Raymond James Raises Reinsurance Group of America (NYSE:RGA) Price Target to $250.00

Reinsurance Group of America (NYSE:RGA) had its target price lifted by Raymond James from $228.00 to $250.00 in a research report report published on Tuesday, Benzinga reports. The firm currently has a strong-buy rating on the insurance provider’s stock.

RGA has been the subject of a number of other reports. Barclays began coverage on shares of Reinsurance Group of America in a research note on Wednesday, September 4th. They issued an overweight rating and a $255.00 price objective for the company. Evercore ISI lifted their price objective on shares of Reinsurance Group of America from $225.00 to $241.00 and gave the stock an outperform rating in a research note on Wednesday, June 26th. Wells Fargo & Company lifted their price objective on shares of Reinsurance Group of America from $236.00 to $239.00 and gave the stock an overweight rating in a research note on Friday, August 9th. JPMorgan Chase & Co. lifted their price objective on shares of Reinsurance Group of America from $208.00 to $220.00 and gave the stock a neutral rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada raised their target price on shares of Reinsurance Group of America from $225.00 to $235.00 and gave the stock an outperform rating in a report on Monday, August 5th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $225.17.

Reinsurance Group of America Price Performance

Reinsurance Group of America stock opened at $218.43 on Tuesday. Reinsurance Group of America has a 52-week low of $140.39 and a 52-week high of $227.87. The company has a market cap of $14.37 billion, a price-to-earnings ratio of 16.97 and a beta of 0.91. The firm’s fifty day moving average is $213.26 and its 200 day moving average is $204.16. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.52.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, topping analysts’ consensus estimates of $4.94 by $0.54. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The business had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $5.07 billion. During the same period last year, the company posted $4.40 EPS. The business’s revenue was up 17.4% on a year-over-year basis. Sell-side analysts forecast that Reinsurance Group of America will post 21.7 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were issued a dividend of $0.89 per share. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.85. The ex-dividend date was Friday, August 9th. This represents a $3.56 dividend on an annualized basis and a yield of 1.63%. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 27.66%.

Insider Activity at Reinsurance Group of America

In related news, EVP William L. Hutton sold 1,209 shares of Reinsurance Group of America stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $218.97, for a total transaction of $264,734.73. Following the completion of the sale, the executive vice president now owns 12,357 shares in the company, valued at approximately $2,705,812.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.37% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Reinsurance Group of America

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pineridge Advisors LLC bought a new stake in Reinsurance Group of America during the 4th quarter valued at about $26,000. New Covenant Trust Company N.A. purchased a new position in Reinsurance Group of America during the 1st quarter valued at about $28,000. International Assets Investment Management LLC purchased a new position in Reinsurance Group of America during the 2nd quarter valued at about $28,000. Rise Advisors LLC purchased a new position in Reinsurance Group of America during the 1st quarter valued at about $29,000. Finally, Family Firm Inc. purchased a new position in Reinsurance Group of America during the 2nd quarter valued at about $29,000. 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.