Reinsurance Group of America (NYSE:RGA) Given New $269.00 Price Target at Wells Fargo & Company

Reinsurance Group of America (NYSE:RGA) had its target price increased by Wells Fargo & Company from $261.00 to $269.00 in a research note released on Thursday morning,Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

Several other equities research analysts have also commented on the stock. Barclays boosted their price objective on shares of Reinsurance Group of America from $268.00 to $278.00 and gave the stock an “overweight” rating in a research note on Tuesday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Reinsurance Group of America in a research note on Wednesday, May 13th. Evercore reiterated an “outperform” rating and set a $267.00 target price on shares of Reinsurance Group of America in a report on Monday, May 18th. Wall Street Zen upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Piper Sandler reduced 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 report on Monday, May 11th. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Reinsurance Group of America presently has an average rating of “Moderate Buy” and an average target price of $255.50.

Reinsurance Group of America Trading Up 1.2%

NYSE:RGA opened at $230.31 on Thursday. The company has a fifty day moving average of $211.03 and a 200 day moving average of $208.40. Reinsurance Group of America has a 52 week low of $165.52 and a 52 week high of $232.75. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $15.09 billion, a P/E ratio of 12.48 and a beta of 0.47.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results on Thursday, May 7th. The insurance provider reported $6.97 EPS for the quarter, beating analysts’ consensus estimates of $6.03 by $0.94. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.47 billion. During the same quarter in the prior year, the company posted $5.66 EPS. Reinsurance Group of America’s quarterly revenue was up 23.5% compared to the same quarter last year. On average, research analysts predict that Reinsurance Group of America will post 26.86 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 19th were issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Tuesday, May 19th. Reinsurance Group of America’s dividend payout ratio is currently 20.15%.

Insider Buying and Selling at Reinsurance Group of America

In other news, EVP John W. Hayden sold 414 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $214.95, for a total transaction of $88,989.30. Following the sale, the executive vice president directly owned 20,949 shares in the company, valued at $4,502,987.55. This trade represents a 1.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ronald Herrmann sold 7,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $210.58, for a total value of $1,474,060.00. Following the sale, the executive vice president directly owned 3,938 shares in the company, valued at approximately $829,264.04. This represents a 64.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Reinsurance Group of America

Several institutional investors have recently added to or reduced their stakes in the company. Principal Securities Inc. lifted its holdings in shares of Reinsurance Group of America by 3.6% in the 4th quarter. Principal Securities Inc. now owns 1,490 shares of the insurance provider’s stock worth $303,000 after acquiring an additional 52 shares during the last quarter. Rehmann Capital Advisory Group grew its position in Reinsurance Group of America by 1.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 4,281 shares of the insurance provider’s stock valued at $819,000 after acquiring an additional 54 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in Reinsurance Group of America by 6.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 974 shares of the insurance provider’s stock worth $198,000 after purchasing an additional 56 shares during the period. Covestor Ltd increased its stake in Reinsurance Group of America by 12.2% in the fourth quarter. Covestor Ltd now owns 533 shares of the insurance provider’s stock worth $108,000 after purchasing an additional 58 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in shares of Reinsurance Group of America by 17.6% during the first 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. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Company Profile

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.