Reinsurance Group of America (NYSE:RGA) Price Target Raised to $269.00

Reinsurance Group of America (NYSE:RGA) had its target price boosted by analysts at Wells Fargo & Company from $261.00 to $269.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 16.63% from the stock’s previous close.

RGA has been the topic of several other research reports. Weiss Ratings restated a “buy (b)” rating on shares of Reinsurance Group of America in a research note on Wednesday, May 13th. UBS Group boosted their price target on shares of Reinsurance Group of America from $220.00 to $236.00 and gave the company a “neutral” rating in a research report on Wednesday. Evercore reaffirmed an “outperform” rating and set a $267.00 price objective on shares of Reinsurance Group of America in a research note on Monday, May 18th. Piper Sandler dropped their price objective on shares of Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Finally, Wall Street Zen raised Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $255.50.

Reinsurance Group of America Price Performance

RGA traded up $3.03 during midday trading on Thursday, reaching $230.65. 127,073 shares of the company’s stock were exchanged, compared to its average volume of 373,918. The firm has a market capitalization of $15.11 billion, a price-to-earnings ratio of 12.49 and a beta of 0.47. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.46. Reinsurance Group of America has a one year low of $165.52 and a one year high of $232.75. The business has a 50-day simple moving average of $210.62 and a two-hundred day simple moving average of $208.22.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Thursday, May 7th. The insurance provider reported $6.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.03 by $0.94. The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.47 billion. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.Reinsurance Group of America’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.66 EPS. As a group, research analysts predict that Reinsurance Group of America will post 26.86 EPS for the current year.

Insider Activity at Reinsurance Group of America

In other news, EVP Ronald Herrmann sold 7,000 shares of Reinsurance Group of America stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $210.58, for a total value of $1,474,060.00. Following the completion of the sale, the executive vice president directly owned 3,938 shares of the company’s stock, valued at approximately $829,264.04. This trade represents a 64.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John W. Hayden sold 414 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total value of $88,989.30. Following the sale, the executive vice president owned 20,949 shares of the company’s stock, valued at approximately $4,502,987.55. The trade was a 1.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Reinsurance Group of America

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Activest Wealth Management acquired a new position in shares of Reinsurance Group of America in the 4th quarter valued at approximately $30,000. Tobam lifted its position in Reinsurance Group of America by 244.7% in the 4th quarter. Tobam now owns 162 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 115 shares in the last quarter. International Assets Investment Management LLC bought a new position in Reinsurance Group of America during the 4th quarter worth about $35,000. Advisory Services Network LLC acquired a new position in shares of Reinsurance Group of America during the third quarter worth about $38,000. Finally, Entrust Financial LLC acquired a new stake in Reinsurance Group of America in the 4th quarter valued at approximately $40,000. 95.11% of the stock is owned by institutional investors.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.