Evercore ISI Boosts Reinsurance Group of America (NYSE:RGA) Price Target to $241.00

Reinsurance Group of America (NYSE:RGA) had its target price upped by stock analysts at Evercore ISI from $225.00 to $241.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the insurance provider’s stock. Evercore ISI’s target price would indicate a potential upside of 16.84% from the stock’s current price.

RGA has been the topic of a number of other research reports. JPMorgan Chase & Co. lifted their target price on Reinsurance Group of America from $189.00 to $195.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Keefe, Bruyette & Woods lifted their target price on Reinsurance Group of America from $220.00 to $235.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. UBS Group lifted their target price on Reinsurance Group of America from $223.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Raymond James boosted their price objective on Reinsurance Group of America from $212.00 to $228.00 and gave the company a “strong-buy” rating in a report on Friday, June 14th. Finally, Piper Sandler boosted their price objective on Reinsurance Group of America from $195.00 to $220.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $213.36.

Reinsurance Group of America Stock Performance

Shares of Reinsurance Group of America stock opened at $206.26 on Wednesday. Reinsurance Group of America has a one year low of $135.07 and a one year high of $213.21. The company has a market cap of $13.57 billion, a price-to-earnings ratio of 16.03 and a beta of 0.92. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.19 and a current ratio of 0.19. The business’s 50 day moving average price is $203.21 and its 200 day moving average price is $184.52.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Friday, May 3rd. The insurance provider reported $6.02 EPS for the quarter, beating analysts’ consensus estimates of $4.55 by $1.47. Reinsurance Group of America had a return on equity of 15.94% and a net margin of 4.16%. The company had revenue of $6.34 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter in the previous year, the business earned $5.16 earnings per share. On average, research analysts predict that Reinsurance Group of America will post 20.94 EPS for the current year.

Insider Activity at Reinsurance Group of America

In related news, EVP John W. Hayden sold 1,767 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $206.85, for a total value of $365,503.95. Following the completion of the sale, the executive vice president now directly owns 16,490 shares of the company’s stock, valued at approximately $3,410,956.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.37% of the company’s stock.

Institutional Trading of Reinsurance Group of America

A number of large investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in Reinsurance Group of America during the 4th quarter valued at approximately $122,301,000. Junto Capital Management LP purchased a new stake in Reinsurance Group of America during the 4th quarter valued at approximately $92,083,000. Balyasny Asset Management L.P. purchased a new stake in Reinsurance Group of America during the 4th quarter valued at approximately $67,177,000. Adage Capital Partners GP L.L.C. raised its stake in Reinsurance Group of America by 966.7% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 320,000 shares of the insurance provider’s stock valued at $46,461,000 after acquiring an additional 290,000 shares during the last quarter. Finally, Corient Private Wealth LLC raised its stake in Reinsurance Group of America by 1,965.4% during the 4th quarter. Corient Private Wealth LLC now owns 298,352 shares of the insurance provider’s stock valued at $48,267,000 after acquiring an additional 283,907 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.