JPMorgan Chase & Co. Increases Reinsurance Group of America (NYSE:RGA) Price Target to $208.00

Reinsurance Group of America (NYSE:RGA) had its price objective boosted by equities research analysts at JPMorgan Chase & Co. from $195.00 to $208.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 1.39% from the company’s previous close.

Several other brokerages also recently weighed in on RGA. Raymond James lifted their target price on shares of 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. Keefe, Bruyette & Woods lifted their price objective on Reinsurance Group of America from $220.00 to $235.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. Piper Sandler boosted their target price on Reinsurance Group of America from $228.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday. UBS Group raised their price target on Reinsurance Group of America from $223.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Finally, Jefferies Financial Group upped their price objective on Reinsurance Group of America from $240.00 to $247.00 and gave the stock a “buy” rating in a report on Friday. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Reinsurance Group of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.18.

Reinsurance Group of America Stock Performance

RGA traded up $0.11 on Tuesday, hitting $205.15. 67,399 shares of the company traded hands, compared to its average volume of 349,388. The company has a 50 day moving average of $203.58 and a 200-day moving average of $185.03. Reinsurance Group of America has a 12-month low of $135.07 and a 12-month high of $213.21. The stock has a market capitalization of $13.50 billion, a PE ratio of 15.94 and a beta of 0.92. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.46.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results on Friday, May 3rd. The insurance provider reported $6.02 EPS for the quarter, topping the consensus estimate 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 business had revenue of $6.34 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter in the prior year, the business earned $5.16 earnings per share. Sell-side analysts anticipate that Reinsurance Group of America will post 20.94 earnings per share for the current year.

Insider Buying and Selling at Reinsurance Group of America

In other news, EVP John W. Hayden sold 1,767 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $206.85, for a total transaction of $365,503.95. Following the completion of the transaction, 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 filing with the SEC, which is available at the SEC website. Insiders own 1.37% of the company’s stock.

Institutional Trading of Reinsurance Group of America

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Reinsurance Group of America during the 4th quarter worth about $122,301,000. Junto Capital Management LP purchased a new position in shares of Reinsurance Group of America during the fourth quarter valued at approximately $92,083,000. Balyasny Asset Management L.P. acquired a new stake in Reinsurance Group of America during the fourth quarter worth approximately $67,177,000. Adage Capital Partners GP L.L.C. grew its stake in Reinsurance Group of America by 966.7% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 320,000 shares of the insurance provider’s stock worth $46,461,000 after acquiring an additional 290,000 shares during the period. Finally, Corient Private Wealth LLC raised its holdings in Reinsurance Group of America by 1,965.4% in 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. Hedge funds and other 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.