Reinsurance Group of America (NYSE:RGA) Given New $64.00 Price Target at Jefferies Financial Group

Reinsurance Group of America (NYSE:RGAFree Report) had its price objective raised by Jefferies Financial Group from $63.00 to $64.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

Several other research firms also recently issued reports on RGA. Raymond James upped their price objective on Reinsurance Group of America from $212.00 to $228.00 and gave the stock a strong-buy rating in a report on Friday, June 14th. Piper Sandler upped their price objective on Reinsurance Group of America from $228.00 to $235.00 and gave the stock an overweight rating in a report on Friday, June 28th. UBS Group upped their target price on shares of Reinsurance Group of America from $223.00 to $240.00 and gave the company a buy rating in a research report on Thursday, May 30th. Keefe, Bruyette & Woods upped their target price on shares of Reinsurance Group of America from $220.00 to $235.00 and gave the company an outperform rating in a research report on Tuesday, May 7th. Finally, Morgan Stanley upped their target price on shares of Reinsurance Group of America from $216.00 to $217.00 and gave the company an equal weight rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Reinsurance Group of America presently has an average rating of Moderate Buy and a consensus target price of $207.45.

Read Our Latest Analysis on RGA

Reinsurance Group of America Stock Up 1.7 %

Shares of RGA opened at $210.82 on Wednesday. The business’s 50 day simple moving average is $206.20 and its 200-day simple moving average is $187.35. Reinsurance Group of America has a one year low of $135.07 and a one year high of $213.21. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.19 and a quick ratio of 0.19. The company has a market capitalization of $13.87 billion, a P/E ratio of 16.38 and a beta of 0.92.

Reinsurance Group of America (NYSE:RGAGet Free Report) last posted its quarterly earnings data on Friday, May 3rd. The insurance provider reported $6.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.55 by $1.47. Reinsurance Group of America had a return on equity of 15.94% and a net margin of 4.16%. The firm had revenue of $6.34 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter in the prior year, the business earned $5.16 EPS. As a group, sell-side analysts predict that Reinsurance Group of America will post 20.94 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Monday, May 13th. Reinsurance Group of America’s dividend payout ratio is currently 26.42%.

Insider Activity at Reinsurance Group of America

In related news, EVP John W. Hayden sold 1,767 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $206.85, for a total value of $365,503.95. Following the completion of the sale, the executive vice president now owns 16,490 shares in the company, valued at approximately $3,410,956.50. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.37% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Reinsurance Group of America

Large investors have recently added to or reduced their stakes in the company. Lindbrook Capital LLC increased its holdings in Reinsurance Group of America by 129.9% during the 4th quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 87 shares in the last quarter. Pineridge Advisors LLC bought a new position in Reinsurance Group of America during the 4th quarter worth about $26,000. New Covenant Trust Company N.A. bought a new position in Reinsurance Group of America during the 1st quarter worth about $28,000. Rise Advisors LLC bought a new position in Reinsurance Group of America during the 1st quarter worth about $29,000. Finally, VisionPoint Advisory Group LLC increased its holdings in Reinsurance Group of America by 116.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 212 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 114 shares in the last quarter. Institutional investors own 95.11% of the company’s stock.

About Reinsurance Group of America

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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.

Further Reading

Analyst Recommendations for Reinsurance Group of America (NYSE:RGA)

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