Reinsurance Group of America (NYSE:RGA) Given "Overweight" Rating at Barclays

Key Points

• Reinsurance Group of America has been rated "overweight" by Barclays with a price target of $246.00, indicating a potential upside of 24.06% from its previous close.
• Several other analysts have weighed in, with JPMorgan raising their target from $237.00 to $264.00, while Wells Fargo lowered theirs from $249.00 to $241.00, maintaining an "overweight" rating.
• The company's recent quarterly earnings missed estimates, reporting $4.72 earnings per share compared to the consensus of $5.58, but its revenue increased by 14.8% year-over-year.

Reinsurance Group of America (NYSE:RGA - Get Free Report)'s stock had its "overweight" rating restated by research analysts at Barclays in a research report issued on Wednesday,Benzinga reports. They currently have a $246.00 price objective on the insurance provider's stock. Barclays's price objective suggests a potential upside of 24.06% from the company's previous close.

Several other research analysts have also recently weighed in on RGA. JPMorgan Chase & Co. increased their price target on shares of Reinsurance Group of America from $237.00 to $264.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Reinsurance Group of America in a report on Saturday, September 27th. Piper Sandler reaffirmed an "overweight" rating on shares of Reinsurance Group of America in a report on Tuesday. Wells Fargo & Company lowered their target price on shares of Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Finally, Morgan Stanley lowered their target price on shares of Reinsurance Group of America from $210.00 to $195.00 and set an "equal weight" rating on the stock in a report on Monday, August 18th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $240.90.

Reinsurance Group of America Stock Performance

NYSE:RGA traded up $0.71 during mid-day trading on Wednesday, hitting $198.30. The stock had a trading volume of 31,225 shares, compared to its average volume of 456,748. Reinsurance Group of America has a twelve month low of $159.25 and a twelve month high of $233.81. The stock has a market cap of $13.11 billion, a price-to-earnings ratio of 17.25 and a beta of 0.60. The company's 50 day simple moving average is $190.26 and its 200 day simple moving average is $193.41. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.16 and a current ratio of 0.16.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The insurance provider reported $4.72 earnings per share for the quarter, missing the consensus estimate of $5.58 by ($0.86). The company had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.70 billion. Reinsurance Group of America had a net margin of 3.54% and a return on equity of 12.56%. The firm's revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company earned $5.48 earnings per share. On average, equities research analysts forecast that Reinsurance Group of America will post 22.9 earnings per share for the current year.

Institutional Trading of Reinsurance Group of America

A number of hedge funds have recently added to or reduced their stakes in RGA. Norges Bank acquired a new stake in Reinsurance Group of America in the second quarter valued at approximately $167,955,000. American Century Companies Inc. boosted its position in Reinsurance Group of America by 67.9% in the first quarter. American Century Companies Inc. now owns 1,511,927 shares of the insurance provider's stock valued at $297,699,000 after buying an additional 611,226 shares in the last quarter. Orion Porfolio Solutions LLC boosted its position in Reinsurance Group of America by 6,076.4% in the second quarter. Orion Porfolio Solutions LLC now owns 602,503 shares of the insurance provider's stock valued at $119,512,000 after buying an additional 592,748 shares in the last quarter. Laurel Wealth Advisors LLC lifted its holdings in shares of Reinsurance Group of America by 19,387.3% during the second quarter. Laurel Wealth Advisors LLC now owns 561,818 shares of the insurance provider's stock worth $111,442,000 after purchasing an additional 558,935 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in shares of Reinsurance Group of America by 534.1% during the second quarter. Nordea Investment Management AB now owns 570,386 shares of the insurance provider's stock worth $112,828,000 after purchasing an additional 480,435 shares during the period. 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.

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