JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Reinsurance Group of America (NYSE:RGA) Stock

Key Points

• JPMorgan Chase & Co. raised its price target on Reinsurance Group of America (NYSE:RGA) to $270 and maintained an overweight rating, implying roughly a 26.7% upside from the current share price.
• Analyst sentiment is broadly positive — six Buys, three Holds and one Sell — producing a consensus of Moderate Buy with an average target of $247.57.
• RGA reported a strong quarter (EPS $7.75 vs. $5.86 estimate; revenue $6.64B, up 26.6% YoY), trades around $213, and has a market cap of about $13.96B with a PE of 12.

Reinsurance Group of America (NYSE:RGA - Get Free Report) had its price objective upped by research analysts at JPMorgan Chase & Co. from $264.00 to $270.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the insurance provider's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 26.74% from the company's current price.

Several other research firms also recently issued reports on RGA. Wells Fargo & Company upped their price objective on shares of Reinsurance Group of America from $238.00 to $261.00 and gave the company an "overweight" rating in a research note on Wednesday, February 25th. Barclays upped their price objective on shares of Reinsurance Group of America from $245.00 to $256.00 and gave the company an "overweight" rating in a research note on Wednesday, April 8th. Piper Sandler restated an "overweight" rating and issued a $263.00 price objective on shares of Reinsurance Group of America in a research note on Friday, February 6th. TD Cowen restated a "hold" rating on shares of Reinsurance Group of America in a research note on Wednesday, January 28th. Finally, Wall Street Zen downgraded shares of Reinsurance Group of America from a "buy" rating to a "hold" rating in a research note on Saturday, April 11th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $247.57.

Reinsurance Group of America Stock Performance

NYSE RGA traded down $1.55 during trading hours on Thursday, hitting $213.04. The company had a trading volume of 435,435 shares, compared to its average volume of 376,607. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.14 and a current ratio of 0.14. Reinsurance Group of America has a 1-year low of $165.52 and a 1-year high of $229.21. The company has a market cap of $13.96 billion, a PE ratio of 12.00 and a beta of 0.50. The business has a 50 day moving average of $207.88 and a 200-day moving average of $201.99.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last released its quarterly earnings data on Thursday, February 5th. The insurance provider reported $7.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.86 by $1.89. Reinsurance Group of America had a net margin of 4.99% and a return on equity of 12.99%. The company had revenue of $6.64 billion during the quarter, compared to the consensus estimate of $6.25 billion. During the same quarter in the prior year, the firm posted $4.99 earnings per share. Reinsurance Group of America's revenue for the quarter was up 26.6% on a year-over-year basis. As a group, equities research analysts expect that Reinsurance Group of America will post 26.27 EPS for the current year.

Institutional Investors Weigh In On Reinsurance Group of America

Several hedge funds have recently made changes to their positions in the business. WCM Investment Management LLC boosted its stake in shares of Reinsurance Group of America by 3.6% during the third quarter. WCM Investment Management LLC now owns 2,734,458 shares of the insurance provider's stock worth $519,356,000 after buying an additional 94,479 shares during the period. American Century Companies Inc. raised its holdings in Reinsurance Group of America by 15.9% during the third quarter. American Century Companies Inc. now owns 2,369,057 shares of the insurance provider's stock worth $455,167,000 after purchasing an additional 324,239 shares in the last quarter. State Street Corp raised its holdings in Reinsurance Group of America by 2.8% during the third quarter. State Street Corp now owns 2,346,447 shares of the insurance provider's stock worth $450,823,000 after purchasing an additional 64,296 shares in the last quarter. AQR Capital Management LLC raised its holdings in Reinsurance Group of America by 148.4% during the fourth quarter. AQR Capital Management LLC now owns 1,652,102 shares of the insurance provider's stock worth $336,137,000 after purchasing an additional 987,014 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Reinsurance Group of America by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 1,341,364 shares of the insurance provider's stock worth $272,966,000 after purchasing an additional 12,682 shares in the last quarter. Institutional investors and hedge funds own 95.11% of the company's stock.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated NYSE: RGA is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company's offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA's product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.

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