Wells Fargo & Company Boosts Reinsurance Group of America (NYSE:RGA) Price Target to $264.00

Reinsurance Group of America (NYSE:RGA) had its price objective raised by Wells Fargo & Company from $263.00 to $264.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 32.46% from the stock’s previous close.

A number of other research analysts have also recently issued reports on RGA. Barclays reduced their price objective on Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Piper Sandler reduced their price target on Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. JPMorgan Chase & Co. boosted their price objective on Reinsurance Group of America from $227.00 to $232.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Morgan Stanley cut their target price on shares of Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $245.00 target price on shares of Reinsurance Group of America in a research note on Monday, February 10th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Reinsurance Group of America has an average rating of “Moderate Buy” and a consensus price target of $229.62.

Reinsurance Group of America Stock Performance

Shares of NYSE RGA opened at $199.31 on Tuesday. Reinsurance Group of America has a 1-year low of $171.84 and a 1-year high of $233.81. The company has a current ratio of 0.15, a quick ratio of 0.17 and a debt-to-equity ratio of 0.46. The stock’s 50-day moving average is $214.44 and its 200 day moving average is $216.23. The stock has a market cap of $13.16 billion, a price-to-earnings ratio of 18.56 and a beta of 0.93.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings data on Thursday, February 6th. The insurance provider reported $4.99 earnings per share for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.23). Reinsurance Group of America had a return on equity of 14.55% and a net margin of 3.24%. On average, sell-side analysts anticipate that Reinsurance Group of America will post 22.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Eagle Asset Management Inc. lifted its stake in shares of Reinsurance Group of America by 15.7% in the 3rd quarter. Eagle Asset Management Inc. now owns 112,901 shares of the insurance provider’s stock valued at $25,297,000 after purchasing an additional 15,289 shares during the period. Principal Financial Group Inc. raised its holdings in Reinsurance Group of America by 19.2% in the fourth quarter. Principal Financial Group Inc. now owns 182,069 shares of the insurance provider’s stock worth $38,895,000 after purchasing an additional 29,352 shares in the last quarter. Martin Capital Partners LLC bought a new position in Reinsurance Group of America in the fourth quarter worth $1,788,000. Nordea Investment Management AB lifted its position in Reinsurance Group of America by 4.8% during the fourth quarter. Nordea Investment Management AB now owns 89,837 shares of the insurance provider’s stock valued at $19,232,000 after buying an additional 4,119 shares during the period. Finally, Pacer Advisors Inc. grew its position in shares of Reinsurance Group of America by 23.8% in the 4th quarter. Pacer Advisors Inc. now owns 14,402 shares of the insurance provider’s stock worth $3,077,000 after buying an additional 2,768 shares during the period. 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.