Reinsurance Group of America (NYSE:RGA) Given New $250.00 Price Target at Raymond James

Reinsurance Group of America (NYSE:RGA) had its target price hoisted by investment analysts at Raymond James from $228.00 to $250.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “strong-buy” rating on the insurance provider’s stock. Raymond James’ price target points to a potential upside of 14.25% from the stock’s previous close.

RGA has been the subject of a number of other reports. Morgan Stanley lowered their target price on shares of Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Barclays assumed coverage on shares of Reinsurance Group of America in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $255.00 target price on the stock. UBS Group raised their target price on Reinsurance Group of America from $223.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Wells Fargo & Company increased their price target on shares of Reinsurance Group of America from $236.00 to $239.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Reinsurance Group of America from $208.00 to $220.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $225.17.

Reinsurance Group of America Stock Down 0.7 %

Reinsurance Group of America stock traded down $1.44 during mid-day trading on Tuesday, reaching $218.82. The stock had a trading volume of 71,535 shares, compared to its average volume of 357,834. The company has a market capitalization of $14.40 billion, a price-to-earnings ratio of 17.05 and a beta of 0.91. The company has a 50-day moving average price of $213.08 and a two-hundred day moving average price of $203.80. Reinsurance Group of America has a one year low of $140.39 and a one year high of $227.87. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.17 and a quick ratio of 0.17.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, beating the consensus estimate of $4.94 by $0.54. The firm had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $5.07 billion. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The company’s revenue was up 17.4% on a year-over-year basis. During the same period last year, the firm earned $4.40 EPS. On average, analysts expect that Reinsurance Group of America will post 21.7 EPS 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 Reinsurance Group of America 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 completion of the transaction, the executive vice president now directly owns 12,357 shares of the company’s stock, valued at $2,705,812.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.37% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Reinsurance Group of America

A number of institutional investors and hedge funds have recently bought and sold shares of RGA. Junto Capital Management LP acquired a new position in Reinsurance Group of America during the fourth quarter worth $92,083,000. Zurich Insurance Group Ltd FI lifted its stake in Reinsurance Group of America by 681.8% in the second quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider’s stock valued at $104,244,000 after buying an additional 442,883 shares during the last quarter. Balyasny Asset Management L.P. purchased a new position in Reinsurance Group of America during the fourth quarter worth about $67,177,000. Public Employees Retirement Association of Colorado grew its stake in Reinsurance Group of America by 713.2% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 291,125 shares of the insurance provider’s stock valued at $47,098,000 after acquiring an additional 255,326 shares during the last quarter. Finally, Millennium Management LLC grew its stake in Reinsurance Group of America by 43.8% in the 2nd quarter. Millennium Management LLC now owns 437,266 shares of the insurance provider’s stock worth $89,758,000 after acquiring an additional 133,212 shares during the period. 95.11% of the stock is owned by institutional investors.

Reinsurance Group of America Company Profile

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.