JPMorgan Chase & Co. Increases Reinsurance Group of America (NYSE:RGA) Price Target to $222.00

Reinsurance Group of America (NYSE:RGA) had its price objective lifted by JPMorgan Chase & Co. from $220.00 to $222.00 in a report released on Thursday morning, Benzinga reports. They currently have a neutral rating on the insurance provider’s stock.

Other equities analysts also recently issued research reports about the company. Barclays assumed coverage on Reinsurance Group of America in a report on Wednesday, September 4th. They issued an overweight rating and a $255.00 price objective for the company. Evercore ISI increased their price target 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. Piper Sandler boosted their price objective on shares of Reinsurance Group of America from $237.00 to $242.00 and gave the stock an overweight rating in a research note on Wednesday. Citigroup raised their target price on shares of Reinsurance Group of America from $194.00 to $252.00 and gave the company a buy rating in a research note on Tuesday, July 23rd. Finally, Morgan Stanley dropped their price target on Reinsurance Group of America from $238.00 to $236.00 and set an equal weight rating on the stock in a research report on Monday, August 19th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Reinsurance Group of America presently has an average rating of Moderate Buy and an average target price of $225.92.

Reinsurance Group of America Trading Up 2.5 %

Shares of RGA opened at $219.94 on Thursday. Reinsurance Group of America has a 1-year low of $140.75 and a 1-year high of $227.87. The firm has a market capitalization of $14.49 billion, a price-to-earnings ratio of 17.09 and a beta of 0.91. The firm’s 50-day moving average price is $213.21 and its 200-day moving average price is $205.77. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.52.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 earnings per share for the quarter, beating 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 business 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 EPS. The business’s revenue was up 17.4% on a year-over-year basis. Sell-side analysts anticipate that Reinsurance Group of America will post 21.7 EPS for the current year.

Reinsurance Group of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were given a $0.89 dividend. The ex-dividend date of this dividend was Friday, August 9th. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 1.62%. Reinsurance Group of America’s dividend payout ratio is 27.66%.

Insider Buying and Selling at Reinsurance Group of America

In other news, EVP William L. Hutton sold 1,209 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total value of $264,734.73. Following the completion of the transaction, the executive vice president now owns 12,357 shares in the company, valued at $2,705,812.29. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.37% of the company’s stock.

Institutional Trading of Reinsurance Group of America

A number of large investors have recently made changes to their positions in RGA. GHP Investment Advisors Inc. boosted its holdings in Reinsurance Group of America by 0.7% in the second quarter. GHP Investment Advisors Inc. now owns 9,462 shares of the insurance provider’s stock worth $1,942,000 after purchasing an additional 62 shares during the last quarter. Covestor Ltd grew its holdings in shares of Reinsurance Group of America by 20.3% in the first quarter. Covestor Ltd now owns 374 shares of the insurance provider’s stock worth $72,000 after acquiring an additional 63 shares during the period. Fiduciary Family Office LLC increased its position in Reinsurance Group of America by 3.1% during the second quarter. Fiduciary Family Office LLC now owns 2,550 shares of the insurance provider’s stock valued at $523,000 after acquiring an additional 76 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Reinsurance Group of America by 16.5% in the second quarter. GAMMA Investing LLC now owns 559 shares of the insurance provider’s stock valued at $115,000 after acquiring an additional 79 shares during the period. Finally, Hilltop National Bank boosted its position in Reinsurance Group of America by 13.1% in the second quarter. Hilltop National Bank now owns 706 shares of the insurance provider’s stock worth $145,000 after purchasing an additional 82 shares during the last quarter. 95.11% of the stock is currently owned by institutional investors.

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.