Reinsurance Group of America (NYSE:RGA) Given New $293.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan raised RGA’s price target from $286 to $293 and maintained an “overweight” rating, implying 19.56% upside from the prior close.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $257.11; UBS, Wells Fargo, Barclays and others also recently raised their targets or ratings.
• RGA shares rose 1.2% to $245.06 after the company reported quarterly EPS of $8.89, well above the $6.50 consensus estimate, while revenue increased 18.5% year over year to $6.64 billion.

Reinsurance Group of America (NYSE:RGA - Get Free Report) had its target price increased by equities researchers at JPMorgan Chase & Co. from $286.00 to $293.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the insurance provider's stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 19.56% from the stock's previous close.

Other equities research analysts have also recently issued reports about the company. UBS Group upgraded Reinsurance Group of America from a "hold" rating to a "strong-buy" rating in a report on Friday, July 24th. Wells Fargo & Company upped their price objective on shares of Reinsurance Group of America from $261.00 to $269.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. Evercore reiterated an "outperform" rating and set a $267.00 target price on shares of Reinsurance Group of America in a report on Monday, May 18th. Barclays raised their target price on shares of Reinsurance Group of America from $278.00 to $290.00 and gave the company an "overweight" rating in a research report on Friday. Finally, TD Cowen boosted their price target on shares of Reinsurance Group of America from $212.00 to $235.00 and gave the company a "hold" rating in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $257.11.

Reinsurance Group of America Trading Up 1.2%

Shares of NYSE RGA traded up $2.96 during mid-day trading on Tuesday, reaching $245.06. The company had a trading volume of 34,788 shares, compared to its average volume of 372,319. The business's 50-day moving average is $223.26 and its 200-day moving average is $214.00. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.41. The stock has a market cap of $16.05 billion, a price-to-earnings ratio of 10.75 and a beta of 0.47. Reinsurance Group of America has a 52 week low of $178.21 and a 52 week high of $248.13.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last released 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 period in the previous year, the company earned $4.72 EPS. The firm's quarterly revenue was up 18.5% on a year-over-year basis. Equities analysts expect that Reinsurance Group of America will post 26.84 earnings per share for the current year.

Insider Buying and Selling at Reinsurance Group of America

In related news, EVP Ronald Herrmann sold 7,000 shares of the company's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $210.58, for a total transaction of $1,474,060.00. Following the transaction, the executive vice president directly owned 3,938 shares of the company's stock, valued at $829,264.04. This represents a 64.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP John W. Hayden sold 414 shares of the firm's stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total value of $88,989.30. Following the completion of the sale, the executive vice president directly owned 20,949 shares of the company's stock, valued at approximately $4,502,987.55. This represents a 1.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is currently owned by insiders.

Institutional Trading of Reinsurance Group of America

Institutional investors have recently bought and sold shares of the stock. WCM Investment Management LLC raised its holdings in shares of Reinsurance Group of America by 3.0% in the first quarter. WCM Investment Management LLC now owns 2,830,620 shares of the insurance provider's stock worth $566,803,000 after buying an additional 82,681 shares during the last quarter. State Street Corp increased its holdings in shares of Reinsurance Group of America by 2.8% in the third quarter. State Street Corp now owns 2,346,447 shares of the insurance provider's stock valued at $450,823,000 after purchasing an additional 64,296 shares during the period. AQR Capital Management LLC raised its stake in shares of Reinsurance Group of America by 148.4% in 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 during the last quarter. Geode Capital Management LLC raised its stake in shares of Reinsurance Group of America by 1.0% in 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 during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Reinsurance Group of America by 1.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,114,998 shares of the insurance provider's stock worth $227,624,000 after purchasing an additional 15,372 shares during the period. 95.11% of the stock is currently owned by institutional investors and hedge funds.

About Reinsurance Group of America

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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