Reinsurance Group of America (NYSE:RGA) Price Target Raised to $292.00

Reinsurance Group of America (NYSE:RGA) had its price objective upped by Wells Fargo & Company from $291.00 to $292.00 in a research report released on Monday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the insurance provider’s stock.

Other analysts have also recently issued research reports about the stock. Barclays set a $292.00 price objective on shares of Reinsurance Group of America in a research report on Thursday, October 8th. JPMorgan Chase & Co. raised their price objective 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. UBS Group upgraded Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. Morgan Stanley upgraded Reinsurance Group of America from an “equal weight” rating to an “overweight” rating and set a $295.00 target price on the stock in a report on Monday, September 28th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Reinsurance Group of America in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $267.89.

Reinsurance Group of America Stock Up 1.0%

Shares of NYSE RGA opened at $260.87 on Monday. Reinsurance Group of America has a 52-week low of $178.21 and a 52-week high of $263.65. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.14 and a current ratio of 0.14. The stock has a market cap of $17.03 billion, a P/E ratio of 8.62 and a beta of 0.45. The firm has a 50 day moving average price of $248.35 and a 200 day moving average price of $227.09.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, August 6th. The insurance provider reported $8.89 earnings per share for the quarter, topping the consensus estimate of $6.50 by $2.39. The company had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.67 billion. Reinsurance Group of America had a net margin of 5.81% and a return on equity of 14.78%. The business’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period last year, the business posted $4.72 earnings per share. Analysts expect that Reinsurance Group of America will post 29.71 EPS for the current year.

Reinsurance Group of America Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th were given a $0.98 dividend. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $3.92 dividend on an annualized basis and a yield of 1.5%. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.93. Reinsurance Group of America’s payout ratio is 17.22%.

Insider Buying and Selling

In other Reinsurance Group of America news, EVP Jonathan Porter sold 8,589 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $246.30, for a total transaction of $2,115,470.70. Following the completion of the transaction, the executive vice president owned 14,885 shares of the company’s stock, valued at $3,666,175.50. This represents a 36.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.60% of the company’s stock.

Institutional Trading of Reinsurance Group of America

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mather Group LLC. increased its holdings in Reinsurance Group of America by 8.5% during the third quarter. Mather Group LLC. now owns 1,248 shares of the insurance provider’s stock worth $307,000 after buying an additional 98 shares during the last quarter. Fortitude Family Office LLC lifted its stake in Reinsurance Group of America by 62.7% in the third quarter. Fortitude Family Office LLC now owns 249 shares of the insurance provider’s stock valued at $61,000 after acquiring an additional 96 shares during the last quarter. Copeland Capital Management LLC acquired a new stake in Reinsurance Group of America in the third quarter valued at $489,000. Krilogy Financial LLC grew its position in shares of Reinsurance Group of America by 9.0% in the 3rd quarter. Krilogy Financial LLC now owns 2,871 shares of the insurance provider’s stock valued at $746,000 after acquiring an additional 236 shares during the period. Finally, NorthCrest Asset Manangement LLC grew its position in shares of Reinsurance Group of America by 41.8% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 4,068 shares of the insurance provider’s stock valued at $1,041,000 after acquiring an additional 1,200 shares during the period. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Reinsurance Group of America Company Profile

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.