Piper Sandler Boosts Reinsurance Group of America (NYSE:RGA) Price Target to $235.00

Reinsurance Group of America (NYSE:RGA) had its price objective hoisted by Piper Sandler from $228.00 to $235.00 in a report issued on Friday morning, Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

A number of other brokerages have also issued reports on RGA. Royal Bank of Canada restated an outperform rating and set a $225.00 price target on shares of Reinsurance Group of America in a research note on Friday, June 14th. Raymond James upped their target price on Reinsurance Group of America from $212.00 to $228.00 and gave the company a strong-buy rating in a research report on Friday, June 14th. Wells Fargo & Company lifted their price target on Reinsurance Group of America from $210.00 to $227.00 and gave the stock an overweight rating in a research report on Friday, May 10th. UBS Group increased their price objective on Reinsurance Group of America from $223.00 to $240.00 and gave the company a buy rating in a report on Thursday, May 30th. Finally, Morgan Stanley lifted their target price on Reinsurance Group of America from $178.00 to $185.00 and gave the stock an equal weight rating in a report on Monday, April 15th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $220.00.

Reinsurance Group of America Stock Performance

Shares of RGA opened at $205.27 on Friday. Reinsurance Group of America has a 12 month low of $135.07 and a 12 month high of $213.21. The stock has a fifty day moving average price of $203.58 and a 200-day moving average price of $185.03. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.46. The firm has a market cap of $13.50 billion, a PE ratio of 15.95 and a beta of 0.92.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Friday, May 3rd. The insurance provider reported $6.02 earnings per share for the quarter, topping the consensus estimate of $4.55 by $1.47. Reinsurance Group of America had a return on equity of 15.94% and a net margin of 4.16%. The business had revenue of $6.34 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter last year, the company earned $5.16 earnings per share. Equities research analysts predict that Reinsurance Group of America will post 20.94 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date was Monday, May 13th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 26.42%.

Insider Activity at Reinsurance Group of America

In other Reinsurance Group of America news, EVP John W. Hayden sold 1,767 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $206.85, for a total value of $365,503.95. Following the completion of the transaction, the executive vice president now owns 16,490 shares in the company, valued at $3,410,956.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.37% of the stock is owned by company insiders.

Hedge Funds Weigh In On Reinsurance Group of America

A number of large investors have recently bought and sold shares of RGA. New Covenant Trust Company N.A. purchased a new stake in shares of Reinsurance Group of America in the first quarter valued at approximately $28,000. Rise Advisors LLC purchased a new stake in Reinsurance Group of America in the 1st quarter worth $29,000. Lindbrook Capital LLC raised its position in Reinsurance Group of America by 129.9% during the fourth quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 87 shares during the period. LRI Investments LLC purchased a new position in Reinsurance Group of America during the first quarter valued at $33,000. Finally, Pineridge Advisors LLC acquired a new stake in shares of Reinsurance Group of America in the fourth quarter valued at about $26,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

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.