Morgan Stanley Boosts Reinsurance Group of America (NYSE:RGA) Price Target to $185.00

Reinsurance Group of America (NYSE:RGA) had its price target upped by Morgan Stanley from $178.00 to $185.00 in a research report report published on Monday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the insurance provider’s stock.

A number of other equities research analysts have also weighed in on RGA. UBS Group lifted their target price on shares of Reinsurance Group of America from $198.00 to $223.00 and gave the company a buy rating in a research note on Wednesday, April 10th. Wells Fargo & Company raised their price objective on shares of Reinsurance Group of America from $193.00 to $210.00 and gave the stock an overweight rating in a report on Thursday, April 11th. JPMorgan Chase & Co. upped their target price on Reinsurance Group of America from $170.00 to $189.00 and gave the stock a neutral rating in a report on Tuesday, April 2nd. Royal Bank of Canada restated an outperform rating and issued a $212.00 target price on shares of Reinsurance Group of America in a research note on Friday, April 12th. Finally, Evercore ISI lifted their price target on Reinsurance Group of America from $200.00 to $215.00 and gave the company an outperform rating in a research report on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $194.38.

Reinsurance Group of America Trading Up 1.2 %

NYSE RGA opened at $182.40 on Monday. The stock has a market cap of $12.00 billion, a P/E ratio of 13.58 and a beta of 0.89. Reinsurance Group of America has a fifty-two week low of $133.13 and a fifty-two week high of $196.25. The stock has a 50 day simple moving average of $181.96 and a two-hundred day simple moving average of $167.34. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.17 and a current ratio of 0.17.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Friday, February 2nd. The insurance provider reported $4.73 EPS for the quarter, topping analysts’ consensus estimates of $4.40 by $0.33. The company had revenue of $5.01 billion during the quarter, compared to analyst estimates of $4.57 billion. Reinsurance Group of America had a return on equity of 16.20% and a net margin of 4.86%. The firm’s revenue was up 14.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.99 earnings per share. On average, analysts forecast that Reinsurance Group of America will post 19.41 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 13th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Monday, February 12th. This represents a $3.40 annualized dividend and a dividend yield of 1.86%. Reinsurance Group of America’s payout ratio is presently 25.32%.

Insider Buying and Selling

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,588 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $171.83, for a total transaction of $272,866.04. Following the completion of the sale, the executive vice president now directly owns 13,625 shares in the company, valued at approximately $2,341,183.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP William L. Hutton sold 1,588 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $171.83, for a total value of $272,866.04. Following the transaction, the executive vice president now directly owns 13,625 shares of the company’s stock, valued at approximately $2,341,183.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Todd C. Larson sold 2,966 shares of Reinsurance Group of America stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $182.88, for a total value of $542,422.08. Following the completion of the sale, the chief financial officer now directly owns 49,549 shares of the company’s stock, valued at approximately $9,061,521.12. The disclosure for this sale can be found here. Insiders have sold a total of 6,462 shares of company stock worth $1,162,239 in the last quarter. Corporate insiders own 1.31% of the company’s stock.

Institutional Investors Weigh In On Reinsurance Group of America

Large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its stake in shares of Reinsurance Group of America by 27.3% in the first quarter. JPMorgan Chase & Co. now owns 132,902 shares of the insurance provider’s stock worth $14,548,000 after acquiring an additional 28,536 shares during the period. Private Advisor Group LLC boosted its holdings in Reinsurance Group of America by 13.0% in the first quarter. Private Advisor Group LLC now owns 2,817 shares of the insurance provider’s stock worth $309,000 after purchasing an additional 324 shares during the last quarter. Great West Life Assurance Co. Can grew its position in Reinsurance Group of America by 11.6% in the 1st quarter. Great West Life Assurance Co. Can now owns 39,323 shares of the insurance provider’s stock worth $4,428,000 after purchasing an additional 4,073 shares during the period. Baird Financial Group Inc. raised its stake in Reinsurance Group of America by 20.9% during the 1st quarter. Baird Financial Group Inc. now owns 10,421 shares of the insurance provider’s stock valued at $1,141,000 after buying an additional 1,799 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in Reinsurance Group of America by 47.8% during the 1st quarter. Parkside Financial Bank & Trust now owns 368 shares of the insurance provider’s stock valued at $40,000 after buying an additional 119 shares during the last quarter. 95.11% of the stock is currently owned by institutional investors.

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.