Reinsurance Group of America (NYSE:RGA) Price Target Lowered to $241.00 at Wells Fargo & Company

Reinsurance Group of America (NYSE:RGA) had its price objective lowered by Wells Fargo & Company from $249.00 to $241.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the insurance provider’s stock.

Several other research analysts have also weighed in on RGA. Morgan Stanley upped their price objective on shares of Reinsurance Group of America from $209.00 to $210.00 and gave the company an “equal weight” rating in a research note on Monday, July 14th. Raymond James Financial reiterated a “market perform” rating on shares of Reinsurance Group of America in a research note on Friday, May 23rd. Keefe, Bruyette & Woods upped their price objective on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Finally, JPMorgan Chase & Co. increased their price target 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 equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $243.64.

Reinsurance Group of America Stock Down 0.3%

RGA stock opened at $176.77 on Monday. Reinsurance Group of America has a 12 month low of $159.25 and a 12 month high of $233.81. The firm has a market cap of $11.68 billion, a PE ratio of 15.34 and a beta of 0.61. The firm has a 50 day simple moving average of $196.78 and a 200 day simple moving average of $198.06. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.16 and a quick ratio of 0.16.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results on Thursday, July 31st. The insurance provider reported $4.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.58 by ($0.86). Reinsurance Group of America had a net margin of 3.54% and a return on equity of 12.56%. The firm had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the prior year, the firm earned $5.48 EPS. The firm’s revenue was up 14.8% compared to the same quarter last year. Equities research analysts forecast that Reinsurance Group of America will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th will be given a dividend of $0.93 per share. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.89. The ex-dividend date is Tuesday, August 12th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.1%. Reinsurance Group of America’s dividend payout ratio is 32.29%.

Institutional Investors Weigh In On Reinsurance Group of America

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. National Bank of Canada FI boosted its stake in shares of Reinsurance Group of America by 10,415.8% in the 4th quarter. National Bank of Canada FI now owns 29,339 shares of the insurance provider’s stock valued at $6,273,000 after purchasing an additional 29,060 shares during the last quarter. World Investment Advisors boosted its stake in shares of Reinsurance Group of America by 10.0% in the 4th quarter. World Investment Advisors now owns 2,751 shares of the insurance provider’s stock valued at $588,000 after purchasing an additional 251 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Reinsurance Group of America by 5.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 493,596 shares of the insurance provider’s stock valued at $105,447,000 after purchasing an additional 26,151 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Reinsurance Group of America by 16.7% in the 4th quarter. Russell Investments Group Ltd. now owns 272,742 shares of the insurance provider’s stock valued at $58,266,000 after purchasing an additional 39,095 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of Reinsurance Group of America by 4.3% in the 4th quarter. Federated Hermes Inc. now owns 449,638 shares of the insurance provider’s stock valued at $96,056,000 after purchasing an additional 18,412 shares during the last quarter. Institutional investors and hedge funds own 95.11% 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.