Reinsurance Group of America (NYSE:RGA) Given New $250.00 Price Target at TD Cowen

Key Points

• TD Cowen raised its price target for Reinsurance Group of America from $235 to $250 while maintaining a “hold” rating, implying 6.62% downside from the stock’s $267.71 price at the time.
• Analyst sentiment remains broadly positive: RGA has a consensus “Buy” rating and an average target price of $270, with several firms assigning targets between $292 and $297.
• RGA reported quarterly EPS of $8.89, well above the $6.50 consensus estimate, while revenue rose 18.5% year over year to $6.64 billion. Institutional investors own approximately 95.11% of the company’s shares.

Reinsurance Group of America (NYSE:RGA - Get Free Report) had its price objective upped by investment analysts at TD Cowen from $235.00 to $250.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a "hold" rating on the insurance provider's stock. TD Cowen's price objective indicates a potential downside of 6.62% from the stock's current price.

Several other equities analysts also recently issued reports on RGA. Wells Fargo & Company upped their target price on Reinsurance Group of America from $291.00 to $292.00 and gave the company an "overweight" rating in a research report on Monday, October 12th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Reinsurance Group of America in a research report on Friday, August 7th. Morgan Stanley upgraded Reinsurance Group of America from an "equal weight" rating to an "overweight" rating and set a $295.00 price target on the stock in a research note on Monday, September 28th. JPMorgan Chase & Co. increased their price objective on Reinsurance Group of America from $293.00 to $297.00 and gave the company an "overweight" rating in a report on Thursday, October 15th. Finally, UBS Group upgraded Reinsurance Group of America from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $270.00.

Reinsurance Group of America Stock Performance

Shares of Reinsurance Group of America stock opened at $267.71 on Wednesday. The company has a 50 day moving average price of $250.25 and a 200 day moving average price of $228.91. The firm has a market capitalization of $17.48 billion, a P/E ratio of 11.79 and a beta of 0.45. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.41. Reinsurance Group of America has a 52 week low of $178.21 and a 52 week high of $270.32.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The insurance provider reported $8.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.50 by $2.39. The business had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.67 billion. Reinsurance Group of America had a net margin of 5.81% and a return on equity of 14.78%. Reinsurance Group of America's revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.72 EPS. Sell-side analysts expect that Reinsurance Group of America will post 29.75 EPS for the current year.

Insider Buying and Selling at Reinsurance Group of America

In other Reinsurance Group of America news, EVP Jonathan Porter sold 8,589 shares of Reinsurance Group of America stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $246.30, for a total transaction of $2,115,470.70. Following the completion of the transaction, the executive vice president owned 14,885 shares in the company, valued at approximately $3,666,175.50. This trade represents a 36.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.60% of the company's stock.

Institutional Trading of Reinsurance Group of America

Hedge funds have recently modified their holdings of the stock. SEB Asset Management AB purchased a new position in shares of Reinsurance Group of America in the 1st quarter valued at about $81,533,000. Bank of New York Mellon Corp acquired a new position in Reinsurance Group of America in the 2nd quarter worth about $82,836,000. Lazard Asset Management LLC raised its holdings in Reinsurance Group of America by 2,626.6% in the 1st quarter. Lazard Asset Management LLC now owns 195,794 shares of the insurance provider's stock worth $39,973,000 after purchasing an additional 188,613 shares during the period. Wedge Capital Management L L P NC boosted its position in Reinsurance Group of America by 965.2% during the second quarter. Wedge Capital Management L L P NC now owns 179,440 shares of the insurance provider's stock worth $38,158,000 after purchasing an additional 162,594 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in Reinsurance Group of America during the third quarter worth approximately $30,927,000. Hedge funds and other institutional investors own 95.11% of the company's stock.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated NYSE: RGA is a global provider of life and health reinsurance. The company works with insurance carriers to help them manage mortality, longevity, morbidity and other insurance risks, while supporting the development and distribution of life and health insurance products.

RGA's offerings include traditional life reinsurance, including term, whole life and universal life coverage, as well as health reinsurance and financial solutions. Its financial solutions business provides capital management, asset-intensive reinsurance, longevity and other risk-management arrangements designed to help insurers manage their balance sheets and meet changing customer and regulatory needs.

Founded in 1973 as part of General American Life Insurance Company, RGA became an independent public company in 1993.

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