JPMorgan Chase & Co. Issues Positive Forecast for Reinsurance Group of America (NYSE:RGA) Stock Price

Reinsurance Group of America (NYSE:RGA) had its price objective boosted by stock analysts at JPMorgan Chase & Co. from $293.00 to $297.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 12.78% from the stock’s current price.

RGA has been the subject of several other research reports. TD Cowen increased their price target on shares of Reinsurance Group of America from $212.00 to $235.00 and gave the stock a “hold” rating in a research report on Wednesday, July 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Reinsurance Group of America in a research report on Friday, August 7th. Barclays set a $292.00 price objective on Reinsurance Group of America in a research note on Thursday, October 8th. Wells Fargo & Company upped their target price on shares of Reinsurance Group of America from $291.00 to $292.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Morgan Stanley raised Reinsurance Group of America from an “equal weight” rating to an “overweight” rating and set a $295.00 price target on the stock in a research report on Monday, September 28th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $268.33.

Reinsurance Group of America Stock Up 0.9%

Shares of NYSE:RGA traded up $2.29 during trading on Thursday, reaching $263.34. 159,921 shares of the company traded hands, compared to its average volume of 372,843. The firm has a market cap of $17.20 billion, a P/E ratio of 11.55 and a beta of 0.45. The firm has a fifty day simple moving average of $248.35 and a 200 day simple moving average of $227.09. Reinsurance Group of America has a 1-year low of $178.21 and a 1-year high of $265.25. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.41.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, August 6th. The insurance provider reported $8.89 earnings per share for the quarter, beating the consensus estimate of $6.50 by $2.39. Reinsurance Group of America had a return on equity of 14.78% and a net margin of 5.81%. The company had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.67 billion. During the same period last year, the company earned $4.72 earnings per share. The business’s revenue was up 18.5% compared to the same quarter last year. Analysts anticipate that Reinsurance Group of America will post 29.71 earnings per share for the current fiscal year.

Insider Transactions at Reinsurance Group of America

In other Reinsurance Group of America news, EVP Jonathan Porter sold 8,589 shares of the stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $246.30, for a total value of $2,115,470.70. Following the completion of the sale, the executive vice president owned 14,885 shares in the company, valued at $3,666,175.50. This trade represents a 36.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.60% of the company’s stock.

Institutional Trading of Reinsurance Group of America

Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC boosted its position in Reinsurance Group of America by 26.5% during the first quarter. SG Americas Securities LLC now owns 89,847 shares of the insurance provider’s stock worth $18,343,000 after purchasing an additional 18,826 shares during the period. Engineers Gate Manager LP boosted its stake in Reinsurance Group of America by 26.8% in the 2nd quarter. Engineers Gate Manager LP now owns 25,218 shares of the insurance provider’s stock valued at $5,363,000 after purchasing an additional 5,331 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Reinsurance Group of America in the 2nd quarter valued at $1,489,000. Interval Partners LP boosted its stake in Reinsurance Group of America by 186.5% in the 4th quarter. Interval Partners LP now owns 69,739 shares of the insurance provider’s stock valued at $14,189,000 after purchasing an additional 45,399 shares during the period. Finally, WCM Investment Management LLC grew its holdings in Reinsurance Group of America by 3.0% in the 1st quarter. WCM Investment Management LLC now owns 2,830,620 shares of the insurance provider’s stock valued at $566,803,000 after buying an additional 82,681 shares in the last quarter. 95.11% of the stock is owned by institutional investors and hedge funds.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated (NYSE:RGA) is a global provider of life and health reinsurance. The company helps insurance organizations manage mortality, longevity, morbidity and other insurance risks by assuming portions of their business and providing capital, risk-management expertise and specialized underwriting support.

RGA offers traditional reinsurance and financial solutions for individual life insurance, group life and health coverage, retirement and annuity products, long-term care and disability insurance.