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

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

RGA has been the subject of several other reports. Barclays cut their target price on Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Morgan Stanley lowered their target price on shares of Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating for the company in a research note on Friday, February 14th. Wells Fargo & Company lifted their price objective on shares of Reinsurance Group of America from $263.00 to $264.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. UBS Group reiterated a “neutral” rating and issued a $216.00 target price (down from $250.00) on shares of Reinsurance Group of America in a report on Wednesday, April 2nd. Finally, Evercore ISI cut their target price on Reinsurance Group of America from $280.00 to $270.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Reinsurance Group of America has an average rating of “Moderate Buy” and a consensus target price of $230.15.

Reinsurance Group of America Trading Down 4.4 %

Shares of RGA stock traded down $8.06 on Wednesday, reaching $173.84. The company had a trading volume of 233,508 shares, compared to its average volume of 512,276. Reinsurance Group of America has a 12 month low of $159.25 and a 12 month high of $233.81. The stock has a market cap of $11.48 billion, a PE ratio of 16.19 and a beta of 0.70. The company has a current ratio of 0.15, a quick ratio of 0.17 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average of $196.00 and a 200-day moving average of $211.15.

Reinsurance Group of America (NYSE:RGA) last released its 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 net margin of 3.24% and a return on equity of 14.55%. On average, equities analysts forecast that Reinsurance Group of America will post 22.9 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.05%. 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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RGA. Alliancebernstein L.P. increased its position in shares of Reinsurance Group of America by 389.4% during the 4th 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 purchased a new stake in shares of Reinsurance Group of America in the fourth quarter valued at $174,082,000. FMR LLC lifted its holdings in shares of Reinsurance Group of America by 11.1% in the 4th quarter. FMR LLC now owns 5,640,788 shares of the insurance provider’s stock worth $1,205,042,000 after acquiring an additional 564,693 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Reinsurance Group of America by 54,931.6% during the 1st quarter. GAMMA Investing LLC now owns 474,923 shares of the insurance provider’s stock worth $93,512,000 after purchasing an additional 474,060 shares during the period. Finally, Tidal Investments LLC grew its holdings in Reinsurance Group of America by 6,944.4% during the 4th quarter. Tidal Investments LLC now owns 285,368 shares of the insurance provider’s stock valued at $60,963,000 after purchasing an additional 281,317 shares during the last quarter. 95.11% of the stock is owned by institutional investors.

About Reinsurance Group of America

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.