Reinsurance Group of America (NYSE:RGA) PT Raised to $239.00 at Wells Fargo & Company

Reinsurance Group of America (NYSE:RGA) had its price objective hoisted by equities research analysts at Wells Fargo & Company from $236.00 to $239.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 17.55% from the company’s current price.

RGA has been the topic of several other reports. Morgan Stanley lifted their target price on 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. UBS Group lifted their target price on Reinsurance Group of America from $223.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. lifted their target price on Reinsurance Group of America from $208.00 to $220.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Citigroup lifted their target price 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. Finally, Jefferies Financial Group lifted their target price on Reinsurance Group of America from $63.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $218.73.

Reinsurance Group of America Price Performance

RGA stock traded up $2.10 during midday trading on Friday, reaching $203.31. 456,519 shares of the stock were exchanged, compared to its average volume of 559,928. The stock has a market capitalization of $13.38 billion, a PE ratio of 15.80 and a beta of 0.92. Reinsurance Group of America has a 52 week low of $135.07 and a 52 week high of $227.87. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.17 and a quick ratio of 0.19. The company has a fifty day moving average price of $208.73 and a 200 day moving average price of $194.65.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 earnings per share for the quarter, topping analysts’ consensus estimates of $4.94 by $0.54. The business had revenue of $4.88 billion for the quarter, compared to analyst estimates of $5.07 billion. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. Reinsurance Group of America’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.40 EPS. As a group, analysts expect that Reinsurance Group of America will post 21.24 EPS for the current fiscal year.

Insider Activity

In other news, EVP John W. Hayden sold 1,767 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $206.85, for a total value 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 $3,410,956.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.37% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Reinsurance Group of America

Large investors have recently made changes to their positions in the stock. Lindbrook Capital LLC increased its holdings in shares of Reinsurance Group of America by 129.9% in the fourth quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock worth $25,000 after buying an additional 87 shares during the period. Pineridge Advisors LLC bought a new position in Reinsurance Group of America in the 4th quarter valued at approximately $26,000. New Covenant Trust Company N.A. bought a new position in Reinsurance Group of America in the 1st quarter valued at approximately $28,000. International Assets Investment Management LLC bought a new position in Reinsurance Group of America in the 2nd quarter valued at approximately $28,000. Finally, Rise Advisors LLC purchased a new stake in Reinsurance Group of America during the 1st quarter valued at $29,000. 95.11% of the stock is owned by institutional investors.

Reinsurance Group of America Company Profile

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.