Reinsurance Group of America (NYSE:RGA) Price Target Raised to $222.00

Reinsurance Group of America (NYSE:RGA) had its price target raised by investment analysts at JPMorgan Chase & Co. from $220.00 to $222.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 3.28% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Evercore ISI increased their target price on shares of Reinsurance Group of America from $225.00 to $241.00 and gave the company an “outperform” rating in a research report on Wednesday, June 26th. Jefferies Financial Group lifted their target price on shares of Reinsurance Group of America from $63.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Barclays began coverage on Reinsurance Group of America in a report on Wednesday, September 4th. They set an “overweight” rating and a $255.00 target price for the company. Citigroup increased 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. Finally, StockNews.com upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Friday, September 27th. 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 stock. According to data from MarketBeat, Reinsurance Group of America currently has an average rating of “Moderate Buy” and a consensus target price of $225.92.

Reinsurance Group of America Stock Down 1.2 %

RGA stock traded down $2.69 during trading on Thursday, hitting $214.94. 29,913 shares of the company’s stock traded hands, compared to its average volume of 353,951. The firm has a market capitalization of $14.16 billion, a P/E ratio of 16.73 and a beta of 0.91. Reinsurance Group of America has a 1 year low of $140.39 and a 1 year high of $227.87. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.52. The business has a fifty day simple moving average of $213.33 and a two-hundred day simple moving average of $205.30.

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

Insider Buying and Selling

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the 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 owns 12,357 shares of the company’s stock, valued at approximately $2,705,812.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.37% of the stock is owned by insiders.

Hedge Funds Weigh In On Reinsurance Group of America

A number of institutional investors and hedge funds have recently modified their holdings of RGA. KBC Group NV lifted its stake in Reinsurance Group of America by 72.7% during the fourth quarter. KBC Group NV now owns 1,228 shares of the insurance provider’s stock worth $199,000 after purchasing an additional 517 shares during the last quarter. Pinebridge Investments L.P. grew its position 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 buying an additional 667 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Reinsurance Group of America by 1.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 350,915 shares of the insurance provider’s stock valued at $56,771,000 after buying an additional 3,801 shares during the last quarter. Quadrature Capital Ltd raised its stake 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 acquiring an additional 25,752 shares in the last quarter. Finally, Natixis Investment Managers International lifted its position in Reinsurance Group of America by 1.7% in the fourth quarter. Natixis Investment Managers International now owns 6,515 shares of the insurance provider’s stock valued at $1,054,000 after acquiring an additional 110 shares during 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.