consensus estimates of $4.40 by $0.33. Reinsurance Group of America had a net margin of 4.86% and a return on equity of 16.20%. The company had revenue of $5.01 billion during the quarter, compared to analysts’ expectations of $4.57 billion. During the same quarter in the prior year, the company posted $2.99 earnings per share. Reinsurance Group of America’s revenue for the quarter was up 14.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Reinsurance Group of America will post 19.46 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 13th were paid a $0.85 dividend. The ex-dividend date was Monday, February 12th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.87%. Reinsurance Group of America’s payout ratio is currently 25.32%.

Insider Activity at Reinsurance Group of America

In related news, EVP William L. Hutton sold 1,908 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $181.84, for a total transaction of $346,950.72. Following the sale, the executive vice president now owns 13,363 shares in the company, valued at $2,429,927.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP William L. Hutton sold 1,588 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $171.83, for a total transaction of $272,866.04. Following the sale, the executive vice president now owns 13,625 shares in the company, valued at $2,341,183.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP William L. Hutton sold 1,908 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $181.84, for a total transaction of $346,950.72. Following the sale, the executive vice president now owns 13,363 shares in the company, valued at approximately $2,429,927.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,462 shares of company stock worth $1,162,239. 1.55% of the stock is owned by company insiders.

Institutional Trading of Reinsurance Group of America

Institutional investors have recently modified their holdings of the stock. Rise Advisors LLC acquired a new stake in shares of Reinsurance Group of America in the first quarter valued at about $29,000. Lindbrook Capital LLC grew its position in shares of Reinsurance Group of America by 129.9% in the fourth quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 87 shares during the period. Pineridge Advisors LLC acquired a new stake in shares of Reinsurance Group of America in the fourth quarter valued at about $26,000. VisionPoint Advisory Group LLC grew its position in shares of Reinsurance Group of America by 116.3% in the third quarter. VisionPoint Advisory Group LLC now owns 212 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 114 shares during the period. Finally, Toth Financial Advisory Corp grew its position in shares of Reinsurance Group of America by 41.2% in the fourth quarter. Toth Financial Advisory Corp now owns 240 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 70 shares during the period. Institutional investors and hedge funds 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.