Reinsurance Group of America (NYSE:RGA) Price Target Cut to $241.00 by Analysts at Wells Fargo & Company

Key Points

• Wells Fargo & Company has reduced its price target for Reinsurance Group of America (RGA) from $249.00 to $241.00, still maintaining an "overweight" rating on the stock.
• The consensus among analysts shows an average price target of $243.64 for RGA, with four ratings as "hold" and eight as "buy."
• In the latest earnings report, RGA reported $4.72 earnings per share, missing estimates, but still showing a 14.8% year-over-year revenue increase.

Reinsurance Group of America (NYSE:RGA - Get Free Report) had its price objective decreased by equities research analysts at Wells Fargo & Company from $249.00 to $241.00 in a research report issued on Monday,Benzinga reports. The firm presently has an "overweight" rating on the insurance provider's stock. Wells Fargo & Company's target price would suggest a potential upside of 34.10% from the company's previous close.

A number of other equities analysts have also weighed in on RGA. Raymond James Financial reiterated a "market perform" rating on shares of Reinsurance Group of America in a report on Friday, May 23rd. Keefe, Bruyette & Woods increased their target price on Reinsurance Group of America from $250.00 to $255.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Morgan Stanley boosted their price target on Reinsurance Group of America from $209.00 to $210.00 and gave the company an "equal weight" rating in a research report on Monday, July 14th. Finally, JPMorgan Chase & Co. upped their price target on Reinsurance Group of America from $237.00 to $264.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $243.64.

Reinsurance Group of America Trading Up 1.3%

RGA traded up $2.39 during midday trading on Monday, hitting $179.72. The company's stock had a trading volume of 117,300 shares, compared to its average volume of 449,457. Reinsurance Group of America has a 52-week low of $159.25 and a 52-week high of $233.81. The firm has a 50-day moving average price of $197.24 and a two-hundred day moving average price of $198.39. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.47. The firm has a market cap of $11.88 billion, a P/E ratio of 15.58 and a beta of 0.61.

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

Institutional Investors Weigh In On Reinsurance Group of America

Institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC raised its holdings in shares of Reinsurance Group of America by 11.1% during the 4th quarter. FMR LLC now owns 5,640,788 shares of the insurance provider's stock valued at $1,205,042,000 after buying an additional 564,693 shares during the period. WCM Investment Management LLC grew its position in Reinsurance Group of America by 5.0% in the second quarter. WCM Investment Management LLC now owns 2,639,979 shares of the insurance provider's stock valued at $521,343,000 after acquiring an additional 125,937 shares in the last quarter. American Century Companies Inc. grew 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 acquiring an additional 611,226 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Reinsurance Group of America by 3.2% during the first quarter. Alliancebernstein L.P. now owns 1,158,803 shares of the insurance provider's stock valued at $228,168,000 after purchasing an additional 35,781 shares during the period. Finally, Invesco Ltd. lifted its position in shares of Reinsurance Group of America by 34.4% during the fourth quarter. Invesco Ltd. now owns 944,635 shares of the insurance provider's stock worth $201,802,000 after purchasing an additional 241,669 shares in the last quarter. Hedge funds and other institutional investors own 95.11% of the company's stock.

About Reinsurance Group of America

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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