Reinsurance Group of America (NYSE:RGA) Price Target Raised to $255.00 at Barclays

Reinsurance Group of America (NYSE:RGA) had its price objective upped by research analysts at Barclays from $250.00 to $255.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the insurance provider’s stock. Barclays‘s price target would indicate a potential upside of 10.53% from the stock’s current price.

A number of other brokerages have also recently issued reports on RGA. JPMorgan Chase & Co. lifted their price objective on shares of Reinsurance Group of America from $220.00 to $222.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Keefe, Bruyette & Woods upgraded Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, October 3rd. Royal Bank of Canada increased their price objective on 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. 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. Finally, Wells Fargo & Company increased their price target on Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $227.77.

Reinsurance Group of America Stock Up 0.7 %

RGA stock opened at $230.70 on Friday. The stock’s 50 day simple moving average is $219.09 and its 200 day simple moving average is $212.92. The company has a market cap of $15.19 billion, a P/E ratio of 21.18 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.17 and a current ratio of 0.17. Reinsurance Group of America has a fifty-two week low of $157.48 and a fifty-two week high of $233.14.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same period in the prior year, the firm earned $5.57 earnings per share. Reinsurance Group of America’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, research analysts expect that Reinsurance Group of America will post 21.93 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP William L. Hutton sold 1,209 shares of the company’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 value of $264,734.73. Following the transaction, the executive vice president now owns 12,357 shares in the company, valued at approximately $2,705,812.29. This represents a 8.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.37% of the company’s stock.

Institutional Trading of Reinsurance Group of America

Several hedge funds have recently made changes to their positions in the company. Armstrong Advisory Group Inc. purchased a new stake in Reinsurance Group of America in the 3rd quarter worth about $25,000. New Covenant Trust Company N.A. bought a new position in Reinsurance Group of America during the first quarter worth about $28,000. International Assets Investment Management LLC purchased a new position in shares of Reinsurance Group of America in the second quarter worth about $28,000. Family Firm Inc. bought a new stake in shares of Reinsurance Group of America in the second quarter valued at approximately $29,000. Finally, LRI Investments LLC purchased a new stake in shares of Reinsurance Group of America during the 1st quarter valued at approximately $33,000. 95.11% of the stock is currently owned by institutional investors.

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.