Reinsurance Group of America (NYSE:RGA) Price Target Raised to $245.00

Reinsurance Group of America (NYSE:RGA) had its price target hoisted by investment analysts at Royal Bank of Canada from $235.00 to $245.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the insurance provider’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 14.82% from the stock’s current price.

RGA has been the subject of several other reports. TD Cowen began coverage on Reinsurance Group of America in a research note on Wednesday, October 9th. They issued a “hold” rating and a $235.00 target price for the company. Barclays reduced their price target on shares of Reinsurance Group of America from $255.00 to $250.00 and set an “overweight” rating for the company in a research report on Tuesday, October 8th. Citigroup increased their target price on shares of Reinsurance Group of America from $194.00 to $252.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. raised their target price on shares of Reinsurance Group of America from $220.00 to $222.00 and gave the company a “neutral” rating in a research note on Thursday, October 3rd. Finally, Raymond James raised their target price on shares of Reinsurance Group of America from $228.00 to $250.00 and gave the stock a “strong-buy” rating in a report on Tuesday, September 24th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $227.38.

Reinsurance Group of America Trading Down 0.8 %

NYSE RGA traded down $1.72 during trading on Monday, reaching $213.38. 132,057 shares of the stock traded hands, compared to its average volume of 355,781. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.52. Reinsurance Group of America has a fifty-two week low of $151.90 and a fifty-two week high of $227.87. The stock’s 50-day moving average price is $215.72 and its 200 day moving average price is $209.43. The firm has a market cap of $14.05 billion, a price-to-earnings ratio of 19.59 and a beta of 0.92.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share for the quarter, topping analysts’ consensus estimates of $5.31 by $0.82. The firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.29 billion. Reinsurance Group of America had a return on equity of 15.68% and a net margin of 3.32%. The business’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.57 earnings per share. Analysts predict that Reinsurance Group of America will post 21.8 EPS for the current year.

Insider Buying and Selling at Reinsurance Group of America

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $218.97, for a total value of $264,734.73. Following the transaction, the executive vice president now owns 12,357 shares in the company, valued at $2,705,812.29. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.37% of the stock is owned by company insiders.

Institutional Trading of Reinsurance Group of America

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Zurich Insurance Group Ltd FI lifted its stake in shares of Reinsurance Group of America by 681.8% in the 2nd quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider’s stock valued at $104,244,000 after purchasing an additional 442,883 shares during the last quarter. Millennium Management LLC lifted its stake in Reinsurance Group of America by 43.8% in the second quarter. Millennium Management LLC now owns 437,266 shares of the insurance provider’s stock valued at $89,758,000 after buying an additional 133,212 shares during the period. Jupiter Asset Management Ltd. acquired a new position in Reinsurance Group of America in the first quarter valued at about $24,918,000. Earnest Partners LLC raised its stake in shares of Reinsurance Group of America by 4.2% in the 1st quarter. Earnest Partners LLC now owns 2,577,901 shares of the insurance provider’s stock valued at $497,226,000 after purchasing an additional 104,256 shares during the period. Finally, M&G Plc bought a new position in shares of Reinsurance Group of America in the 1st quarter valued at about $15,658,000. Institutional investors own 95.11% of the company’s stock.

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.