Reinsurance Group of America (NYSE:RGA) Given New $242.00 Price Target at Piper Sandler

Reinsurance Group of America (NYSE:RGA) had its target price upped by analysts at Piper Sandler from $237.00 to $242.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the insurance provider’s stock. Piper Sandler’s price objective points to a potential upside of 11.53% from the company’s current price.

RGA has been the subject of several other reports. StockNews.com upgraded shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Friday, September 27th. Citigroup raised their price objective on shares of Reinsurance Group of America from $194.00 to $252.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. lifted their price objective on Reinsurance Group of America from $208.00 to $220.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Wells Fargo & Company increased their target price on Reinsurance Group of America from $236.00 to $239.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Finally, Evercore ISI boosted their price target on Reinsurance Group of America from $225.00 to $241.00 and gave the stock an “outperform” rating in a report on Wednesday, June 26th. Two 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.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $225.75.

Reinsurance Group of America Price Performance

Shares of NYSE:RGA opened at $216.99 on Wednesday. The firm has a market capitalization of $14.29 billion, a price-to-earnings ratio of 16.86 and a beta of 0.91. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.17 and a quick ratio of 0.17. The business’s 50 day simple moving average is $213.35 and its 200-day simple moving average is $205.22. Reinsurance Group of America has a 12 month low of $140.39 and a 12 month high of $227.87.

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

Insider Activity at Reinsurance Group of America

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

Hedge Funds Weigh In On Reinsurance Group of America

Hedge funds have recently made changes to their positions in the stock. KBC Group NV raised its holdings in Reinsurance Group of America by 72.7% in the fourth quarter. KBC Group NV now owns 1,228 shares of the insurance provider’s stock valued at $199,000 after buying an additional 517 shares during the period. Pinebridge Investments L.P. raised its stake in shares of Reinsurance Group of America by 10.3% in the 4th quarter. Pinebridge Investments L.P. now owns 7,122 shares of the insurance provider’s stock valued at $1,152,000 after acquiring an additional 667 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Reinsurance Group of America by 1.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 350,915 shares of the insurance provider’s stock valued at $56,771,000 after acquiring an additional 3,801 shares in the last quarter. Quadrature Capital Ltd boosted its position in Reinsurance Group of America by 1,124.1% during the 4th quarter. Quadrature Capital Ltd now owns 28,043 shares of the insurance provider’s stock worth $4,536,000 after purchasing an additional 25,752 shares during the period. Finally, Natixis Investment Managers International increased its holdings in Reinsurance Group of America by 1.7% in the 4th quarter. Natixis Investment Managers International now owns 6,515 shares of the insurance provider’s stock valued at $1,054,000 after purchasing an additional 110 shares in the last quarter. Institutional investors and hedge funds 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.