Reinsurance Group of America (NYSE:RGA) Price Target Raised to $245.00

Reinsurance Group of America (NYSE:RGA - Get Free Report) had its target price upped by stock analysts at Royal Bank of Canada from $235.00 to $245.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an "outperform" rating on the insurance provider's stock. Royal Bank of Canada's price target would indicate a potential upside of 15.81% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the company. TD Cowen assumed coverage on Reinsurance Group of America in a report on Wednesday, October 9th. They set a "hold" rating and a $235.00 price objective on the stock. StockNews.com upgraded Reinsurance Group of America from a "hold" rating to a "buy" rating in a report on Thursday, October 17th. Raymond James increased their price objective on shares of Reinsurance Group of America from $228.00 to $250.00 and gave the stock a "strong-buy" rating in a report on Tuesday, September 24th. Barclays decreased their target price on shares of Reinsurance Group of America from $255.00 to $250.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 8th. Finally, Piper Sandler upped 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 report on Wednesday, October 2nd. Three research 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's stock. According to data from MarketBeat, Reinsurance Group of America presently has a consensus rating of "Moderate Buy" and an average price target of $227.38.

Reinsurance Group of America Price Performance

RGA stock traded down $3.55 during trading on Monday, hitting $211.55. The stock had a trading volume of 368,181 shares, compared to its average volume of 356,904. The stock has a market cap of $13.93 billion, a price-to-earnings ratio of 19.59 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.17 and a current ratio of 0.17. The company's 50 day moving average price is $215.72 and its two-hundred day moving average price is $209.43. Reinsurance Group of America has a 1-year low of $151.90 and a 1-year high of $227.87.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The insurance provider reported $6.13 earnings per share for the quarter, beating analysts' consensus estimates of $5.31 by $0.82. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.68%. The business had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.29 billion. During the same quarter in the previous year, the business posted $5.57 earnings per share. The company's revenue was up 9.7% on a year-over-year basis. On average, sell-side analysts forecast that Reinsurance Group of America will post 21.8 EPS for the current fiscal year.

Insider Transactions at Reinsurance Group of America

In related news, EVP William L. Hutton sold 1,209 shares of the business's 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 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 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.37% of the company's stock.

Institutional Investors Weigh In On Reinsurance Group of America

Large investors have recently added to or reduced their stakes in the company. Earnest Partners LLC grew its stake in shares of Reinsurance Group of America by 1.9% during the second 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. grew its stake in Reinsurance Group of America by 5.9% during the 2nd quarter. Sei Investments Co. now owns 825,719 shares of the insurance provider's stock valued at $169,497,000 after purchasing an additional 45,709 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in 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 valued at $112,668,000 after purchasing an additional 15,926 shares in the last quarter. Zurich Insurance Group Ltd FI raised its position 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 purchasing an additional 442,883 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Reinsurance Group of America by 43.8% during 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 last quarter. 95.11% of the stock is owned by institutional investors and hedge funds.

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.