JPMorgan Chase & Co. Raises Reinsurance Group of America (NYSE:RGA) Price Target to $286.00

Reinsurance Group of America (NYSE:RGA) had its target price upped by stock analysts at JPMorgan Chase & Co. from $270.00 to $286.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 19.70% from the company’s current price.

A number of other research firms have also weighed in on RGA. UBS Group upped their target price on shares of Reinsurance Group of America from $220.00 to $236.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Barclays raised their price target on shares of Reinsurance Group of America from $268.00 to $278.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Wells Fargo & Company boosted their price target on shares of Reinsurance Group of America from $261.00 to $269.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Reinsurance Group of America in a report on Wednesday, May 13th. Finally, Evercore reiterated an “outperform” rating and issued a $267.00 price objective on shares of Reinsurance Group of America in a research report on Monday, May 18th. Seven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Reinsurance Group of America presently has a consensus rating of “Moderate Buy” and an average price target of $257.50.

Reinsurance Group of America Price Performance

NYSE RGA traded down $1.95 during trading hours on Tuesday, hitting $238.93. The company had a trading volume of 42,412 shares, compared to its average volume of 373,301. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.14 and a current ratio of 0.14. The firm has a market capitalization of $15.65 billion, a price-to-earnings ratio of 12.93 and a beta of 0.47. Reinsurance Group of America has a 52 week low of $165.52 and a 52 week high of $245.00. The firm has a 50 day simple moving average of $214.60 and a 200 day simple moving average of $209.93.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Thursday, May 7th. The insurance provider reported $6.97 earnings per share for the quarter, beating the consensus estimate of $6.03 by $0.94. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.The firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.47 billion. During the same period in the prior year, the business posted $5.66 earnings per share. The company’s revenue was up 23.5% on a year-over-year basis. Equities research analysts expect that Reinsurance Group of America will post 26.86 earnings per share for the current year.

Insider Activity at Reinsurance Group of America

In other Reinsurance Group of America news, EVP John W. Hayden sold 414 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $214.95, for a total value of $88,989.30. Following the completion of the transaction, the executive vice president owned 20,949 shares of the company’s stock, valued at $4,502,987.55. The trade was a 1.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ronald Herrmann sold 7,000 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $210.58, for a total transaction of $1,474,060.00. Following the completion of the transaction, the executive vice president directly owned 3,938 shares in the company, valued at $829,264.04. The trade was a 64.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Reinsurance Group of America

A number of hedge funds and other institutional investors have recently modified their holdings of RGA. Wedge Capital Management L L P NC increased its position in shares of Reinsurance Group of America by 965.2% during the 2nd quarter. Wedge Capital Management L L P NC now owns 179,440 shares of the insurance provider’s stock valued at $38,158,000 after purchasing an additional 162,594 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in Reinsurance Group of America by 4.7% in the second quarter. Handelsbanken Fonder AB now owns 17,900 shares of the insurance provider’s stock worth $3,806,000 after buying an additional 800 shares in the last quarter. Elevation Wealth Partners LLC boosted its stake in Reinsurance Group of America by 9.5% in the second quarter. Elevation Wealth Partners LLC now owns 702 shares of the insurance provider’s stock worth $149,000 after buying an additional 61 shares in the last quarter. PensionDanmark Pensionsforsikringsaktieselskab boosted its stake in Reinsurance Group of America by 6.0% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 32,673 shares of the insurance provider’s stock worth $6,948,000 after buying an additional 1,845 shares in the last quarter. Finally, Martin Capital Partners LLC grew its position in Reinsurance Group of America by 13.3% during the second quarter. Martin Capital Partners LLC now owns 32,560 shares of the insurance provider’s stock valued at $6,924,000 after acquiring an additional 3,819 shares during the last quarter. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

About Reinsurance Group of America

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.