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

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

A number of other research firms also recently commented on RGA. Piper Sandler lifted their price objective on shares of Reinsurance Group of America from $195.00 to $220.00 and gave the stock an overweight rating in a report on Friday, April 5th. Evercore ISI lifted their price target 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. UBS Group lifted their price objective on shares of Reinsurance Group of America from $198.00 to $223.00 and gave the stock a buy rating in a research report on Wednesday, April 10th. Morgan Stanley boosted their price target on Reinsurance Group of America from $178.00 to $185.00 and gave the company an equal weight rating in a research note on Monday, April 15th. Finally, Royal Bank of Canada reissued an outperform rating and set a $212.00 price objective on shares of Reinsurance Group of America in a research report on Friday, April 12th. Two investment 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. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $194.85.

Reinsurance Group of America Stock Down 0.4 %

NYSE:RGA traded down $0.73 during trading hours on Friday, hitting $200.92. The company’s stock had a trading volume of 557,746 shares, compared to its average volume of 359,856. The stock has a market capitalization of $13.22 billion, a P/E ratio of 15.67 and a beta of 0.88. The company has a current ratio of 0.19, a quick ratio of 0.17 and a debt-to-equity ratio of 0.46. The stock has a fifty day moving average of $186.60 and a 200-day moving average of $171.07. Reinsurance Group of America has a 52-week low of $135.07 and a 52-week high of $204.69.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Friday, May 3rd. The insurance provider reported $6.02 EPS for the quarter, beating analysts’ consensus estimates of $4.55 by $1.47. The firm had revenue of $6.34 billion for the quarter, compared to the consensus estimate of $4.54 billion. Reinsurance Group of America had a net margin of 4.16% and a return on equity of 15.94%. During the same period last year, the firm posted $5.16 EPS. On average, equities analysts forecast that Reinsurance Group of America will post 19.41 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Monday, May 13th. Reinsurance Group of America’s payout ratio is currently 26.42%.

Insider Transactions at Reinsurance Group of America

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,588 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $171.83, for a total transaction of $272,866.04. Following the sale, the executive vice president now owns 13,625 shares in the company, valued at approximately $2,341,183.75. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP William L. Hutton sold 1,588 shares of the firm’s stock in a transaction that occurred 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 owns 13,625 shares in the company, valued at $2,341,183.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP William L. Hutton sold 1,908 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $181.84, for a total value of $346,950.72. Following the completion of the transaction, the executive vice president now directly 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 worth $1,162,239 over the last ninety days. 1.37% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Reinsurance Group of America

Institutional investors have recently made changes to their positions in the company. Texas Permanent School Fund Corp raised its stake in Reinsurance Group of America by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 57,680 shares of the insurance provider’s stock worth $11,125,000 after acquiring an additional 746 shares in the last quarter. WBI Investments LLC boosted its stake in shares of Reinsurance Group of America by 759.7% in the 1st quarter. WBI Investments LLC now owns 29,874 shares of the insurance provider’s stock valued at $5,762,000 after purchasing an additional 26,399 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Reinsurance Group of America in the 1st quarter valued at $514,000. Daiwa Securities Group Inc. acquired a new position in Reinsurance Group of America in the first quarter valued at about $270,000. Finally, Nordea Investment Management AB grew its holdings in Reinsurance Group of America by 8.2% during the first quarter. Nordea Investment Management AB now owns 89,806 shares of the insurance provider’s stock valued at $17,389,000 after purchasing an additional 6,777 shares during the period. 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.