Reinsurance Group of America (NYSE:RGA) Price Target Raised to $220.00

Reinsurance Group of America (NYSE:RGA - Get Free Report) had its price objective upped by analysts at Keefe, Bruyette & Woods from $200.00 to $220.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an "outperform" rating on the insurance provider's stock. Keefe, Bruyette & Woods' price target points to a potential upside of 15.81% from the company's previous close.

Several other equities research analysts have also recently issued reports on the stock. Royal Bank of Canada raised their price target on shares of Reinsurance Group of America from $170.00 to $185.00 and gave the stock an "outperform" rating in a research note on Monday, February 5th. Wells Fargo & Company boosted their target price on shares of Reinsurance Group of America from $186.00 to $193.00 and gave the company an "overweight" rating in a research note on Tuesday, February 6th. Piper Sandler boosted their target price on shares of Reinsurance Group of America from $195.00 to $220.00 and gave the company an "overweight" rating in a research note on Friday, April 5th. UBS Group boosted their target price on shares of Reinsurance Group of America from $191.00 to $198.00 and gave the company a "buy" rating in a research note on Monday, February 5th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Reinsurance Group of America from $170.00 to $189.00 and gave the company a "neutral" rating in a report on Tuesday, April 2nd. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Reinsurance Group of America presently has an average rating of "Moderate Buy" and a consensus price target of $187.75.

Reinsurance Group of America Stock Up 0.4 %

Shares of NYSE:RGA traded up $0.68 during trading on Wednesday, hitting $189.96. 419,269 shares of the company were exchanged, compared to its average volume of 345,108. The firm's 50 day moving average price is $180.29 and its 200-day moving average price is $165.98. Reinsurance Group of America has a 12-month low of $133.13 and a 12-month high of $196.25. The stock has a market capitalization of $12.49 billion, a P/E ratio of 14.14 and a beta of 0.89. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.17 and a quick ratio of 0.17.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced its quarterly earnings data on Friday, February 2nd. The insurance provider reported $4.73 EPS for the quarter, topping analysts' consensus estimates of $4.40 by $0.33. Reinsurance Group of America had a net margin of 4.86% and a return on equity of 16.20%. The company had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter in the prior year, the firm earned $2.99 EPS. Reinsurance Group of America's quarterly revenue was up 14.9% on a year-over-year basis. On average, research analysts predict that Reinsurance Group of America will post 19.38 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP William L. Hutton sold 1,588 shares of the firm's stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $171.83, for a total value of $272,866.04. Following the completion of the sale, the executive vice president now directly owns 13,625 shares in the company, valued at $2,341,183.75. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Todd C. Larson sold 2,966 shares of Reinsurance Group of America stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $182.88, for a total transaction of $542,422.08. Following the transaction, the chief financial officer now owns 49,549 shares in the company, valued at approximately $9,061,521.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William L. Hutton sold 1,588 shares of Reinsurance Group of America stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $171.83, for a total value of $272,866.04. Following the transaction, the executive vice president now owns 13,625 shares in the company, valued at approximately $2,341,183.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,462 shares of company stock worth $1,162,239. 1.55% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Reinsurance Group of America

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Wedmont Private Capital raised its position in Reinsurance Group of America by 8.1% in the 1st quarter. Wedmont Private Capital now owns 1,859 shares of the insurance provider's stock valued at $352,000 after buying an additional 140 shares during the last quarter. Alaska Permanent Fund Corp lifted its position in shares of Reinsurance Group of America by 14.7% during the 1st quarter. Alaska Permanent Fund Corp now owns 20,085 shares of the insurance provider's stock valued at $3,874,000 after acquiring an additional 2,581 shares during the period. Rise Advisors LLC acquired a new position in shares of Reinsurance Group of America during the 1st quarter worth $29,000. Mather Group LLC. acquired a new position in Reinsurance Group of America in the 1st quarter worth about $203,000. Finally, CWM LLC increased its holdings in Reinsurance Group of America by 15.7% in the 1st quarter. CWM LLC now owns 1,069 shares of the insurance provider's stock worth $206,000 after purchasing an additional 145 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 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.