Reinsurance Group of America (NYSE:RGA) Price Target Cut to $242.00 by Analysts at Piper Sandler

Reinsurance Group of America (NYSE:RGA) had its price target trimmed by Piper Sandler from $252.00 to $242.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an overweight rating on the insurance provider’s stock.

Several other equities research analysts have also weighed in on the company. Royal Bank of Canada lifted their price target on Reinsurance Group of America from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. increased their price target on shares of Reinsurance Group of America from $227.00 to $232.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Barclays dropped their price objective 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. Finally, StockNews.com upgraded shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $228.31.

Reinsurance Group of America Stock Performance

NYSE:RGA opened at $198.95 on Monday. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.45. Reinsurance Group of America has a twelve month low of $165.38 and a twelve month high of $233.81. The stock has a market cap of $13.10 billion, a P/E ratio of 18.52 and a beta of 0.93. The firm’s fifty day simple moving average is $217.62 and its 200 day simple moving average is $217.10.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results on Thursday, February 6th. The insurance provider reported $4.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.23). Reinsurance Group of America had a return on equity of 14.80% and a net margin of 3.24%. As a group, research analysts predict that Reinsurance Group of America will post 23.14 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The business 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. The ex-dividend date is Tuesday, February 18th. This represents a $3.56 annualized dividend and a dividend yield of 1.79%. Reinsurance Group of America’s dividend payout ratio (DPR) is 33.15%.

Hedge Funds Weigh In On Reinsurance Group of America

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Atomi Financial Group Inc. purchased a new position in Reinsurance Group of America during the third quarter valued at approximately $235,000. CWM LLC lifted its stake in shares of Reinsurance Group of America by 65.1% during the 3rd quarter. CWM LLC now owns 2,244 shares of the insurance provider’s stock valued at $489,000 after buying an additional 885 shares in the last quarter. Armstrong Advisory Group Inc. bought a new position in Reinsurance Group of America in the 3rd quarter worth $25,000. Willis Investment Counsel increased its stake in Reinsurance Group of America by 1.5% in the 3rd quarter. Willis Investment Counsel now owns 51,807 shares of the insurance provider’s stock worth $11,287,000 after buying an additional 754 shares in the last quarter. Finally, Creative Planning raised its holdings in Reinsurance Group of America by 3.1% during the third quarter. Creative Planning now owns 10,370 shares of the insurance provider’s stock valued at $2,259,000 after acquiring an additional 314 shares during the period. 95.11% of the stock is currently owned by hedge funds and other 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.