Morgan Stanley Issues Positive Forecast for Reinsurance Group of America (NYSE:RGA) Stock Price

Reinsurance Group of America (NYSE:RGA) had its price target upped by Morgan Stanley from $195.00 to $209.00 in a research note published on Monday morning,Benzinga reports. They currently have an equal weight rating on the insurance provider’s stock.

A number of other research firms also recently commented on RGA. UBS Group reissued a “neutral” rating and issued a $216.00 price objective (down previously from $250.00) on shares of Reinsurance Group of America in a research note on Wednesday, April 2nd. Piper Sandler dropped their price objective on Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Wells Fargo & Company boosted their price objective on Reinsurance Group of America from $246.00 to $248.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. Evercore ISI cut their target price on Reinsurance Group of America from $280.00 to $270.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $245.00 target price on shares of Reinsurance Group of America in a research report on Monday, February 10th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $228.85.

Reinsurance Group of America Stock Down 2.1%

RGA opened at $203.83 on Monday. Reinsurance Group of America has a one year low of $159.25 and a one year high of $233.81. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.17 and a current ratio of 0.15. The stock’s fifty day moving average is $191.85 and its 200-day moving average is $206.69. The company has a market capitalization of $13.47 billion, a PE ratio of 18.98 and a beta of 0.57.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Thursday, May 1st. The insurance provider reported $5.66 EPS for the quarter, topping analysts’ consensus estimates of $5.33 by $0.33. Reinsurance Group of America had a return on equity of 14.55% and a net margin of 3.24%. The company had revenue of $5.26 billion for the quarter, compared to the consensus estimate of $5.74 billion. During the same quarter in the previous year, the business earned $6.02 EPS. The company’s quarterly revenue was down 17.0% compared to the same quarter last year. On average, equities analysts predict that Reinsurance Group of America will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Tuesday, May 13th. Reinsurance Group of America’s payout ratio is 30.04%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Cordatus Wealth Management LLC raised its position in Reinsurance Group of America by 3.1% during the first quarter. Cordatus Wealth Management LLC now owns 1,681 shares of the insurance provider’s stock valued at $331,000 after buying an additional 50 shares during the period. Journey Strategic Wealth LLC raised its position in Reinsurance Group of America by 4.9% during the first quarter. Journey Strategic Wealth LLC now owns 1,204 shares of the insurance provider’s stock valued at $237,000 after buying an additional 56 shares during the period. Spire Wealth Management raised its position in 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 period. Colonial Trust Co SC increased its position in Reinsurance Group of America by 72.2% in the 4th quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 57 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its position in Reinsurance Group of America by 17.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 388 shares of the insurance provider’s stock worth $76,000 after purchasing an additional 58 shares during the last quarter. 95.11% of the stock is owned by institutional investors and hedge funds.

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.