Reinsurance Group of America (NYSE:RGA) Price Target Raised to $185.00 at Morgan Stanley

Reinsurance Group of America (NYSE:RGA) had its price target increased by Morgan Stanley from $178.00 to $185.00 in a research report released on Monday, Benzinga reports. They currently have an equal weight rating on the insurance provider’s stock.

Several other research firms have also recently weighed in on RGA. Evercore ISI increased their price objective on shares of Reinsurance Group of America from $200.00 to $215.00 and gave the stock an outperform rating in a research report on Thursday, April 11th. Royal Bank of Canada reissued an outperform rating and issued a $212.00 price objective on shares of Reinsurance Group of America in a research report on Friday, April 12th. Wells Fargo & Company boosted their price objective on Reinsurance Group of America from $193.00 to $210.00 and gave the company an overweight rating in a research note on Thursday, April 11th. Piper Sandler raised their target price on Reinsurance Group of America from $195.00 to $220.00 and gave the stock an overweight rating in a research note on Friday, April 5th. Finally, UBS Group boosted their price target on Reinsurance Group of America from $198.00 to $223.00 and gave the company a buy rating in a research note on Wednesday, April 10th. Three 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. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $194.38.

Reinsurance Group of America Stock Up 1.2 %

Shares of RGA opened at $182.40 on Monday. The stock’s 50-day moving average price is $181.96 and its two-hundred day moving average price is $167.34. Reinsurance Group of America has a 12 month low of $133.13 and a 12 month high of $196.25. The company has a market capitalization of $12.00 billion, a PE ratio of 13.58 and a beta of 0.89. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.48.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Friday, February 2nd. The insurance provider reported $4.73 EPS for the quarter, topping analysts’ consensus estimates of $4.40 by $0.33. The company had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.57 billion. Reinsurance Group of America had a return on equity of 16.20% and a net margin of 4.86%. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.99 earnings per share. On average, analysts anticipate that Reinsurance Group of America will post 19.41 EPS for the current year.

Reinsurance Group of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.86%. The ex-dividend date was Monday, February 12th. Reinsurance Group of America’s payout ratio is currently 25.32%.

Insider Transactions at Reinsurance Group of America

In related news, CFO Todd C. Larson sold 2,966 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $182.88, for a total transaction of $542,422.08. Following the completion of the sale, the chief financial officer now owns 49,549 shares in the company, valued at $9,061,521.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP William L. Hutton sold 1,588 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $171.83, for a total value of $272,866.04. Following the completion of the transaction, the executive vice president now directly owns 13,625 shares of the company’s stock, valued at $2,341,183.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Todd C. Larson sold 2,966 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $182.88, for a total value of $542,422.08. Following the sale, the chief financial officer now directly owns 49,549 shares of the company’s stock, valued at $9,061,521.12. The disclosure for this sale can be found here. Insiders sold a total of 6,462 shares of company stock valued at $1,162,239 over the last three months. Corporate insiders own 1.31% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RGA. Rise Advisors LLC bought a new stake in shares of Reinsurance Group of America during the 1st quarter worth $29,000. Lindbrook Capital LLC raised its position in Reinsurance Group of America by 129.9% in 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. Pineridge Advisors LLC purchased a new position in Reinsurance Group of America in the fourth quarter valued at about $26,000. VisionPoint Advisory Group LLC grew its position in shares of Reinsurance Group of America by 116.3% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 212 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 114 shares during the period. Finally, Toth Financial Advisory Corp increased its stake in shares of Reinsurance Group of America by 41.2% during the 4th quarter. Toth Financial Advisory Corp now owns 240 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 70 shares during the last quarter. 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.