Keefe, Bruyette & Woods Cuts Reinsurance Group of America (NYSE:RGA) Price Target to $250.00

Reinsurance Group of America (NYSE:RGA) had its target price trimmed by Keefe, Bruyette & Woods from $275.00 to $250.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the insurance provider’s stock.

Several other equities research analysts also recently weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $245.00 target price on shares of Reinsurance Group of America in a research note on Monday, February 10th. JPMorgan Chase & Co. upgraded Reinsurance Group of America from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $232.00 to $237.00 in a research note on Wednesday, April 2nd. Morgan Stanley dropped their target price on Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. Wells Fargo & Company increased their price target on Reinsurance Group of America from $263.00 to $264.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Finally, Piper Sandler dropped their price objective on shares of 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. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $230.15.

Reinsurance Group of America Trading Up 2.4 %

RGA opened at $177.76 on Wednesday. The firm has a market cap of $11.74 billion, a price-to-earnings ratio of 16.55 and a beta of 0.70. Reinsurance Group of America has a 52 week low of $159.25 and a 52 week high of $233.81. The business’s 50 day moving average is $193.93 and its two-hundred day moving average is $210.55. The company has a quick ratio of 0.17, a current ratio of 0.15 and a debt-to-equity ratio of 0.46.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Thursday, February 6th. The insurance provider reported $4.99 EPS for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.23). Reinsurance Group of America had a net margin of 3.24% and a return on equity of 14.55%. On average, research analysts predict that Reinsurance Group of America will post 22.9 EPS for the current year.

Reinsurance Group of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were issued a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend was Tuesday, February 18th. Reinsurance Group of America’s dividend payout ratio (DPR) is 33.15%.

Hedge Funds Weigh In On Reinsurance Group of America

Several hedge funds have recently added to or reduced their stakes in RGA. Alliancebernstein L.P. grew its position in shares of Reinsurance Group of America by 389.4% in the fourth quarter. Alliancebernstein L.P. now owns 1,123,022 shares of the insurance provider’s stock valued at $239,911,000 after purchasing an additional 893,537 shares during the last quarter. Norges Bank acquired a new stake in Reinsurance Group of America during the 4th quarter valued at $174,082,000. FMR LLC grew its holdings in Reinsurance Group of America by 11.1% during the 4th quarter. FMR LLC now owns 5,640,788 shares of the insurance provider’s stock valued at $1,205,042,000 after buying an additional 564,693 shares during the last quarter. GAMMA Investing LLC increased its position in Reinsurance Group of America by 54,931.6% during the first quarter. GAMMA Investing LLC now owns 474,923 shares of the insurance provider’s stock worth $93,512,000 after buying an additional 474,060 shares in the last quarter. Finally, Tidal Investments LLC raised its holdings in shares of Reinsurance Group of America by 6,944.4% in the fourth quarter. Tidal Investments LLC now owns 285,368 shares of the insurance provider’s stock worth $60,963,000 after acquiring an additional 281,317 shares during the last quarter. 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.