Reinsurance Group of America (NYSE:RGA) PT Raised to $241.00

Reinsurance Group of America (NYSE:RGA) had its target price hoisted by equities researchers at Evercore ISI from $225.00 to $241.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the insurance provider’s stock. Evercore ISI’s price target would indicate a potential upside of 18.92% from the stock’s current price.

A number of other brokerages have also recently issued reports on RGA. Piper Sandler upped their target price on Reinsurance Group of America from $195.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Keefe, Bruyette & Woods increased their target price on shares of Reinsurance Group of America from $220.00 to $235.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 7th. Wells Fargo & Company upped their target price on Reinsurance Group of America from $210.00 to $227.00 and gave the stock an “overweight” rating in a research report on Friday, May 10th. UBS Group raised their target price on Reinsurance Group of America from $223.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Finally, JPMorgan Chase & Co. upped their price target on Reinsurance Group of America from $189.00 to $195.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Two 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $213.36.

Reinsurance Group of America Price Performance

Shares of RGA stock traded down $4.37 on Wednesday, hitting $202.65. 23,298 shares of the company’s stock were exchanged, compared to its average volume of 350,537. The company has a 50 day moving average of $202.23 and a 200 day moving average of $184.22. The stock has a market cap of $13.33 billion, a P/E ratio of 15.75 and a beta of 0.92. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.19 and a quick ratio of 0.19. Reinsurance Group of America has a 12 month low of $135.07 and a 12 month high of $213.21.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Friday, May 3rd. The insurance provider reported $6.02 earnings per share for the quarter, beating analysts’ consensus estimates of $4.55 by $1.47. The company had revenue of $6.34 billion for the quarter, compared to the consensus estimate of $4.54 billion. Reinsurance Group of America had a net margin of 4.16% and a return on equity of 15.94%. During the same period last year, the company posted $5.16 EPS. On average, equities research analysts predict that Reinsurance Group of America will post 20.94 EPS for the current year.

Insider Activity

In other news, EVP John W. Hayden sold 1,767 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $206.85, for a total transaction of $365,503.95. Following the sale, the executive vice president now owns 16,490 shares in the company, valued at approximately $3,410,956.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.37% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. New Covenant Trust Company N.A. purchased a new stake in shares of Reinsurance Group of America in the 1st quarter valued at $28,000. Rise Advisors LLC bought a new position in shares of Reinsurance Group of America during the first quarter valued at about $29,000. Lindbrook Capital LLC boosted its holdings in shares of Reinsurance Group of America by 129.9% during the fourth quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 87 shares during the period. LRI Investments LLC purchased a new position in Reinsurance Group of America during the 1st quarter valued at about $33,000. Finally, Pineridge Advisors LLC bought a new stake in shares of Reinsurance Group of America in the 4th quarter worth approximately $26,000. 95.11% of the stock is currently 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.