Reinsurance Group of America (NYSE:RGA) Price Target Raised to $220.00 at JPMorgan Chase & Co.

Reinsurance Group of America (NYSE:RGA) had its price target increased by equities research analysts at JPMorgan Chase & Co. from $208.00 to $220.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 6.64% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Citigroup lifted their price target on shares of Reinsurance Group of America from $194.00 to $252.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Morgan Stanley raised their price objective on shares of Reinsurance Group of America from $216.00 to $217.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 10th. Keefe, Bruyette & Woods raised their price objective on shares of Reinsurance Group of America from $220.00 to $235.00 and gave the stock an “outperform” rating in a report on Tuesday, May 7th. Raymond James raised their price objective on shares of Reinsurance Group of America from $212.00 to $228.00 and gave the stock a “strong-buy” rating in a report on Friday, June 14th. Finally, Wells Fargo & Company raised their price objective on shares of Reinsurance Group of America from $210.00 to $227.00 and gave the stock an “overweight” rating in a report on Friday, May 10th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $216.73.

Reinsurance Group of America Trading Down 7.5 %

NYSE RGA traded down $16.69 during mid-day trading on Friday, reaching $206.31. 1,227,157 shares of the stock were exchanged, compared to its average volume of 371,740. Reinsurance Group of America has a 1-year low of $135.07 and a 1-year high of $227.87. The business’s fifty day simple moving average is $209.84 and its 200 day simple moving average is $193.16. The stock has a market capitalization of $13.57 billion, a PE 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.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.94 by $0.54. Reinsurance Group of America had a net margin of 4.16% and a return on equity of 15.94%. The firm had revenue of $4.88 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same quarter last year, the business earned $4.40 earnings per share. Reinsurance Group of America’s revenue was up 17.4% compared to the same quarter last year. On average, research analysts anticipate that Reinsurance Group of America will post 21.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Reinsurance Group of America

In other news, EVP John W. Hayden sold 1,767 shares of the business’s stock in a transaction 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 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 filing with the SEC, which is available at this hyperlink. Company insiders own 1.37% of the company’s stock.

Institutional Investors Weigh In On Reinsurance Group of America

A number of large investors have recently bought and sold shares of the business. Earnest Partners LLC boosted its holdings in Reinsurance Group of America by 4.2% in the first quarter. Earnest Partners LLC now owns 2,577,901 shares of the insurance provider’s stock worth $497,226,000 after purchasing an additional 104,256 shares in the last quarter. Nuance Investments LLC boosted its holdings in Reinsurance Group of America by 14.7% during the fourth quarter. Nuance Investments LLC now owns 1,114,060 shares of the insurance provider’s stock valued at $180,233,000 after acquiring an additional 142,627 shares during the period. Sei Investments Co. boosted its holdings in Reinsurance Group of America by 5.7% during the first quarter. Sei Investments Co. now owns 780,010 shares of the insurance provider’s stock valued at $150,448,000 after acquiring an additional 42,135 shares during the period. Norges Bank bought a new stake in Reinsurance Group of America during the fourth quarter valued at about $122,301,000. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Reinsurance Group of America by 2.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 584,137 shares of the insurance provider’s stock valued at $112,668,000 after acquiring an additional 15,926 shares during the period. 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.