Reinsurance Group of America, Incorporated (NYSE:RGA) Stock Rated “Buy” by Wall Street Analysts

Reinsurance Group of America, Incorporated (NYSE:RGA) has been assigned a consensus recommendation of “Buy” from the ten analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $270.00.

A number of research firms have recently commented on RGA. TD Cowen raised their price target on Reinsurance Group of America from $235.00 to $250.00 and gave the stock a “hold” rating in a research report on Wednesday, October 21st. JPMorgan Chase & Co. increased their price objective on shares of Reinsurance Group of America from $293.00 to $297.00 and gave the stock an “overweight” rating in a research report on Thursday, October 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Reinsurance Group of America in a research report on Friday, August 7th. UBS Group upgraded Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. Finally, Wells Fargo & Company boosted their price target on shares of Reinsurance Group of America from $291.00 to $292.00 and gave the stock an “overweight” rating in a research report on Monday, October 12th.

Insider Transactions at Reinsurance Group of America

In other news, EVP Jonathan Porter sold 8,589 shares of the firm’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 of the company’s stock, valued at $3,666,175.50. This trade represents a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.60% of the stock is owned by corporate insiders.

Institutional Trading of Reinsurance Group of America

Several hedge funds have recently added to or reduced their stakes in RGA. SEB Asset Management AB acquired a new position in Reinsurance Group of America in the first quarter valued at about $81,533,000. Bank of New York Mellon Corp bought a new position in Reinsurance Group of America during the 2nd quarter worth $82,836,000. Lazard Asset Management LLC lifted its stake in shares of Reinsurance Group of America by 2,626.6% in the first quarter. Lazard Asset Management LLC now owns 195,794 shares of the insurance provider’s stock worth $39,973,000 after acquiring an additional 188,613 shares during the period. Wedge Capital Management L L P NC raised its stake in Reinsurance Group of America by 965.2% during the second quarter. Wedge Capital Management L L P NC now owns 179,440 shares of the insurance provider’s stock worth $38,158,000 after buying an additional 162,594 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Reinsurance Group of America in the third quarter valued at $30,927,000. 95.11% of the stock is owned by institutional investors and hedge funds.

Reinsurance Group of America Stock Up 0.3%

Shares of NYSE:RGA opened at $264.35 on Monday. The company has a 50 day moving average price of $253.25 and a two-hundred day moving average price of $224.63. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.14 and a current ratio of 0.14. The company has a market capitalization of $17.26 billion, a PE ratio of 11.61 and a beta of 0.45. Reinsurance Group of America has a 52 week low of $178.21 and a 52 week high of $272.44.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Thursday, August 6th. The insurance provider reported $8.89 earnings per share for the quarter, topping analysts’ consensus estimates of $6.50 by $2.39. The company had revenue of $6.64 billion for the quarter, compared to analysts’ expectations of $6.67 billion. Reinsurance Group of America had a net margin of 5.81% and a return on equity of 14.78%. The business’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same period last year, the firm posted $4.72 earnings per share. Analysts forecast that Reinsurance Group of America will post 29.78 earnings per share for the current year.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated (NYSE:RGA) is a global provider of life and health reinsurance. The company works with insurance carriers to help them manage mortality, longevity, morbidity and other insurance risks, while supporting the development and distribution of life and health insurance products.

RGA’s offerings include traditional life reinsurance, including term, whole life and universal life coverage, as well as health reinsurance and financial solutions. Its financial solutions business provides capital management, asset-intensive reinsurance, longevity and other risk-management arrangements designed to help insurers manage their balance sheets and meet changing customer and regulatory needs.

Founded in 1973 as part of General American Life Insurance Company, RGA became an independent public company in 1993.