Analysts Set Reinsurance Group of America, Incorporated (NYSE:RGA) Price Target at $223.33

Shares of Reinsurance Group of America, Incorporated (NYSE:RGA) have received an average recommendation of “Moderate Buy” from the twelve research firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $223.33.

RGA has been the topic of a number of recent analyst reports. Evercore ISI increased their price target on shares of Reinsurance Group of America from $225.00 to $241.00 and gave the company an “outperform” rating in a report on Wednesday, June 26th. Citigroup increased their price target on shares of Reinsurance Group of America from $194.00 to $252.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Raymond James increased their price target on shares of Reinsurance Group of America from $212.00 to $228.00 and gave the company a “strong-buy” rating in a report on Friday, June 14th. Piper Sandler increased their price target on shares of Reinsurance Group of America from $228.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, June 28th. Finally, Wells Fargo & Company increased their price target on shares of Reinsurance Group of America from $236.00 to $239.00 and gave the company an “overweight” rating in a report on Friday, August 9th.

Reinsurance Group of America Price Performance

Shares of RGA opened at $216.75 on Wednesday. The stock has a market cap of $14.28 billion, a PE ratio of 16.84 and a beta of 0.91. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.17 and a current ratio of 0.17. Reinsurance Group of America has a fifty-two week low of $140.39 and a fifty-two week high of $227.87. The firm’s 50-day simple moving average is $212.53 and its two-hundred day simple moving average is $202.70.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 earnings per share for the quarter, topping analysts’ consensus estimates of $4.94 by $0.54. The business had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $5.07 billion. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The business’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.40 earnings per share. Analysts anticipate that Reinsurance Group of America will post 21.5 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were given a $0.89 dividend. The ex-dividend date of this dividend was Friday, August 9th. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 1.64%. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 27.66%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. GHP Investment Advisors Inc. raised its position in shares of Reinsurance Group of America by 0.7% during the 2nd quarter. GHP Investment Advisors Inc. now owns 9,462 shares of the insurance provider’s stock valued at $1,942,000 after purchasing an additional 62 shares during the period. Covestor Ltd grew its stake in Reinsurance Group of America by 20.3% during the first quarter. Covestor Ltd now owns 374 shares of the insurance provider’s stock valued at $72,000 after acquiring an additional 63 shares in the last quarter. Fiduciary Family Office LLC grew its stake in Reinsurance Group of America by 3.1% during the second quarter. Fiduciary Family Office LLC now owns 2,550 shares of the insurance provider’s stock valued at $523,000 after acquiring an additional 76 shares in the last quarter. GAMMA Investing LLC grew its stake in Reinsurance Group of America by 16.5% during the second quarter. GAMMA Investing LLC now owns 559 shares of the insurance provider’s stock valued at $115,000 after acquiring an additional 79 shares in the last quarter. Finally, Hilltop National Bank grew its stake in Reinsurance Group of America by 13.1% during the second quarter. Hilltop National Bank now owns 706 shares of the insurance provider’s stock valued at $145,000 after acquiring an additional 82 shares in the last quarter. 95.11% of the stock is currently owned by institutional investors.

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.