Barclays Initiates Coverage on Reinsurance Group of America (NYSE:RGA)

Barclays assumed coverage on shares of Reinsurance Group of America (NYSE:RGA) in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $255.00 target price on the insurance provider’s stock.

Several other research analysts have also commented on the company. JPMorgan Chase & Co. lifted their price target on Reinsurance Group of America from $208.00 to $220.00 and gave the stock a neutral rating in a research report on Friday, August 2nd. Raymond James lifted their price target on Reinsurance Group of America from $212.00 to $228.00 and gave the stock a strong-buy rating in a research report on Friday, June 14th. Citigroup lifted their price target on Reinsurance Group of America from $194.00 to $252.00 and gave the stock a buy rating in a research report on Tuesday, July 23rd. Piper Sandler lifted their price target on Reinsurance Group of America from $228.00 to $235.00 and gave the stock an overweight rating in a research report on Friday, June 28th. Finally, Morgan Stanley dropped their price target on Reinsurance Group of America from $238.00 to $236.00 and set an equal weight rating for the company in a research report on Monday, August 19th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $223.33.

Reinsurance Group of America Trading Down 1.9 %

Shares of RGA stock opened at $212.24 on Wednesday. Reinsurance Group of America has a 12-month low of $138.61 and a 12-month high of $227.87. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.52. The stock’s 50-day moving average price is $211.40 and its 200-day moving average price is $200.59. The stock has a market capitalization of $13.98 billion, a price-to-earnings ratio of 16.49 and a beta of 0.91.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.94 by $0.54. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. The firm had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same period in the previous year, the firm posted $4.40 earnings per share. The business’s revenue was up 17.4% compared to the same quarter last year. Equities research analysts predict that Reinsurance Group of America will post 21.5 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend was Friday, August 9th. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.85. Reinsurance Group of America’s payout ratio is 27.66%.

Institutional Trading of Reinsurance Group of America

Large investors have recently modified their holdings of the company. Pineridge Advisors LLC purchased a new stake in shares of Reinsurance Group of America in the fourth quarter valued at approximately $26,000. 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. International Assets Investment Management LLC purchased a new stake in shares of Reinsurance Group of America in the second quarter valued at approximately $28,000. Rise Advisors LLC purchased a new stake in shares of Reinsurance Group of America in the first quarter valued at approximately $29,000. Finally, Family Firm Inc. purchased a new stake in shares of Reinsurance Group of America in the second quarter valued at approximately $29,000. Hedge funds and other institutional investors 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.