Reinsurance Group of America (NYSE:RGA) Price Target Raised to $210.00 at Morgan Stanley

Reinsurance Group of America (NYSE:RGA) had its target price increased by Morgan Stanley from $209.00 to $210.00 in a research note published on Monday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the insurance provider’s stock.

Other research analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods increased their price target on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the company an “outperform” rating in a report on Wednesday, May 7th. UBS Group reaffirmed a “neutral” rating and issued a $216.00 price target (down previously from $250.00) on shares of Reinsurance Group of America in a report on Wednesday, April 2nd. Wells Fargo & Company reissued an “overweight” rating and issued a $249.00 price objective (up previously from $248.00) on shares of Reinsurance Group of America in a research note on Thursday, July 10th. Raymond James Financial reissued a “market perform” rating on shares of Reinsurance Group of America in a research note on Friday, May 23rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Reinsurance Group of America from $237.00 to $264.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $245.00.

Reinsurance Group of America Stock Up 1.3%

Shares of NYSE:RGA opened at $196.98 on Monday. The stock’s 50-day moving average price is $200.46 and its 200-day moving average price is $200.86. Reinsurance Group of America has a 12-month low of $159.25 and a 12-month high of $233.81. The stock has a market capitalization of $13.02 billion, a P/E ratio of 16.62 and a beta of 0.62. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.50.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Thursday, May 1st. The insurance provider reported $5.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.33 by $0.33. The firm had revenue of $5.26 billion during the quarter, compared to analyst estimates of $5.74 billion. Reinsurance Group of America had a net margin of 3.77% and a return on equity of 13.69%. The business’s revenue was down 17.0% on a year-over-year basis. During the same period last year, the business earned $6.02 earnings per share. On average, equities analysts anticipate that Reinsurance Group of America will post 22.9 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.89 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $3.56 annualized dividend and a yield of 1.81%. Reinsurance Group of America’s payout ratio is 30.04%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Cordatus Wealth Management LLC lifted its position in shares of Reinsurance Group of America by 3.1% in the first quarter. Cordatus Wealth Management LLC now owns 1,681 shares of the insurance provider’s stock worth $331,000 after purchasing an additional 50 shares in the last quarter. Journey Strategic Wealth LLC raised its position in Reinsurance Group of America by 4.9% during the first quarter. Journey Strategic Wealth LLC now owns 1,204 shares of the insurance provider’s stock valued at $237,000 after acquiring an additional 56 shares in the last quarter. Colonial Trust Co SC raised its position in Reinsurance Group of America by 72.2% during the fourth quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 57 shares in the last quarter. Geneos Wealth Management Inc. raised its position in Reinsurance Group of America by 17.6% during the first quarter. Geneos Wealth Management Inc. now owns 388 shares of the insurance provider’s stock valued at $76,000 after acquiring an additional 58 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in Reinsurance Group of America by 0.4% during the first quarter. Oregon Public Employees Retirement Fund now owns 13,454 shares of the insurance provider’s stock valued at $2,649,000 after acquiring an additional 60 shares in the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.

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.