Brokerages Set Reinsurance Group of America, Incorporated (NYSE:RGA) PT at $257.11

Shares of Reinsurance Group of America, Incorporated (NYSE:RGA) have been assigned an average rating of “Moderate Buy” from the eleven ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $257.1111.

A number of research firms recently weighed in on RGA. UBS Group raised shares of Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Reinsurance Group of America in a research report on Friday, August 7th. Piper Sandler dropped their price objective on Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. JPMorgan Chase & Co. boosted their target price on Reinsurance Group of America from $286.00 to $293.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Finally, Barclays upped their target price on Reinsurance Group of America from $278.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th.

Reinsurance Group of America Stock Down 0.9%

RGA stock opened at $244.71 on Wednesday. The stock has a 50-day simple moving average of $228.86 and a two-hundred day simple moving average of $216.14. Reinsurance Group of America has a twelve month low of $178.21 and a twelve month high of $251.00. The firm has a market capitalization of $15.98 billion, a PE ratio of 10.75 and a beta of 0.47. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.41.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Thursday, August 6th. The insurance provider reported $8.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $2.39. Reinsurance Group of America had a net margin of 5.81% and a return on equity of 14.78%. The firm had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.67 billion. During the same period in the prior year, the firm posted $4.72 earnings per share. The company’s revenue for the quarter was up 18.5% on a year-over-year basis. On average, equities analysts predict that Reinsurance Group of America will post 28.26 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be issued a dividend of $0.98 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.93. This represents a $3.92 annualized dividend and a dividend yield of 1.6%. Reinsurance Group of America’s payout ratio is presently 16.34%.

Insider Buying and Selling at Reinsurance Group of America

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 transaction, the executive vice president directly owned 14,885 shares in the company, valued at approximately $3,666,175.50. This represents a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.60% of the company’s stock.

Institutional Trading of Reinsurance Group of America

Institutional investors and hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its position in Reinsurance Group of America by 44.3% during the first quarter. Goldman Sachs Group Inc. now owns 221,198 shares of the insurance provider’s stock valued at $43,554,000 after purchasing an additional 67,880 shares in the last quarter. Focus Partners Wealth lifted its stake in Reinsurance Group of America by 121.2% during the first quarter. Focus Partners Wealth now owns 2,676 shares of the insurance provider’s stock worth $527,000 after purchasing an additional 1,466 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of 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 in the last quarter. Gabelli Funds LLC purchased a new position in shares of Reinsurance Group of America in the 2nd quarter worth about $1,006,000. Finally, Cerity Partners LLC increased its position in shares of Reinsurance Group of America by 15.5% during the 2nd quarter. Cerity Partners LLC now owns 33,716 shares of the insurance provider’s stock valued at $6,688,000 after purchasing an additional 4,527 shares during the last quarter. Hedge funds and other institutional investors own 95.11% of the company’s stock.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.