JPMorgan Chase & Co. Raises Reinsurance Group of America (NYSE:RGA) Price Target to $195.00

Reinsurance Group of America (NYSE:RGA) had its target price hoisted by JPMorgan Chase & Co. from $189.00 to $195.00 in a research note issued to investors on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the insurance provider’s stock.

Several other analysts also recently weighed in on RGA. Piper Sandler lifted their target price on Reinsurance Group of America from $195.00 to $220.00 and gave the stock an overweight rating in a research report on Friday, April 5th. Evercore ISI boosted their price objective on shares of Reinsurance Group of America from $200.00 to $215.00 and gave the company an outperform rating in a research report on Thursday, April 11th. Royal Bank of Canada reaffirmed an outperform rating and set a $212.00 target price on shares of Reinsurance Group of America in a research report on Friday, April 12th. UBS Group lifted their price target on shares of 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. Finally, Wells Fargo & Company increased their price objective on Reinsurance Group of America from $193.00 to $210.00 and gave the stock an overweight rating in a research note on Thursday, April 11th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Reinsurance Group of America has a consensus rating of Moderate Buy and a consensus price target of $194.85.

Reinsurance Group of America Trading Up 5.5 %

Reinsurance Group of America stock traded up $10.47 during midday trading on Friday, reaching $201.65. The stock had a trading volume of 810,552 shares, compared to its average volume of 376,711. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.48. The firm has a market cap of $13.27 billion, a price-to-earnings ratio of 15.68 and a beta of 0.88. Reinsurance Group of America has a 52-week low of $133.13 and a 52-week high of $202.06. The company has a fifty day moving average of $186.04 and a 200 day moving average of $170.47.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $6.02 earnings per share for the quarter, topping the consensus estimate of $4.51 by $1.51. Reinsurance Group of America had a return on equity of 16.49% and a net margin of 4.16%. The firm had revenue of $6.34 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the prior year, the business posted $5.16 earnings per share. On average, analysts anticipate that Reinsurance Group of America will post 19.41 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Monday, May 13th. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 26.42%.

Insider Activity at Reinsurance Group of America

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,588 shares of Reinsurance Group of America stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $171.83, for a total value of $272,866.04. Following 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 Securities & Exchange Commission, which is available through the SEC website. In other news, EVP William L. Hutton sold 1,588 shares of the firm’s stock in a transaction 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 sale, the executive vice president now owns 13,625 shares of the company’s stock, valued at approximately $2,341,183.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William L. Hutton sold 1,908 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $181.84, for a total value of $346,950.72. Following the transaction, the executive vice president now owns 13,363 shares in the company, valued at $2,429,927.92. The disclosure for this sale can be found here. Insiders have sold a total of 6,462 shares of company stock valued at $1,162,239 over the last quarter. 1.37% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Reinsurance Group of America

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Reinsurance Group of America by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 7,350,810 shares of the insurance provider’s stock worth $1,067,264,000 after acquiring an additional 110,877 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Reinsurance Group of America by 7.3% during the 3rd quarter. American Century Companies Inc. now owns 2,605,471 shares of the insurance provider’s stock worth $378,288,000 after purchasing an additional 177,299 shares during the period. Earnest Partners LLC increased its holdings in Reinsurance Group of America by 2.7% in the third quarter. Earnest Partners LLC now owns 2,371,076 shares of the insurance provider’s stock valued at $344,257,000 after buying an additional 62,045 shares in the last quarter. Nuance Investments LLC raised its holdings in Reinsurance Group of America by 14.7% in the 4th quarter. Nuance Investments LLC now owns 1,114,060 shares of the insurance provider’s stock worth $180,233,000 after purchasing an additional 142,627 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Reinsurance Group of America by 1.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 918,023 shares of the insurance provider’s stock valued at $133,288,000 after buying an additional 13,229 shares in the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Reinsurance Group of America Company Profile

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.