Reinsurance Group of America (NYSE:RGA) Price Target Increased to $95.00 by Analysts at Morgan Stanley

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Reinsurance Group of America (NYSE:RGA) had its target price upped by Morgan Stanley from $90.00 to $95.00 in a research note issued to investors on Thursday morning, BenzingaRatingsTable reports. Morgan Stanley currently has an underweight rating on the insurance provider’s stock.

Several other equities analysts have also recently commented on RGA. Credit Suisse Group reduced their price objective on shares of Reinsurance Group of America from $144.00 to $110.00 and set a neutral rating for the company in a research note on Monday, April 27th. Zacks Investment Research raised shares of Reinsurance Group of America from a strong sell rating to a hold rating and set a $89.00 price objective for the company in a research note on Tuesday, August 4th. Piper Sandler reduced their price objective on shares of Reinsurance Group of America from $95.00 to $80.00 and set a neutral rating for the company in a research note on Thursday, July 2nd. Royal Bank of Canada reiterated a hold rating and set a $105.00 target price on shares of Reinsurance Group of America in a research report on Monday, July 20th. Finally, UBS Group dropped their target price on shares of Reinsurance Group of America from $136.00 to $93.00 and set a neutral rating for the company in a research report on Wednesday, July 1st. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $110.88.

NYSE:RGA traded down $0.81 during mid-day trading on Thursday, hitting $91.22. 6,208 shares of the stock traded hands, compared to its average volume of 795,842. The business’s 50-day moving average price is $84.29 and its 200 day moving average price is $98.46. The company has a market cap of $6.33 billion, a PE ratio of 10.38 and a beta of 1.13. Reinsurance Group of America has a 12-month low of $55.39 and a 12-month high of $169.26. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.28.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Tuesday, August 4th. The insurance provider reported $1.36 EPS for the quarter, beating the consensus estimate of ($1.04) by $2.40. The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Reinsurance Group of America had a net margin of 3.99% and a return on equity of 5.79%. Reinsurance Group of America’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.31 earnings per share. Analysts anticipate that Reinsurance Group of America will post 7.77 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a $0.70 dividend. The ex-dividend date is Thursday, August 13th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.07%. Reinsurance Group of America’s payout ratio is 20.97%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Signaturefd LLC increased its stake in shares of Reinsurance Group of America by 20.0% in the first quarter. Signaturefd LLC now owns 654 shares of the insurance provider’s stock worth $55,000 after buying an additional 109 shares during the period. Cigna Investments Inc. New increased its stake in shares of Reinsurance Group of America by 1.6% in the first quarter. Cigna Investments Inc. New now owns 7,475 shares of the insurance provider’s stock worth $628,000 after buying an additional 120 shares during the period. Nissay Asset Management Corp Japan ADV increased its stake in shares of Reinsurance Group of America by 2.2% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 5,851 shares of the insurance provider’s stock worth $492,000 after buying an additional 126 shares during the period. Fifth Third Bancorp increased its stake in shares of Reinsurance Group of America by 1.8% in the second quarter. Fifth Third Bancorp now owns 7,907 shares of the insurance provider’s stock worth $620,000 after buying an additional 143 shares during the period. Finally, Parallel Advisors LLC increased its stake in shares of Reinsurance Group of America by 27.6% in the second quarter. Parallel Advisors LLC now owns 680 shares of the insurance provider’s stock worth $53,000 after buying an additional 147 shares during the period. Hedge funds and other institutional investors own 93.98% of the company’s stock.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated engages in reinsurance business. It offers individual and group life and health insurance products, including term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products, as well as asset-intensive and financial reinsurance products.

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Analyst Recommendations for Reinsurance Group of America (NYSE:RGA)

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