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

Reinsurance Group of America (NYSE:RGA) had its target price lifted by investment analysts at Keefe, Bruyette & Woods from $220.00 to $235.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 14.95% from the stock’s current price.

A number of other analysts have also recently commented on RGA. Royal Bank of Canada reaffirmed an “outperform” rating and set a $212.00 price target on shares of Reinsurance Group of America in a research report on Friday, April 12th. Morgan Stanley boosted their price objective on Reinsurance Group of America from $178.00 to $185.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. JPMorgan Chase & Co. boosted their price objective on Reinsurance Group of America from $189.00 to $195.00 and gave the company a “neutral” rating in a report on Friday. Wells Fargo & Company boosted their price objective on Reinsurance Group of America from $193.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Finally, Piper Sandler upped their price target on Reinsurance Group of America from $195.00 to $220.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Two equities research 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’s stock. According to data from MarketBeat.com, Reinsurance Group of America has an average rating of “Moderate Buy” and a consensus target price of $196.00.

Reinsurance Group of America Trading Up 1.8 %

RGA traded up $3.52 during trading on Tuesday, hitting $204.44. 124,998 shares of the stock were exchanged, compared to its average volume of 356,927. The firm has a 50 day simple moving average of $187.17 and a 200 day simple moving average of $171.43. The firm has a market cap of $13.45 billion, a price-to-earnings ratio of 15.81 and a beta of 0.88. Reinsurance Group of America has a 1 year low of $135.07 and a 1 year high of $205.59. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.17 and a current ratio of 0.19.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Friday, May 3rd. The insurance provider reported $6.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.55 by $1.47. Reinsurance Group of America had a return on equity of 15.94% and a net margin of 4.16%. The business had revenue of $6.34 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same period last year, the business posted $5.16 EPS. As a group, equities analysts expect that Reinsurance Group of America will post 19.41 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Todd C. Larson sold 2,966 shares of Reinsurance Group of America stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $182.88, for a total value of $542,422.08. Following the transaction, the chief financial officer now directly owns 49,549 shares in the company, valued at approximately $9,061,521.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Reinsurance Group of America news, EVP William L. Hutton sold 1,588 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $171.83, for a total transaction of $272,866.04. Following the sale, the executive vice president now directly owns 13,625 shares in the company, valued at $2,341,183.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Todd C. Larson sold 2,966 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $182.88, for a total transaction of $542,422.08. Following the transaction, the chief financial officer now owns 49,549 shares of the company’s stock, valued at $9,061,521.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,462 shares of company stock valued at $1,162,239. Insiders own 1.37% of the company’s stock.

Institutional Trading of Reinsurance Group of America

Large investors have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. grew its position in shares of Reinsurance Group of America by 54.6% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 6,418 shares of the insurance provider’s stock valued at $932,000 after purchasing an additional 2,267 shares during the period. Bank of New York Mellon Corp raised its position in shares of Reinsurance Group of America by 1.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 918,023 shares of the insurance provider’s stock worth $133,288,000 after buying an additional 13,229 shares during the period. Mackenzie Financial Corp lifted its stake in shares of Reinsurance Group of America by 47.5% during the third quarter. Mackenzie Financial Corp now owns 12,880 shares of the insurance provider’s stock worth $1,833,000 after purchasing an additional 4,148 shares in the last quarter. Advisor Partners II LLC boosted its position in shares of Reinsurance Group of America by 15.7% in the third quarter. Advisor Partners II LLC now owns 5,999 shares of the insurance provider’s stock worth $871,000 after buying an additional 814 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Reinsurance Group of America by 1.3% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 21,536 shares of the insurance provider’s stock valued at $3,127,000 after buying an additional 272 shares in the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.

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.