Reinsurance Group of America (NYSE:RGA) Price Target Cut to $252.00 by Analysts at Barclays

Reinsurance Group of America (NYSE:RGA - Get Free Report) had its target price cut by stock analysts at Barclays from $255.00 to $252.00 in a report released on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the insurance provider's stock. Barclays's price objective points to a potential upside of 15.44% from the company's previous close.

Other analysts have also recently issued reports about the company. Wells Fargo & Company boosted their price objective on 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. JPMorgan Chase & Co. boosted their price target on shares of Reinsurance Group of America from $220.00 to $222.00 and gave the company a "neutral" rating in a report on Thursday, October 3rd. Royal Bank of Canada raised their price objective on shares of Reinsurance Group of America from $235.00 to $245.00 and gave the stock an "outperform" rating in a report on Monday, November 4th. Raymond James upped their target price on shares of Reinsurance Group of America from $228.00 to $250.00 and gave the company a "strong-buy" rating in a research note on Tuesday, September 24th. Finally, Piper Sandler raised their price target on shares of Reinsurance Group of America from $237.00 to $242.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 2nd. Three 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $227.54.

Reinsurance Group of America Stock Performance

NYSE:RGA traded down $0.37 during trading hours on Monday, hitting $218.30. 623,851 shares of the company traded hands, compared to its average volume of 518,850. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $14.38 billion, a price-to-earnings ratio of 20.05 and a beta of 0.94. The firm has a 50-day moving average of $218.98 and a 200 day moving average of $214.93. Reinsurance Group of America has a twelve month low of $163.81 and a twelve month high of $233.81.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last released its earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share for the quarter, beating the consensus estimate of $5.31 by $0.82. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%. The business had revenue of $5.65 billion during the quarter, compared to analysts' expectations of $5.29 billion. During the same quarter last year, the company earned $5.57 earnings per share. The firm's revenue was up 9.7% on a year-over-year basis. On average, analysts forecast that Reinsurance Group of America will post 21.67 EPS for the current year.

Hedge Funds Weigh In On Reinsurance Group of America

A number of institutional investors have recently modified their holdings of the stock. WCM Investment Management LLC increased its holdings in shares of Reinsurance Group of America by 1,208.5% in the third quarter. WCM Investment Management LLC now owns 2,447,668 shares of the insurance provider's stock valued at $527,742,000 after purchasing an additional 2,260,605 shares in the last quarter. Zurich Insurance Group Ltd FI increased its stake in shares of Reinsurance Group of America by 681.8% in the 2nd 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. Millennium Management LLC increased its stake in shares of Reinsurance Group of America by 43.8% in the 2nd quarter. Millennium Management LLC now owns 437,266 shares of the insurance provider's stock valued at $89,758,000 after buying an additional 133,212 shares during the period. JPMorgan Chase & Co. raised its position in shares of Reinsurance Group of America by 47.7% during the third quarter. JPMorgan Chase & Co. now owns 364,953 shares of the insurance provider's stock worth $79,512,000 after acquiring an additional 117,829 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in Reinsurance Group of America in the third quarter valued at about $11,803,000. 95.11% of the stock is 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.