Reinsurance Group of America (NYSE:RGA) PT Raised to $217.00 at Morgan Stanley

Reinsurance Group of America (NYSE:RGA) had its price target hoisted by Morgan Stanley from $216.00 to $217.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the insurance provider’s stock. Morgan Stanley’s target price suggests a potential upside of 3.30% from the stock’s current price.

Other analysts have also issued research reports about the stock. Piper Sandler raised their price target on shares of Reinsurance Group of America from $228.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, June 28th. Wells Fargo & Company raised their price target on shares of Reinsurance Group of America from $210.00 to $227.00 and gave the company an “overweight” rating in a report on Friday, May 10th. Keefe, Bruyette & Woods raised their price target on shares of Reinsurance Group of America from $220.00 to $235.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. JPMorgan Chase & Co. raised their price target on shares of Reinsurance Group of America from $195.00 to $208.00 and gave the company a “neutral” rating in a report on Tuesday, July 2nd. Finally, Raymond James raised their price target 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. Two equities research 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $224.09.

Reinsurance Group of America Stock Performance

Shares of NYSE RGA traded up $2.73 during mid-day trading on Wednesday, hitting $210.07. The company had a trading volume of 148,071 shares, compared to its average volume of 349,191. The firm has a market cap of $13.82 billion, a P/E ratio of 16.35 and a beta of 0.92. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.19 and a quick ratio of 0.19. Reinsurance Group of America has a 12 month low of $135.07 and a 12 month high of $213.21. The business’s 50-day simple moving average is $205.80 and its 200-day simple moving average is $187.18.

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

Insider Transactions at Reinsurance Group of America

In other news, EVP John W. Hayden sold 1,767 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $206.85, for a total transaction of $365,503.95. Following the transaction, the executive vice president now directly owns 16,490 shares in the company, valued at approximately $3,410,956.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.37% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Lindbrook Capital LLC grew its stake in Reinsurance Group of America by 129.9% in the 4th quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock valued at $25,000 after buying an additional 87 shares during the last quarter. Pineridge Advisors LLC acquired a new position in Reinsurance Group of America in the 4th quarter valued at about $26,000. New Covenant Trust Company N.A. acquired a new position in Reinsurance Group of America in the 1st quarter valued at about $28,000. Rise Advisors LLC acquired a new position in Reinsurance Group of America in the 1st quarter valued at about $29,000. Finally, VisionPoint Advisory Group LLC grew its stake in Reinsurance Group of America by 116.3% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 212 shares of the insurance provider’s stock valued at $31,000 after buying an additional 114 shares during the last quarter. Institutional investors and hedge funds 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.