Barclays Lowers Reinsurance Group of America (NYSE:RGA) Price Target to $252.00

Reinsurance Group of America (NYSE:RGA) had its price objective decreased by equities research analysts at Barclays from $255.00 to $252.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the insurance provider’s stock. Barclays‘s price objective suggests a potential upside of 13.56% from the stock’s previous close.

A number of other brokerages have also weighed in on RGA. Piper Sandler lifted their target price on Reinsurance Group of America from $237.00 to $242.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods raised shares of Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, October 3rd. 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 report on Thursday, October 3rd. Wells Fargo & Company boosted their price target on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Raymond James increased their price objective 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. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Reinsurance Group of America has an average rating of “Moderate Buy” and an average target price of $228.31.

Reinsurance Group of America Trading Up 1.5 %

RGA stock opened at $221.91 on Monday. Reinsurance Group of America has a 12 month low of $163.81 and a 12 month high of $233.81. The firm’s 50-day moving average is $219.30 and its 200 day moving average is $215.11. The company has a market capitalization of $14.62 billion, a PE ratio of 20.38 and a beta of 0.94. 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) last issued its earnings results on Thursday, October 31st. The insurance provider reported $6.13 EPS for the quarter, topping analysts’ consensus estimates of $5.31 by $0.82. The business had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.29 billion. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company posted $5.57 earnings per share. On average, research analysts anticipate that Reinsurance Group of America will post 21.67 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Insight Wealth Strategies LLC grew its stake in shares of Reinsurance Group of America by 23.8% during the fourth quarter. Insight Wealth Strategies LLC now owns 20,158 shares of the insurance provider’s stock worth $4,306,000 after acquiring an additional 3,873 shares during the last quarter. Nordea Investment Management AB boosted its stake in Reinsurance Group of America by 4.8% in the 4th quarter. Nordea Investment Management AB now owns 89,837 shares of the insurance provider’s stock worth $19,232,000 after purchasing an additional 4,119 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in Reinsurance Group of America during the 4th quarter worth approximately $391,000. GAMMA Investing LLC increased its stake in Reinsurance Group of America by 41.7% during the 4th quarter. GAMMA Investing LLC now owns 863 shares of the insurance provider’s stock valued at $184,000 after purchasing an additional 254 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of Reinsurance Group of America by 38.1% in the fourth quarter. Versant Capital Management Inc now owns 290 shares of the insurance provider’s stock worth $62,000 after buying an additional 80 shares during the last quarter. 95.11% of the stock is owned by institutional investors and hedge funds.

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.