Reinsurance Group of America (NYSE:RGA - Get Free Report) had its price objective increased by analysts at Barclays from $250.00 to $255.00 in a note issued to investors on Friday,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 10.53% from the company's previous close.
Several other brokerages have also recently issued reports on RGA. Morgan Stanley decreased their price target 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 report on Monday, August 19th. StockNews.com raised shares of Reinsurance Group of America from a "hold" rating to a "buy" rating in a research note on Thursday, October 17th. Wells Fargo & Company increased their target price on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the stock an "overweight" rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. increased their target price on shares of 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. Finally, Royal Bank of Canada increased their target price on shares of Reinsurance Group of America from $235.00 to $245.00 and gave the stock an "outperform" rating in a research note on Monday, November 4th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $227.77.
Check Out Our Latest Analysis on RGA
Reinsurance Group of America Price Performance
RGA stock traded up $1.53 during trading on Friday, reaching $230.70. 427,662 shares of the company were exchanged, compared to its average volume of 363,319. The company has a 50-day moving average of $219.09 and a two-hundred day moving average of $212.85. The company has a market capitalization of $15.19 billion, a price-to-earnings ratio of 21.19 and a beta of 0.92. Reinsurance Group of America has a twelve month low of $157.48 and a twelve month high of $233.14. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.17 and a quick ratio of 0.17.
Reinsurance Group of America (NYSE:RGA - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.31 by $0.82. The business had revenue of $5.65 billion during the quarter, compared to analysts' expectations of $5.29 billion. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%. The firm's quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the company earned $5.57 EPS. As a group, equities analysts predict that Reinsurance Group of America will post 21.93 earnings per share for the current fiscal year.
Insider Buying and Selling at Reinsurance Group of America
In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of Reinsurance Group of America stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $218.97, for a total transaction of $264,734.73. Following the completion of the sale, the executive vice president now directly owns 12,357 shares in the company, valued at $2,705,812.29. The trade was a 8.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.37% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the business. Armstrong Advisory Group Inc. purchased a new position in shares of Reinsurance Group of America during the third quarter worth approximately $25,000. New Covenant Trust Company N.A. purchased a new position in shares of Reinsurance Group of America in the first quarter worth $28,000. International Assets Investment Management LLC purchased a new position in shares of Reinsurance Group of America in the second quarter worth $28,000. Family Firm Inc. purchased a new position in shares of Reinsurance Group of America in the second quarter worth $29,000. Finally, LRI Investments LLC purchased a new position in shares of Reinsurance Group of America in the first quarter worth $33,000. 95.11% of the stock is owned by hedge funds and other institutional investors.
About Reinsurance Group of America
(
Get Free Report)
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.
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