Wells Fargo & Company Issues Positive Forecast for Reinsurance Group of America (NYSE:RGA) Stock Price

Reinsurance Group of America (NYSE:RGA) had its price target raised by Wells Fargo & Company from $263.00 to $264.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has an overweight rating on the insurance provider’s stock.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of Reinsurance Group of America from $227.00 to $232.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Morgan Stanley lowered their price target on Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. Barclays dropped their price objective on Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Piper Sandler reduced their target price on Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $245.00 price target on shares of Reinsurance Group of America in a research note on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Reinsurance Group of America has an average rating of “Moderate Buy” and an average price target of $229.62.

Reinsurance Group of America Price Performance

Shares of Reinsurance Group of America stock opened at $199.84 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.15 and a quick ratio of 0.17. Reinsurance Group of America has a one year low of $171.84 and a one year high of $233.81. The business’s 50 day simple moving average is $214.48 and its two-hundred day simple moving average is $216.35. The stock has a market capitalization of $13.16 billion, a P/E ratio of 18.61 and a beta of 0.93.

Reinsurance Group of America (NYSE:RGA) last issued its 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%. Analysts forecast that Reinsurance Group of America will post 22.9 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. Shareholders of record on Tuesday, February 18th will be given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.78%. The ex-dividend date is Tuesday, February 18th. Reinsurance Group of America’s dividend payout ratio is currently 33.15%.

Institutional Trading of Reinsurance Group of America

A number of hedge funds have recently modified their holdings of the business. Spire Wealth Management lifted its position in 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 during the period. Colonial Trust Co SC increased its stake in shares of Reinsurance Group of America by 72.2% during the fourth quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 57 shares in the last quarter. Keybank National Association OH lifted its holdings in shares of Reinsurance Group of America by 2.6% during the fourth quarter. Keybank National Association OH now owns 2,342 shares of the insurance provider’s stock valued at $500,000 after purchasing an additional 59 shares during the last quarter. Baron Wealth Management LLC boosted its position in shares of Reinsurance Group of America by 4.5% in the 3rd quarter. Baron Wealth Management LLC now owns 1,485 shares of the insurance provider’s stock worth $324,000 after purchasing an additional 64 shares in the last quarter. Finally, Mount Lucas Management LP grew its stake in shares of Reinsurance Group of America by 2.9% in the 3rd quarter. Mount Lucas Management LP now owns 2,592 shares of the insurance provider’s stock worth $565,000 after buying an additional 72 shares during the last quarter. Institutional investors own 95.11% of the company’s stock.

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.