Reinsurance Group of America, Incorporated (NYSE:RGA) Stock Has Consensus Target Price of $267.56 According to Brokerages

Reinsurance Group of America, Incorporated (NYSE:RGA) has been assigned a consensus rating of “Moderate Buy” from the eleven ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $267.56.

A number of brokerages have recently issued reports on RGA. Barclays boosted their target price on Reinsurance Group of America from $278.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. UBS Group upgraded Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 24th. JPMorgan Chase & Co. lifted their price target on Reinsurance Group of America from $286.00 to $293.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. TD Cowen boosted their price objective on Reinsurance Group of America from $212.00 to $235.00 and gave the stock a “hold” rating in a report on Wednesday, July 22nd. Finally, Wells Fargo & Company upped their price objective on shares of Reinsurance Group of America from $269.00 to $291.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th.

Reinsurance Group of America Price Performance

NYSE RGA opened at $249.53 on Thursday. The stock has a market capitalization of $16.29 billion, a P/E ratio of 10.96 and a beta of 0.45. Reinsurance Group of America has a 1 year low of $178.21 and a 1 year high of $257.81. The business’s fifty day moving average is $245.53 and its two-hundred day moving average is $223.95. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.14 and a current ratio of 0.14.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings data on Thursday, August 6th. The insurance provider reported $8.89 EPS for the quarter, beating analysts’ consensus estimates of $6.50 by $2.39. The company had revenue of $6.64 billion during the quarter, compared to the consensus estimate of $6.67 billion. Reinsurance Group of America had a return on equity of 14.78% and a net margin of 5.81%.The company’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.72 EPS. On average, research analysts forecast that Reinsurance Group of America will post 29.71 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th were given a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 1.6%. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Tuesday, August 18th. Reinsurance Group of America’s payout ratio is 17.22%.

Insider Activity

In related news, EVP Jonathan Porter sold 8,589 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $246.30, for a total value of $2,115,470.70. Following the completion of the sale, the executive vice president owned 14,885 shares in the company, valued at approximately $3,666,175.50. This represents a 36.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Reinsurance Group of America

Several institutional investors and hedge funds have recently added to or reduced their stakes in RGA. WCM Investment Management LLC raised its stake in Reinsurance Group of America by 3.0% during the 1st quarter. WCM Investment Management LLC now owns 2,830,620 shares of the insurance provider’s stock valued at $566,803,000 after purchasing an additional 82,681 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Reinsurance Group of America by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,114,998 shares of the insurance provider’s stock worth $227,624,000 after buying an additional 15,372 shares during the period. Norges Bank acquired a new stake in shares of Reinsurance Group of America in the fourth quarter worth $173,767,000. Sei Investments Co. grew its holdings in shares of Reinsurance Group of America by 1.0% during the first quarter. Sei Investments Co. now owns 837,391 shares of the insurance provider’s stock valued at $170,960,000 after buying an additional 8,221 shares in the last quarter. Finally, Polar Capital Holdings Plc grew its holdings in shares of Reinsurance Group of America by 0.3% during the fourth quarter. Polar Capital Holdings Plc now owns 578,425 shares of the insurance provider’s stock valued at $117,686,000 after buying an additional 1,834 shares in the last quarter. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated (NYSE:RGA) is a global provider of life and health reinsurance. The company helps insurance organizations manage mortality, longevity, morbidity and other insurance risks by assuming portions of their business and providing capital, risk-management expertise and specialized underwriting support.

RGA offers traditional reinsurance and financial solutions for individual life insurance, group life and health coverage, retirement and annuity products, long-term care and disability insurance.