Wells Fargo & Company Issues Positive Forecast for Reinsurance Group of America (NYSE:RGA) Stock Price

Reinsurance Group of America (NYSE:RGA) had its target price raised by Wells Fargo & Company from $238.00 to $261.00 in a report published on Wednesday,Benzinga reports. The firm currently has an overweight rating on the insurance provider’s stock.

A number of other research analysts have also recently commented on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Reinsurance Group of America in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Keefe, Bruyette & Woods lowered their target price on Reinsurance Group of America from $255.00 to $240.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $263.00 target price on shares of Reinsurance Group of America in a research report on Friday, February 6th. Finally, TD Cowen reissued a “hold” rating on shares of Reinsurance Group of America in a report on Wednesday, January 28th. Seven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $245.88.

Reinsurance Group of America Trading Up 0.7%

Shares of RGA opened at $219.92 on Wednesday. Reinsurance Group of America has a 12 month low of $159.25 and a 12 month high of $229.21. The stock’s 50-day moving average is $206.84 and its two-hundred day moving average is $196.65. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.14 and a quick ratio of 0.13. The stock has a market cap of $14.42 billion, a PE ratio of 12.39 and a beta of 0.53.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, February 5th. The insurance provider reported $7.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.86 by $1.89. The business had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.25 billion. Reinsurance Group of America had a return on equity of 12.99% and a net margin of 4.99%.The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter last year, the firm earned $4.99 earnings per share. Equities analysts forecast that Reinsurance Group of America will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 3rd. Investors of record on Tuesday, February 17th will be paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Tuesday, February 17th. Reinsurance Group of America’s dividend payout ratio (DPR) is 20.96%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. WCM Investment Management LLC raised its position in shares of Reinsurance Group of America by 3.6% during the 3rd quarter. WCM Investment Management LLC now owns 2,734,458 shares of the insurance provider’s stock valued at $519,356,000 after acquiring an additional 94,479 shares in the last quarter. American Century Companies Inc. increased its stake in Reinsurance Group of America by 15.9% during the third quarter. American Century Companies Inc. now owns 2,369,057 shares of the insurance provider’s stock valued at $455,167,000 after purchasing an additional 324,239 shares during the last quarter. State Street Corp raised its holdings in shares of Reinsurance Group of America by 2.8% during the third quarter. State Street Corp now owns 2,346,447 shares of the insurance provider’s stock worth $450,823,000 after purchasing an additional 64,296 shares during the period. AQR Capital Management LLC lifted its position in shares of Reinsurance Group of America by 148.4% in the 4th quarter. AQR Capital Management LLC now owns 1,652,102 shares of the insurance provider’s stock worth $336,137,000 after buying an additional 987,014 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Reinsurance Group of America by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 1,341,364 shares of the insurance provider’s stock valued at $272,966,000 after buying an additional 12,682 shares during the period. Institutional investors own 95.11% of the company’s stock.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.