Reinsurance Group of America (NYSE:RGA) Stock Price Expected to Rise, Barclays Analyst Says

Reinsurance Group of America (NYSE:RGA) had its price objective lifted by equities research analysts at Barclays from $250.00 to $255.00 in a report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the insurance provider’s stock. Barclays‘s price target points to a potential upside of 11.02% from the company’s current price.

Several other brokerages have also weighed in on RGA. Wells Fargo & Company raised their price objective on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Piper Sandler raised their price target on shares of Reinsurance Group of America from $237.00 to $242.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods upgraded shares of Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, October 3rd. TD Cowen initiated coverage on shares of Reinsurance Group of America in a research report on Wednesday, October 9th. They set a “hold” rating and a $235.00 target price on the stock. Finally, Royal Bank of Canada upped their price target on Reinsurance Group of America from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $227.77.

Reinsurance Group of America Price Performance

Shares of NYSE:RGA opened at $229.68 on Friday. The company has a market cap of $15.13 billion, a P/E ratio of 21.09 and a beta of 0.92. Reinsurance Group of America has a 12-month low of $157.48 and a 12-month high of $233.14. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.45. The company’s fifty day moving average is $218.75 and its two-hundred day moving average is $212.65.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Thursday, October 31st. The insurance provider reported $6.13 EPS for the quarter, beating analysts’ consensus estimates of $5.31 by $0.82. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.29 billion. During the same quarter in the previous year, the company posted $5.57 earnings per share. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. Equities analysts expect that Reinsurance Group of America will post 21.93 earnings per share for the current fiscal year.

Insider Activity at Reinsurance Group of America

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $218.97, for a total value of $264,734.73. Following the completion of the transaction, the executive vice president now directly owns 12,357 shares of the company’s stock, valued at approximately $2,705,812.29. The trade was a 8.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.37% of the company’s stock.

Institutional Trading of Reinsurance Group of America

Several hedge funds have recently modified their holdings of RGA. GAMMA Investing LLC lifted its holdings in Reinsurance Group of America by 8.9% during the 3rd quarter. GAMMA Investing LLC now owns 609 shares of the insurance provider’s stock worth $133,000 after buying an additional 50 shares in the last quarter. Resonant Capital Advisors LLC raised its position in shares of Reinsurance Group of America by 1.2% during the third quarter. Resonant Capital Advisors LLC now owns 4,368 shares of the insurance provider’s stock worth $952,000 after acquiring an additional 53 shares during the last quarter. GHP Investment Advisors Inc. lifted its stake in shares of Reinsurance Group of America by 0.7% during the second quarter. GHP Investment Advisors Inc. now owns 9,462 shares of the insurance provider’s stock valued at $1,942,000 after acquiring an additional 62 shares during the period. Baron Wealth Management LLC boosted its holdings in Reinsurance Group of America by 4.5% in the third quarter. Baron Wealth Management LLC now owns 1,485 shares of the insurance provider’s stock valued at $324,000 after acquiring an additional 64 shares during the last quarter. Finally, Tectonic Advisors LLC increased its position in Reinsurance Group of America by 3.0% in the third quarter. Tectonic Advisors LLC now owns 2,358 shares of the insurance provider’s stock worth $514,000 after purchasing an additional 69 shares during the period. 95.11% of the stock is owned by institutional investors.

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.