Reinsurance Group of America (NYSE:RGA) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan raised Reinsurance Group of America’s price target to $297 from $293 and maintained an “overweight” rating, implying 12.78% upside from the prior close.
• Analyst sentiment is broadly positive: RGA has an average “Moderate Buy” rating and a consensus price target of $268.33, with recent upgrades from Morgan Stanley and UBS.
• RGA shares recently traded at $263.34, near their 52-week high of $265.25. The company’s latest quarterly earnings of $8.89 per share significantly exceeded the $6.50 consensus estimate, while revenue rose 18.5% year over year.

Reinsurance Group of America (NYSE:RGA - Get Free Report) had its price target raised by research analysts at JPMorgan Chase & Co. from $293.00 to $297.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an "overweight" rating on the insurance provider's stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 12.78% from the stock's previous close.

A number of other research analysts have also commented on the stock. Morgan Stanley upgraded shares of Reinsurance Group of America from an "equal weight" rating to an "overweight" rating and set a $295.00 price objective on the stock in a research note on Monday, September 28th. Wells Fargo & Company upped their price target on Reinsurance Group of America from $291.00 to $292.00 and gave the stock an "overweight" rating in a report on Monday. UBS Group upgraded shares of Reinsurance Group of America from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 24th. TD Cowen upped their price objective on Reinsurance Group of America from $212.00 to $235.00 and gave the company a "hold" rating in a research report on Wednesday, July 22nd. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Reinsurance Group of America in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Reinsurance Group of America currently has an average rating of "Moderate Buy" and an average target price of $268.33.

Reinsurance Group of America Price Performance

Shares of Reinsurance Group of America stock traded up $2.29 during trading hours on Thursday, reaching $263.34. The stock had a trading volume of 159,921 shares, compared to its average volume of 372,843. The firm has a market capitalization of $17.20 billion, a PE ratio of 11.55 and a beta of 0.45. The stock's 50 day moving average is $248.35 and its 200 day moving average is $227.09. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.41. Reinsurance Group of America has a twelve month low of $178.21 and a twelve month high of $265.25.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The insurance provider reported $8.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.50 by $2.39. Reinsurance Group of America had a net margin of 5.81% and a return on equity of 14.78%. The company had revenue of $6.64 billion during the quarter, compared to analysts' expectations of $6.67 billion. During the same quarter in the prior year, the company earned $4.72 EPS. Reinsurance Group of America's revenue was up 18.5% compared to the same quarter last year. Equities analysts expect that Reinsurance Group of America will post 29.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Jonathan Porter sold 8,589 shares of the firm's stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $246.30, for a total value of $2,115,470.70. Following the transaction, the executive vice president directly owned 14,885 shares in the company, valued at $3,666,175.50. This trade represents a 36.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.60% of the stock is owned by corporate insiders.

Institutional Trading of Reinsurance Group of America

Institutional investors have recently added to or reduced their stakes in the business. Tobam raised its stake in shares of Reinsurance Group of America by 244.7% in the 4th quarter. Tobam now owns 162 shares of the insurance provider's stock valued at $33,000 after purchasing an additional 115 shares in the last quarter. Whipplewood Advisors LLC increased its stake in Reinsurance Group of America by 4,400.0% during the first quarter. Whipplewood Advisors LLC now owns 225 shares of the insurance provider's stock valued at $46,000 after purchasing an additional 220 shares during the last quarter. Millstone Evans Group LLC raised its holdings in shares of Reinsurance Group of America by 77.0% during the first quarter. Millstone Evans Group LLC now owns 239 shares of the insurance provider's stock worth $49,000 after purchasing an additional 104 shares during the period. Wick Capital Partners LLC acquired a new stake in shares of Reinsurance Group of America during the fourth quarter worth $51,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Reinsurance Group of America in the 4th quarter worth about $53,000. 95.11% of the stock is owned by hedge funds and other institutional investors.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated NYSE: RGA is a global provider of life and health reinsurance. The company helps insurance organizations manage mortality, longevity, morbidity and other insurance risks by assuming portions of their business and providing capital, risk-management expertise and specialized underwriting support.

RGA offers traditional reinsurance and financial solutions for individual life insurance, group life and health coverage, retirement and annuity products, long-term care and disability insurance.

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