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

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

Several other research firms also recently commented on RGA. Wells Fargo & Company lifted their price objective on Reinsurance Group of America from $193.00 to $210.00 and gave the stock an overweight rating in a report on Thursday, April 11th. Morgan Stanley lifted their price target on shares of Reinsurance Group of America from $178.00 to $185.00 and gave the stock an equal weight rating in a research note on Monday, April 15th. UBS Group increased their price objective on shares of Reinsurance Group of America from $198.00 to $223.00 and gave the company a buy rating in a research report on Wednesday, April 10th. Evercore ISI lifted their target price 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. Finally, Keefe, Bruyette & Woods raised their price target on Reinsurance Group of America from $200.00 to $220.00 and gave the stock an outperform rating in a research note on Wednesday, April 10th. Two 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. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $194.85.

Reinsurance Group of America Stock Down 0.4 %

Shares of Reinsurance Group of America stock opened at $200.92 on Friday. The company has a 50-day simple moving average of $187.17 and a two-hundred day simple moving average of $171.43. The stock has a market capitalization of $13.22 billion, a PE ratio of 15.61 and a beta of 0.88. Reinsurance Group of America has a 52-week low of $135.07 and a 52-week high of $204.69. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.17 and a current ratio of 0.19.

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

Reinsurance Group of America Dividend Announcement

The company also recently announced 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 26.42%.

Insiders Place Their Bets

In other news, CFO Todd C. Larson sold 2,966 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $182.88, for a total value of $542,422.08. Following the transaction, the chief financial officer now directly owns 49,549 shares in the company, valued at $9,061,521.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP William L. Hutton sold 1,908 shares of Reinsurance Group of America stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $181.84, for a total transaction of $346,950.72. Following the sale, the executive vice president now owns 13,363 shares in the company, valued at $2,429,927.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, 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 transaction, the chief financial officer now owns 49,549 shares of the company’s stock, valued at approximately $9,061,521.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,462 shares of company stock worth $1,162,239. Corporate insiders own 1.37% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Rise Advisors LLC bought a new position in Reinsurance Group of America during the first quarter valued at approximately $29,000. Lindbrook Capital LLC grew its holdings in shares of Reinsurance Group of America by 129.9% in the fourth quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 87 shares in the last quarter. Pineridge Advisors LLC bought a new stake in Reinsurance Group of America in the fourth quarter worth $26,000. VisionPoint Advisory Group LLC raised its stake in Reinsurance Group of America by 116.3% during the third quarter. VisionPoint Advisory Group LLC now owns 212 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 114 shares in the last quarter. Finally, Toth Financial Advisory Corp lifted its position in Reinsurance Group of America by 41.2% during the fourth quarter. Toth Financial Advisory Corp now owns 240 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 70 shares during the last quarter. 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.