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

Reinsurance Group of America (NYSE:RGA - Free Report) had its price objective lifted by Wells Fargo & Company from $244.00 to $263.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the insurance provider's stock.

RGA has been the topic of a number of other reports. Royal Bank of Canada reiterated an "outperform" rating and issued a $245.00 target price on shares of Reinsurance Group of America in a research note on Monday, February 10th. Piper Sandler dropped their target price 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. Barclays dropped their target price 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. Morgan Stanley dropped their price target on shares of Reinsurance Group of America from $245.00 to $233.00 and set an "equal weight" rating on the stock in a research note on Friday, February 14th. Finally, JPMorgan Chase & Co. upped their price target 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. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Reinsurance Group of America has an average rating of "Moderate Buy" and a consensus target price of $229.54.

Reinsurance Group of America Stock Down 3.4 %

RGA stock traded down $6.72 during trading on Wednesday, reaching $189.40. The stock had a trading volume of 796,134 shares, compared to its average volume of 537,660. Reinsurance Group of America has a one year low of $169.08 and a one year high of $233.81. The company has a quick ratio of 0.17, a current ratio of 0.15 and a debt-to-equity ratio of 0.46. The company's 50 day moving average is $215.37 and its two-hundred day moving average is $216.15. The company has a market capitalization of $12.47 billion, a price-to-earnings ratio of 17.63 and a beta of 0.93.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its quarterly earnings data 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 14.55% and a net margin of 3.24%. Equities research analysts forecast that Reinsurance Group of America will post 22.88 EPS for the current year.

Reinsurance Group of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Tuesday, February 18th. Reinsurance Group of America's dividend payout ratio is presently 33.15%.

Institutional Trading of Reinsurance Group of America

Several institutional investors and hedge funds have recently bought and sold shares of the company. Colonial Trust Co SC increased its holdings in shares of Reinsurance Group of America by 72.2% in the 4th quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider's stock worth $29,000 after buying an additional 57 shares during the last quarter. Private Trust Co. NA increased its holdings in shares of Reinsurance Group of America by 333.3% in the 3rd quarter. Private Trust Co. NA now owns 156 shares of the insurance provider's stock worth $34,000 after buying an additional 120 shares during the last quarter. Strengthening Families & Communities LLC bought a new position in shares of Reinsurance Group of America in the 3rd quarter worth $36,000. Capital Performance Advisors LLP bought a new position in shares of Reinsurance Group of America in the 3rd quarter worth $37,000. Finally, Spire Wealth Management increased its holdings in shares of Reinsurance Group of America by 39.0% in the 4th quarter. Spire Wealth Management now owns 203 shares of the insurance provider's stock worth $43,000 after buying an additional 57 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.