Reinsurance Group of America (NYSE:RGA) Raised to “Buy” at StockNews.com

Reinsurance Group of America (NYSE:RGA) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

A number of other equities analysts have also commented on the company. Raymond James lifted their price objective on Reinsurance Group of America from $228.00 to $250.00 and gave the stock a “strong-buy” rating in a research note on Tuesday. Morgan Stanley cut their price target on Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Piper Sandler increased their price objective on Reinsurance Group of America from $228.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, June 28th. Evercore ISI boosted their target price on shares of Reinsurance Group of America from $225.00 to $241.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 26th. Finally, Citigroup upped their target price on shares of Reinsurance Group of America from $194.00 to $252.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $225.17.

Reinsurance Group of America Stock Performance

Reinsurance Group of America stock traded down $2.97 during trading hours on Friday, reaching $215.61. 383,140 shares of the company were exchanged, compared to its average volume of 357,157. Reinsurance Group of America has a 12 month low of $140.39 and a 12 month high of $227.87. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.52. The stock has a 50-day moving average of $213.34 and a 200 day moving average of $204.26. The firm has a market cap of $14.19 billion, a price-to-earnings ratio of 16.75 and a beta of 0.91.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.94 by $0.54. The business had revenue of $4.88 billion for the quarter, compared to analyst estimates of $5.07 billion. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. Reinsurance Group of America’s revenue was up 17.4% compared to the same quarter last year. During the same period last year, the business posted $4.40 EPS. As a group, research analysts anticipate that Reinsurance Group of America will post 21.7 earnings per share for the current year.

Insider Activity

In other news, EVP William L. Hutton sold 1,209 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $218.97, for a total value of $264,734.73. Following the sale, the executive vice president now owns 12,357 shares of the company’s stock, valued at approximately $2,705,812.29. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.37% of the company’s stock.

Institutional Investors Weigh In On Reinsurance Group of America

Large investors have recently bought and sold shares of the business. Meeder Asset Management Inc. acquired a new position in Reinsurance Group of America in the first quarter worth $675,000. Price T Rowe Associates Inc. MD grew its holdings in Reinsurance Group of America by 22.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 143,178 shares of the insurance provider’s stock worth $27,617,000 after acquiring an additional 26,306 shares during the last quarter. Junto Capital Management LP acquired a new stake in Reinsurance Group of America in the 4th quarter valued at about $92,083,000. Mitsubishi UFJ Trust & Banking Corp increased its position in Reinsurance Group of America by 50.9% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 7,486 shares of the insurance provider’s stock valued at $1,459,000 after acquiring an additional 2,524 shares in the last quarter. Finally, Dean Capital Management raised its stake in shares of Reinsurance Group of America by 19.4% in the fourth quarter. Dean Capital Management now owns 10,086 shares of the insurance provider’s stock worth $1,632,000 after acquiring an additional 1,636 shares during the last quarter. 95.11% of the stock is currently owned by 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.