Royal Bank of Canada Issues Positive Forecast for Reinsurance Group of America (NYSE:RGA) Stock Price

Reinsurance Group of America (NYSE:RGA) had its price objective raised by analysts at Royal Bank of Canada from $235.00 to $245.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the insurance provider’s stock. Royal Bank of Canada’s price target indicates a potential upside of 14.95% from the company’s previous close.

A number of other research firms have also recently commented on RGA. Wells Fargo & Company lifted their target price on 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. TD Cowen started coverage on Reinsurance Group of America in a research note on Wednesday, October 9th. They set a “hold” rating and a $235.00 target price on the stock. Keefe, Bruyette & Woods raised Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, October 3rd. Raymond James lifted their price objective on 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. Finally, Citigroup lifted their price objective on Reinsurance Group of America from $194.00 to $252.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Reinsurance Group of America presently has an average rating of “Moderate Buy” and an average price target of $227.38.

Reinsurance Group of America Price Performance

Shares of RGA opened at $213.14 on Monday. Reinsurance Group of America has a 12-month low of $151.90 and a 12-month high of $227.87. The business’s fifty day moving average is $215.77 and its 200 day moving average is $209.82. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.45. The stock has a market cap of $14.04 billion, a P/E ratio of 19.57 and a beta of 0.92.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data 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 return on equity of 15.01% and a net margin of 3.32%. The business had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.29 billion. During the same period last year, the business earned $5.57 EPS. The business’s revenue was up 9.7% on a year-over-year basis. Sell-side analysts anticipate that Reinsurance Group of America will post 21.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP William L. Hutton sold 1,209 shares of Reinsurance Group of America stock in a transaction dated 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 $2,705,812.29. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.37% of the company’s stock.

Institutional Trading of Reinsurance Group of America

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Armstrong Advisory Group Inc. bought a new stake in Reinsurance Group of America in the 3rd quarter worth approximately $25,000. International Assets Investment Management LLC bought a new stake in Reinsurance Group of America in the 2nd quarter worth approximately $28,000. Family Firm Inc. bought a new stake in Reinsurance Group of America in the 2nd quarter worth approximately $29,000. New Covenant Trust Company N.A. bought a new stake in Reinsurance Group of America in the 1st quarter worth approximately $28,000. Finally, Wolff Wiese Magana LLC bought a new stake in Reinsurance Group of America in the 3rd quarter worth approximately $34,000. Institutional investors own 95.11% of the company’s stock.

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.