Barclays Forecasts Strong Price Appreciation for Reinsurance Group of America (NYSE:RGA) Stock

Reinsurance Group of America (NYSE:RGA) had its target price increased by equities research analysts at Barclays from $245.00 to $256.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the insurance provider’s stock. Barclays‘s price target would suggest a potential upside of 21.10% from the stock’s previous close.

A number of other research analysts also recently issued reports on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Reinsurance Group of America in a report on Monday, December 29th. TD Cowen reiterated a “hold” rating on shares of Reinsurance Group of America in a report on Wednesday, January 28th. Morgan Stanley upped their target price on Reinsurance Group of America from $208.00 to $223.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 3rd. Piper Sandler reiterated an “overweight” rating and set a $263.00 target price on shares of Reinsurance Group of America in a report on Friday, February 6th. Finally, Wells Fargo & Company upped their target price on Reinsurance Group of America from $238.00 to $261.00 and gave the stock an “overweight” rating in a report on Wednesday, February 25th. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Reinsurance Group of America currently has an average rating of “Moderate Buy” and a consensus price target of $251.17.

Reinsurance Group of America Trading Up 1.5%

NYSE:RGA traded up $3.05 during mid-day trading on Wednesday, reaching $211.40. 113,270 shares of the company’s stock traded hands, compared to its average volume of 383,797. Reinsurance Group of America has a 12-month low of $164.58 and a 12-month high of $229.21. The firm has a market capitalization of $13.86 billion, a price-to-earnings ratio of 11.91 and a beta of 0.52. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.14 and a quick ratio of 0.14. The company has a 50 day moving average price of $209.74 and a 200-day moving average price of $199.74.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Thursday, February 5th. The insurance provider reported $7.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.86 by $1.89. Reinsurance Group of America had a return on equity of 12.99% and a net margin of 4.99%.The company had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.25 billion. During the same quarter in the previous year, the business earned $4.99 EPS. Reinsurance Group of America’s revenue was up 26.6% compared to the same quarter last year. On average, sell-side analysts predict that Reinsurance Group of America will post 22.9 earnings per share for the current year.

Institutional Trading of Reinsurance Group of America

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. lifted its position in Reinsurance Group of America by 44.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 221,198 shares of the insurance provider’s stock valued at $43,554,000 after acquiring an additional 67,880 shares in the last quarter. Focus Partners Wealth lifted its position in Reinsurance Group of America by 121.2% in the 1st quarter. Focus Partners Wealth now owns 2,676 shares of the insurance provider’s stock valued at $527,000 after acquiring an additional 1,466 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in Reinsurance Group of America by 17.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 388 shares of the insurance provider’s stock valued at $76,000 after acquiring an additional 58 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Reinsurance Group of America by 445.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 982 shares of the insurance provider’s stock valued at $195,000 after acquiring an additional 802 shares in the last quarter. Finally, Gamco Investors INC. ET AL bought a new position in Reinsurance Group of America in the 2nd quarter valued at approximately $1,788,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.