Reinsurance Group of America (NYSE:RGA) Stock Rating Raised to Overweight at Morgan Stanley

Reinsurance Group of America (NYSE:RGA) was upgraded by stock analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a note issued to investors on Monday, Briefing.com reports. The firm presently has a $295.00 price target on the insurance provider’s stock. Morgan Stanley’s price objective indicates a potential upside of 16.19% from the company’s current price.

Several other research analysts also recently weighed in on the company. Wells Fargo & Company boosted their price target on Reinsurance Group of America from $269.00 to $291.00 and gave the company an “overweight” rating in a report on Wednesday, August 19th. JPMorgan Chase & Co. lifted their price objective on Reinsurance Group of America from $286.00 to $293.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Barclays upped their target price on Reinsurance Group of America from $278.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. TD Cowen raised their price target on Reinsurance Group of America from $212.00 to $235.00 and gave the stock a “hold” rating in a research note on Wednesday, July 22nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Reinsurance Group of America in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Reinsurance Group of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $267.56.

Reinsurance Group of America Trading Up 2.1%

NYSE:RGA traded up $5.25 on Monday, reaching $253.90. The stock had a trading volume of 134,642 shares, compared to its average volume of 364,172. Reinsurance Group of America has a 12-month low of $178.21 and a 12-month high of $257.81. The company has a market cap of $16.58 billion, a price-to-earnings ratio of 11.13 and a beta of 0.47. The firm’s fifty day moving average is $244.39 and its two-hundred day moving average is $222.52. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.14 and a quick ratio of 0.14.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Thursday, August 6th. The insurance provider reported $8.89 earnings per share for the quarter, beating analysts’ consensus estimates of $6.50 by $2.39. The business had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.67 billion. Reinsurance Group of America had a net margin of 5.81% and a return on equity of 14.78%. The company’s revenue was up 18.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.72 earnings per share. Equities analysts expect that Reinsurance Group of America will post 29.68 EPS for the current fiscal year.

Insiders Place Their Bets

In other Reinsurance Group of America news, EVP Jonathan Porter sold 8,589 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $246.30, for a total value of $2,115,470.70. Following the completion of the sale, the executive vice president directly owned 14,885 shares in the company, valued at $3,666,175.50. This represents a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RGA. WCM Investment Management LLC lifted its stake in Reinsurance Group of America by 3.0% in the first quarter. WCM Investment Management LLC now owns 2,830,620 shares of the insurance provider’s stock valued at $566,803,000 after acquiring an additional 82,681 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Reinsurance Group of America by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 1,341,364 shares of the insurance provider’s stock worth $272,966,000 after purchasing an additional 12,682 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Reinsurance Group of America by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,114,998 shares of the insurance provider’s stock worth $227,624,000 after buying an additional 15,372 shares during the last quarter. Norges Bank bought a new position in shares of Reinsurance Group of America in the 4th quarter valued at approximately $173,767,000. Finally, Sei Investments Co. lifted its stake in shares of Reinsurance Group of America by 1.0% in the first quarter. Sei Investments Co. now owns 837,391 shares of the insurance provider’s stock worth $170,960,000 after buying an additional 8,221 shares during the last quarter. Institutional investors and hedge funds own 95.11% of the company’s stock.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated (NYSE:RGA) is a global provider of life and health reinsurance. The company helps insurance and financial services companies manage mortality, longevity, morbidity and other risks by assuming portions of their insurance obligations and providing capital and risk-management support.

RGA’s business includes traditional life reinsurance, health reinsurance, longevity solutions and financial solutions. Its offerings support products such as life insurance, annuities, critical illness coverage, disability insurance and other health-related protection products.