Raymond James Increases Reinsurance Group of America (NYSE:RGA) Price Target to $250.00

Reinsurance Group of America (NYSE:RGA) had its target price increased by analysts at Raymond James from $228.00 to $250.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “strong-buy” rating on the insurance provider’s stock. Raymond James’ target price indicates a potential upside of 14.25% from the company’s previous close.

Several other research firms have also issued reports on RGA. Evercore ISI raised their price objective on Reinsurance Group of America from $225.00 to $241.00 and gave the company an “outperform” rating in a research note on Wednesday, June 26th. JPMorgan Chase & Co. upped their price target on shares of Reinsurance Group of America from $208.00 to $220.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Barclays started coverage on Reinsurance Group of America in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $255.00 price target for the company. Wells Fargo & Company boosted their price objective on shares of Reinsurance Group of America from $236.00 to $239.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Finally, Morgan Stanley reduced their price objective on shares of 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. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Reinsurance Group of America has an average rating of “Moderate Buy” and an average price target of $225.17.

Reinsurance Group of America Price Performance

Shares of RGA stock traded down $1.44 during mid-day trading on Tuesday, hitting $218.82. 71,535 shares of the stock traded hands, compared to its average volume of 357,834. The company’s 50-day simple moving average is $213.08 and its 200-day simple moving average is $203.80. The firm has a market cap of $14.40 billion, a price-to-earnings ratio of 17.05 and a beta of 0.91. Reinsurance Group of America has a twelve month low of $140.39 and a twelve month high of $227.87. 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 issued its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, topping the consensus estimate of $4.94 by $0.54. The business had revenue of $4.88 billion for the quarter, compared to the consensus estimate 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 revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the business posted $4.40 EPS. As a group, equities research analysts expect that Reinsurance Group of America will post 21.7 earnings per share for the current year.

Insider Transactions at Reinsurance Group of America

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total transaction of $264,734.73. Following the completion of the transaction, the executive vice president now owns 12,357 shares of the company’s stock, valued at $2,705,812.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.37% of the company’s stock.

Institutional Investors Weigh In On Reinsurance Group of America

A number of institutional investors have recently bought and sold shares of RGA. Earnest Partners LLC grew its holdings in shares of Reinsurance Group of America by 1.9% during the 2nd quarter. Earnest Partners LLC now owns 2,628,129 shares of the insurance provider’s stock valued at $539,476,000 after acquiring an additional 50,228 shares in the last quarter. Sei Investments Co. raised its position in Reinsurance Group of America by 5.9% in the 2nd quarter. Sei Investments Co. now owns 825,719 shares of the insurance provider’s stock valued at $169,497,000 after buying an additional 45,709 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Reinsurance Group of America by 2.8% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 584,137 shares of the insurance provider’s stock worth $112,668,000 after acquiring an additional 15,926 shares during the last quarter. Junto Capital Management LP acquired a new position in Reinsurance Group of America in the fourth quarter valued at about $92,083,000. Finally, Zurich Insurance Group Ltd FI increased its stake in shares of Reinsurance Group of America by 681.8% in the second quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider’s stock valued at $104,244,000 after buying an additional 442,883 shares during the period. 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 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.