Piper Sandler Cuts Reinsurance Group of America (NYSE:RGA) Price Target to $242.00

Reinsurance Group of America (NYSE:RGA) had its price objective cut by Piper Sandler from $252.00 to $242.00 in a research note released on Monday,Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

RGA has been the topic of a number of other research reports. JPMorgan Chase & Co. boosted their target price on Reinsurance Group of America from $227.00 to $232.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. StockNews.com raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Royal Bank of Canada raised their target price on Reinsurance Group of America from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Finally, Barclays cut their price target on Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Reinsurance Group of America currently has an average rating of “Moderate Buy” and an average price target of $228.31.

Reinsurance Group of America Trading Up 1.2 %

RGA opened at $198.95 on Monday. Reinsurance Group of America has a fifty-two week low of $165.38 and a fifty-two week high of $233.81. The firm has a market capitalization of $13.10 billion, a PE ratio of 18.52 and a beta of 0.93. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.17 and a quick ratio of 0.17. The company’s 50-day moving average is $217.62 and its 200 day moving average is $217.10.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results on Thursday, February 6th. The insurance provider reported $4.99 EPS for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.23). Reinsurance Group of America had a net margin of 3.24% and a return on equity of 14.80%. As a group, research analysts predict that Reinsurance Group of America will post 23.14 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $3.56 dividend on an annualized basis and a yield of 1.79%. Reinsurance Group of America’s payout ratio is 33.15%.

Hedge Funds Weigh In On Reinsurance Group of America

Several institutional investors have recently modified their holdings of the company. Resonant Capital Advisors LLC raised its stake in shares of Reinsurance Group of America by 1.2% during the third quarter. Resonant Capital Advisors LLC now owns 4,368 shares of the insurance provider’s stock worth $952,000 after acquiring an additional 53 shares in the last quarter. Spire Wealth Management grew its stake in shares of Reinsurance Group of America by 39.0% during the fourth quarter. Spire Wealth Management now owns 203 shares of the insurance provider’s stock valued at $43,000 after buying an additional 57 shares during the last quarter. Keybank National Association OH lifted its stake in shares of Reinsurance Group of America by 2.6% in the 4th quarter. Keybank National Association OH now owns 2,342 shares of the insurance provider’s stock valued at $500,000 after acquiring an additional 59 shares during the last quarter. Baron Wealth Management LLC boosted its holdings in Reinsurance Group of America by 4.5% during the 3rd quarter. Baron Wealth Management LLC now owns 1,485 shares of the insurance provider’s stock valued at $324,000 after acquiring an additional 64 shares during the period. Finally, Tectonic Advisors LLC grew its position in Reinsurance Group of America by 3.0% during the 3rd quarter. Tectonic Advisors LLC now owns 2,358 shares of the insurance provider’s stock worth $514,000 after acquiring an additional 69 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.