Reinsurance Group of America (NYSE:RGA) Price Target Raised to $248.00

Reinsurance Group of America (NYSE:RGA - Get Free Report) had its price target increased by equities researchers at Wells Fargo & Company from $246.00 to $248.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the insurance provider's stock. Wells Fargo & Company's price objective would indicate a potential upside of 27.15% from the stock's current price.

A number of other analysts have also issued reports on the stock. Evercore ISI lowered their target price on shares of Reinsurance Group of America from $280.00 to $270.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. Keefe, Bruyette & Woods lowered their target price on Reinsurance Group of America from $275.00 to $250.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Royal Bank of Canada reiterated an "outperform" rating and set a $245.00 target price on shares of Reinsurance Group of America in a report on Monday, February 10th. Piper Sandler dropped their price objective on shares of Reinsurance Group of America from $252.00 to $242.00 and set an "overweight" rating on the stock in a research note on Monday, February 10th. Finally, Barclays decreased their price target on shares of Reinsurance Group of America from $255.00 to $252.00 and set an "overweight" rating for the company in a research report on Monday, January 6th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Reinsurance Group of America currently has a consensus rating of "Moderate Buy" and a consensus target price of $230.31.

Reinsurance Group of America Stock Down 0.6 %

NYSE:RGA opened at $195.04 on Tuesday. Reinsurance Group of America has a fifty-two week low of $159.25 and a fifty-two week high of $233.81. The firm has a 50-day simple moving average of $188.91 and a two-hundred day simple moving average of $207.27. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.17 and a current ratio of 0.15. The firm has a market cap of $12.89 billion, a P/E ratio of 18.02 and a beta of 0.57.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last released its earnings results on Thursday, May 1st. The insurance provider reported $5.66 earnings per share for the quarter, beating analysts' consensus estimates of $5.33 by $0.33. Reinsurance Group of America had a net margin of 3.24% and a return on equity of 14.55%. The company had revenue of $5.26 billion for the quarter, compared to analysts' expectations of $5.74 billion. During the same quarter in the previous year, the company earned $6.02 EPS. Reinsurance Group of America's revenue for the quarter was down 17.0% on a year-over-year basis. Analysts predict that Reinsurance Group of America will post 22.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Reinsurance Group of America

Institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. increased its stake in Reinsurance Group of America by 19.2% during the 4th quarter. Principal Financial Group Inc. now owns 182,069 shares of the insurance provider's stock valued at $38,895,000 after buying an additional 29,352 shares during the period. Martin Capital Partners LLC acquired a new position in shares of Reinsurance Group of America in the 4th quarter worth $1,788,000. Nordea Investment Management AB boosted its holdings in shares of Reinsurance Group of America by 4.8% in the fourth quarter. Nordea Investment Management AB now owns 89,837 shares of the insurance provider's stock worth $19,232,000 after buying an additional 4,119 shares during the period. Pacer Advisors Inc. boosted its stake in Reinsurance Group of America by 23.8% in the 4th quarter. Pacer Advisors Inc. now owns 14,402 shares of the insurance provider's stock worth $3,077,000 after purchasing an additional 2,768 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of Reinsurance Group of America by 7.9% in the third quarter. Franklin Resources Inc. now owns 77,516 shares of the insurance provider's stock valued at $16,862,000 after purchasing an additional 5,699 shares in the last quarter. 95.11% of the stock is owned by institutional investors.

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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