Reinsurance Group of America (NYSE:RGA) Price Target Raised to $250.00

Reinsurance Group of America (NYSE:RGA) had its target price hoisted by TD Cowen from $235.00 to $250.00 in a report released on Wednesday,Benzinga reports. The firm currently has a hold rating on the insurance provider’s stock.

A number of other research firms have also recently weighed in on RGA. Weiss Ratings reiterated a “buy (b)” rating on shares of Reinsurance Group of America in a report on Friday, August 7th. Morgan Stanley upgraded shares of Reinsurance Group of America from an “equal weight” rating to an “overweight” rating and set a $295.00 price objective on the stock in a report on Monday, September 28th. Barclays set a $292.00 target price on shares of Reinsurance Group of America in a research report on Thursday, October 8th. JPMorgan Chase & Co. upped their target price on shares of Reinsurance Group of America from $293.00 to $297.00 and gave the company an “overweight” rating in a research report on Thursday, October 15th. Finally, Wells Fargo & Company increased their target price on shares of Reinsurance Group of America from $291.00 to $292.00 and gave the stock an “overweight” rating in a research note on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Reinsurance Group of America has a consensus rating of “Buy” and a consensus target price of $270.00.

Reinsurance Group of America Trading Down 3.0%

Shares of Reinsurance Group of America stock opened at $263.76 on Wednesday. The firm has a market capitalization of $17.22 billion, a price-to-earnings ratio of 9.07 and a beta of 0.45. Reinsurance Group of America has a fifty-two week low of $178.21 and a fifty-two week high of $272.44. 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 stock has a 50 day moving average of $251.45 and a 200 day moving average of $230.06.

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

Insider Buying and Selling at Reinsurance Group of America

In related news, EVP Jonathan Porter sold 8,589 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $246.30, for a total transaction of $2,115,470.70. Following the sale, the executive vice president directly owned 14,885 shares in the company, valued at approximately $3,666,175.50. This represents a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Greenleaf Trust raised its holdings in Reinsurance Group of America by 2.4% during the 2nd quarter. Greenleaf Trust now owns 1,811 shares of the insurance provider’s stock valued at $385,000 after buying an additional 42 shares during the period. Elevation Wealth Partners LLC lifted its stake in Reinsurance Group of America by 9.5% in the second quarter. Elevation Wealth Partners LLC now owns 702 shares of the insurance provider’s stock worth $149,000 after purchasing an additional 61 shares during the last quarter. waypoint wealth counsel lifted its stake in Reinsurance Group of America by 6.6% in the first quarter. waypoint wealth counsel now owns 1,098 shares of the insurance provider’s stock worth $224,000 after purchasing an additional 68 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV boosted its position in shares of Reinsurance Group of America by 3.4% during the first quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 2,308 shares of the insurance provider’s stock valued at $471,000 after buying an additional 76 shares during the period. Finally, Parkside Financial Bank & Trust boosted its position in shares of Reinsurance Group of America by 5.1% during the second quarter. Parkside Financial Bank & Trust now owns 1,555 shares of the insurance provider’s stock valued at $331,000 after buying an additional 76 shares during the period. Hedge funds and other institutional investors 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 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.