Reinsurance Group of America (NYSE:RGA) Price Target Raised to $235.00 at Keefe, Bruyette & Woods

Reinsurance Group of America (NYSE:RGA) had its price target increased by Keefe, Bruyette & Woods from $220.00 to $235.00 in a report released on Tuesday, Benzinga reports. They currently have an outperform rating on the insurance provider’s stock.

Other equities research analysts have also recently issued research reports about the stock. Piper Sandler upped their price objective on shares of Reinsurance Group of America from $195.00 to $220.00 and gave the company an overweight rating in a research note on Friday, April 5th. Evercore ISI upped their price target on shares of 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. UBS Group raised their price objective on 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. JPMorgan Chase & Co. increased their target price on Reinsurance Group of America from $189.00 to $195.00 and gave the company a neutral rating in a report on Friday, May 3rd. Finally, Morgan Stanley raised their price target on Reinsurance Group of America from $178.00 to $185.00 and gave the stock an equal weight rating in a research report on Monday, April 15th. Two investment 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 company. According to data from MarketBeat, Reinsurance Group of America has a consensus rating of Moderate Buy and a consensus target price of $196.00.

Reinsurance Group of America Price Performance

NYSE:RGA opened at $203.32 on Tuesday. Reinsurance Group of America has a 52-week low of $135.07 and a 52-week high of $205.59. The stock has a fifty day moving average of $187.73 and a 200 day moving average of $171.82. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.17 and a current ratio of 0.19. The firm has a market capitalization of $13.38 billion, a price-to-earnings ratio of 15.80 and a beta of 0.88.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Friday, May 3rd. The insurance provider reported $6.02 earnings per share for the quarter, beating analysts’ consensus estimates of $4.55 by $1.47. Reinsurance Group of America had a net margin of 4.16% and a return on equity of 15.94%. The business had revenue of $6.34 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same period last year, the firm posted $5.16 earnings per share. On average, research analysts expect that Reinsurance Group of America will post 19.41 EPS 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, May 28th. Shareholders of record on Tuesday, May 14th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.67%. Reinsurance Group of America’s dividend payout ratio is currently 26.42%.

Insider Transactions at Reinsurance Group of America

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,908 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $181.84, for a total value of $346,950.72. Following the completion of the transaction, the executive vice president now directly owns 13,363 shares in the company, valued at $2,429,927.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Reinsurance Group of America news, EVP William L. Hutton sold 1,588 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $2,341,183.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP William L. Hutton sold 1,908 shares of Reinsurance Group of America stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $181.84, for a total transaction of $346,950.72. Following the completion of the sale, the executive vice president now owns 13,363 shares in the company, valued at $2,429,927.92. The disclosure for this sale can be found here. Insiders have sold 6,462 shares of company stock valued at $1,162,239 over the last quarter. 1.37% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RGA. Louisiana State Employees Retirement System bought a new position in Reinsurance Group of America during the fourth quarter valued at $2,993,000. Picton Mahoney Asset Management lifted its stake in Reinsurance Group of America by 121.9% in the third quarter. Picton Mahoney Asset Management now owns 122,552 shares of the insurance provider’s stock worth $17,794,000 after purchasing an additional 67,318 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Reinsurance Group of America by 16,078.1% during the fourth quarter. International Assets Investment Management LLC now owns 22,164 shares of the insurance provider’s stock valued at $3,586,000 after buying an additional 22,027 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Reinsurance Group of America by 13.0% in the fourth quarter. Raymond James & Associates now owns 244,771 shares of the insurance provider’s stock worth $39,599,000 after buying an additional 28,193 shares during the period. Finally, Teachers Retirement System of The State of Kentucky grew its position in Reinsurance Group of America by 93.8% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 22,655 shares of the insurance provider’s stock valued at $3,289,000 after acquiring an additional 10,968 shares during the last quarter. Institutional investors 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.