Reinsurance Group of America (NYSE:RGA) Price Target Cut to $250.00

Reinsurance Group of America (NYSE:RGA) had its target price dropped by equities research analysts at Barclays from $255.00 to $250.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the insurance provider’s stock. Barclays‘s target price indicates a potential upside of 16.87% from the company’s current price.

A number of other equities analysts also recently issued reports on RGA. Morgan Stanley cut their target price on Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Piper Sandler raised their price objective on shares of Reinsurance Group of America from $237.00 to $242.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. boosted their price target on Reinsurance Group of America from $220.00 to $222.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. Royal Bank of Canada raised their price objective on Reinsurance Group of America from $225.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Finally, Raymond James upped their target price on Reinsurance Group of America from $228.00 to $250.00 and gave the company a “strong-buy” rating in a report on Tuesday, September 24th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Reinsurance Group of America currently has a consensus rating of “Buy” and a consensus target price of $225.50.

Reinsurance Group of America Price Performance

Shares of Reinsurance Group of America stock traded up $2.45 on Tuesday, hitting $213.91. The company’s stock had a trading volume of 155,487 shares, compared to its average volume of 357,964. The company has a market capitalization of $14.07 billion, a price-to-earnings ratio of 16.62 and a beta of 0.91. Reinsurance Group of America has a 1 year low of $143.89 and a 1 year high of $227.87. The firm has a fifty day moving average price of $213.02 and a 200-day moving average price of $206.09. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.17 and a current ratio of 0.17.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.94 by $0.54. The company had revenue of $4.88 billion for the quarter, compared to analyst estimates of $5.07 billion. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.40 earnings per share. As a group, sell-side analysts anticipate that Reinsurance Group of America will post 21.7 earnings per share for the current fiscal year.

Insider Activity

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the company’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 $2,705,812.29. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.37% of the company’s stock.

Institutional Investors Weigh In On Reinsurance Group of America

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RGA. Pineridge Advisors LLC bought a new stake in Reinsurance Group of America during the fourth quarter worth approximately $26,000. New Covenant Trust Company N.A. acquired a new stake in Reinsurance Group of America during the first quarter worth $28,000. International Assets Investment Management LLC bought a new position in Reinsurance Group of America during the second quarter worth about $28,000. Rise Advisors LLC acquired a new position in Reinsurance Group of America during the first quarter worth $29,000. Finally, Family Firm Inc. acquired a new position in Reinsurance Group of America in the second quarter valued at about $29,000. 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 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.