Reinsurance Group of America (NYSE:RGA) Given New $223.00 Price Target at Morgan Stanley

Reinsurance Group of America (NYSE:RGA) had its target price increased by Morgan Stanley from $208.00 to $223.00 in a research report report published on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the insurance provider’s stock.

A number of other research firms also recently weighed in on RGA. Barclays set a $245.00 target price on Reinsurance Group of America and gave the company an “overweight” rating in a report on Friday, February 6th. Keefe, Bruyette & Woods dropped their price objective on shares of Reinsurance Group of America from $255.00 to $240.00 and set an “outperform” rating on the stock in a report 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 report on Friday, February 6th. Wells Fargo & Company increased their price target on shares of Reinsurance Group of America from $238.00 to $261.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. Finally, Wall Street Zen raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $247.75.

Reinsurance Group of America Stock Performance

RGA stock opened at $213.27 on Tuesday. The stock has a market capitalization of $13.98 billion, a PE ratio of 12.02 and a beta of 0.50. The stock’s 50 day simple moving average is $207.73 and its 200 day simple moving average is $197.52. Reinsurance Group of America has a 12-month low of $159.25 and a 12-month high of $229.21. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.42.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly 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. Reinsurance Group of America had a return on equity of 12.99% and a net margin of 4.99%.The firm had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.25 billion. During the same period in the prior year, the company posted $4.99 earnings per share. The company’s quarterly revenue was up 26.6% on a year-over-year basis. As a group, research 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th were issued a dividend of $0.93 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $3.72 dividend on an annualized basis and a yield of 1.7%. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 20.96%.

Hedge Funds Weigh In On Reinsurance Group of America

Hedge funds have recently made changes to their positions in the business. Millstone Evans Group LLC lifted its position in shares of Reinsurance Group of America by 82.4% in the 3rd quarter. Millstone Evans Group LLC now owns 135 shares of the insurance provider’s stock worth $26,000 after buying an additional 61 shares during the last quarter. Activest Wealth Management bought a new stake in shares of Reinsurance Group of America during the 4th quarter valued at about $30,000. Root Financial Partners LLC acquired a new stake in Reinsurance Group of America during the third quarter worth about $33,000. Tobam raised its stake in Reinsurance Group of America by 244.7% during the fourth quarter. Tobam now owns 162 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 115 shares during the period. Finally, International Assets Investment Management LLC bought a new position in Reinsurance Group of America in the fourth quarter worth about $35,000. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Company Profile

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.