Reinsurance Group of America (NYSE:RGA) Price Target Raised to $286.00 at JPMorgan Chase & Co.

Reinsurance Group of America (NYSE:RGA) had its price target boosted by JPMorgan Chase & Co. from $270.00 to $286.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the insurance provider’s stock.

Several other research analysts have also issued reports on the company. Evercore reaffirmed an “outperform” rating and set a $267.00 target price on shares of Reinsurance Group of America in a research report on Monday, May 18th. Piper Sandler dropped their price target on Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Wall Street Zen upgraded shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. UBS Group increased their price objective on shares of Reinsurance Group of America from $220.00 to $236.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Finally, Barclays lifted their target price on shares of Reinsurance Group of America from $268.00 to $278.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Seven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $257.50.

Reinsurance Group of America Price Performance

NYSE RGA opened at $238.97 on Tuesday. The firm’s fifty day simple moving average is $215.17 and its two-hundred day simple moving average is $210.18. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46. Reinsurance Group of America has a 12-month low of $165.52 and a 12-month high of $245.00. The firm has a market capitalization of $15.65 billion, a P/E ratio of 12.95 and a beta of 0.47.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, May 7th. The insurance provider reported $6.97 EPS for the quarter, beating the consensus estimate of $6.03 by $0.94. The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.47 billion. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.The business’s revenue for the quarter was up 23.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.66 EPS. Analysts forecast that Reinsurance Group of America will post 26.86 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th were issued a dividend of $0.93 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.6%. Reinsurance Group of America’s payout ratio is 20.15%.

Insider Buying and Selling

In related news, EVP John W. Hayden sold 414 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total value of $88,989.30. Following the sale, the executive vice president owned 20,949 shares in the company, valued at $4,502,987.55. This represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ronald Herrmann sold 7,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $210.58, for a total transaction of $1,474,060.00. Following the completion of the transaction, the executive vice president owned 3,938 shares in the company, valued at approximately $829,264.04. This trade represents a 64.00% decrease in their position. The SEC filing for this sale provides additional information. 0.60% of the stock is owned by corporate insiders.

Institutional Trading of Reinsurance Group of America

A number of hedge funds and other institutional investors have recently made changes to their positions in RGA. Activest Wealth Management acquired a new position in Reinsurance Group of America during the fourth quarter valued at $30,000. Tobam grew its position in Reinsurance Group of America by 244.7% during the 4th quarter. Tobam now owns 162 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 115 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Reinsurance Group of America during the 4th quarter valued at about $35,000. Entrust Financial LLC purchased a new position in shares of Reinsurance Group of America during the 4th quarter valued at about $40,000. Finally, Advisory Services Network LLC acquired a new position in shares of Reinsurance Group of America in the 3rd quarter valued at about $38,000. Institutional investors and hedge funds 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.