Reinsurance Group of America (NYSE:RGA) Given New $263.00 Price Target at Wells Fargo & Company

Reinsurance Group of America (NYSE:RGA) had its target price hoisted by Wells Fargo & Company from $244.00 to $263.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

Several other equities research analysts have also recently issued reports on RGA. Barclays lowered their target price on shares of Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Morgan Stanley lowered their price target on shares of Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. JPMorgan Chase & Co. boosted their price target on shares of Reinsurance Group of America from $227.00 to $232.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Royal Bank of Canada reissued an “outperform” rating and set a $245.00 price target on shares of Reinsurance Group of America in a research report on Monday, February 10th. Finally, Piper Sandler decreased their target price on shares of Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $229.54.

Reinsurance Group of America Price Performance

NYSE:RGA opened at $189.40 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.15 and a quick ratio of 0.17. The firm has a market cap of $12.47 billion, a price-to-earnings ratio of 17.63 and a beta of 0.93. The company has a 50 day moving average price of $215.37 and a 200-day moving average price of $216.15. Reinsurance Group of America has a 1-year low of $169.08 and a 1-year high of $233.81.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, February 6th. The insurance provider reported $4.99 EPS for the quarter, missing the consensus estimate of $5.22 by ($0.23). Reinsurance Group of America had a return on equity of 14.55% and a net margin of 3.24%. Equities research analysts forecast that Reinsurance Group of America will post 22.88 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Tuesday, February 18th. Reinsurance Group of America’s dividend payout ratio is currently 33.15%.

Institutional Investors Weigh In On Reinsurance Group of America

Hedge funds have recently modified their holdings of the stock. Colonial Trust Co SC increased its holdings in Reinsurance Group of America by 72.2% during the 4th quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 57 shares during the last quarter. Private Trust Co. NA raised its position in shares of Reinsurance Group of America by 333.3% during the 3rd quarter. Private Trust Co. NA now owns 156 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 120 shares in the last quarter. Strengthening Families & Communities LLC acquired a new stake in shares of Reinsurance Group of America during the 3rd quarter valued at approximately $36,000. Capital Performance Advisors LLP acquired a new stake in shares of Reinsurance Group of America during the 3rd quarter valued at approximately $37,000. Finally, Spire Wealth Management raised its position in shares of Reinsurance Group of America by 39.0% during the 4th quarter. Spire Wealth Management now owns 203 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 57 shares in the last quarter. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

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.