Reinsurance Group of America (NYSE:RGA) PT Raised to $235.00

Reinsurance Group of America (NYSE:RGA) had its price objective raised by analysts at Piper Sandler from $228.00 to $235.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the insurance provider’s stock. Piper Sandler’s target price would indicate a potential upside of 14.48% from the company’s previous close.

Other equities analysts have also issued research reports about the company. JPMorgan Chase & Co. lifted their target price on Reinsurance Group of America from $189.00 to $195.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Keefe, Bruyette & Woods boosted their price target on Reinsurance Group of America from $220.00 to $235.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 7th. Wells Fargo & Company boosted their price target on Reinsurance Group of America from $210.00 to $227.00 and gave the stock an “overweight” rating in a research note on Friday, May 10th. Evercore ISI lifted their target price on Reinsurance Group of America from $225.00 to $241.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, UBS Group lifted their target price on Reinsurance Group of America from $223.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Reinsurance Group of America has an average rating of “Moderate Buy” and a consensus price target of $220.00.

Reinsurance Group of America Stock Down 0.4 %

NYSE:RGA opened at $205.27 on Friday. Reinsurance Group of America has a twelve month low of $135.07 and a twelve month high of $213.21. The company has a market cap of $13.50 billion, a price-to-earnings ratio of 15.95 and a beta of 0.92. The stock has a fifty day simple moving average of $203.58 and a 200-day simple moving average of $184.90. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.46.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Friday, May 3rd. The insurance provider reported $6.02 EPS for the quarter, beating the consensus estimate of $4.55 by $1.47. The firm had revenue of $6.34 billion for the quarter, compared to analyst estimates of $4.54 billion. Reinsurance Group of America had a return on equity of 15.94% and a net margin of 4.16%. During the same quarter last year, the firm posted $5.16 earnings per share. Analysts anticipate that Reinsurance Group of America will post 20.94 EPS for the current year.

Insider Activity

In other news, EVP John W. Hayden sold 1,767 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $206.85, for a total value of $365,503.95. Following the completion of the sale, the executive vice president now directly owns 16,490 shares in the company, valued at $3,410,956.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.37% of the company’s stock.

Institutional Trading of Reinsurance Group of America

A number of institutional investors and hedge funds have recently made changes to their positions in RGA. Norges Bank purchased a new stake in shares of Reinsurance Group of America during the fourth quarter worth approximately $122,301,000. Junto Capital Management LP purchased a new stake in Reinsurance Group of America in the 4th quarter valued at $92,083,000. Balyasny Asset Management L.P. purchased a new stake in Reinsurance Group of America in the 4th quarter valued at $67,177,000. Adage Capital Partners GP L.L.C. grew its holdings in Reinsurance Group of America by 966.7% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 320,000 shares of the insurance provider’s stock valued at $46,461,000 after buying an additional 290,000 shares in the last quarter. Finally, Corient Private Wealth LLC grew its holdings in Reinsurance Group of America by 1,965.4% in the 4th quarter. Corient Private Wealth LLC now owns 298,352 shares of the insurance provider’s stock valued at $48,267,000 after buying an additional 283,907 shares in the last quarter. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

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.