Reinsurance Group of America (NYSE:RGA - Get Free Report) had its target price increased by stock analysts at JPMorgan Chase & Co. from $237.00 to $264.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the insurance provider's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 34.61% from the stock's current price.
A number of other analysts have also recently weighed in on the company. Raymond James Financial reaffirmed a "market perform" rating on shares of Reinsurance Group of America in a research report on Friday, May 23rd. Evercore ISI lowered their price target on Reinsurance Group of America from $280.00 to $270.00 and set an "outperform" rating on the stock in a research note on Thursday, March 13th. Keefe, Bruyette & Woods boosted their price objective on Reinsurance Group of America from $250.00 to $255.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Wells Fargo & Company boosted their price objective on Reinsurance Group of America from $246.00 to $248.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Finally, Morgan Stanley set a $209.00 price target on Reinsurance Group of America and gave the company an "equal weight" rating in a research report on Monday, May 19th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $230.92.
Check Out Our Latest Analysis on Reinsurance Group of America
Reinsurance Group of America Trading Down 0.8%
Shares of NYSE:RGA traded down $1.62 during trading on Tuesday, reaching $196.12. 84,987 shares of the stock were exchanged, compared to its average volume of 411,580. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.16 and a current ratio of 0.16. Reinsurance Group of America has a 12-month low of $159.25 and a 12-month high of $233.81. The firm has a market cap of $12.96 billion, a price-to-earnings ratio of 16.54 and a beta of 0.62. The firm's 50-day moving average price is $200.18 and its 200 day moving average price is $201.36.
Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its earnings results on Thursday, May 1st. The insurance provider reported $5.66 earnings per share for the quarter, topping the consensus estimate of $5.33 by $0.33. The firm had revenue of $5.26 billion for the quarter, compared to analyst estimates of $5.74 billion. Reinsurance Group of America had a return on equity of 13.69% and a net margin of 3.77%. The firm's revenue for the quarter was down 17.0% on a year-over-year basis. During the same period last year, the company earned $6.02 earnings per share. On average, sell-side analysts anticipate that Reinsurance Group of America will post 22.9 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Reinsurance Group of America
A number of hedge funds have recently added to or reduced their stakes in RGA. Colonial Trust Co SC increased its stake in Reinsurance Group of America by 72.2% during the 4th quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider's stock valued at $29,000 after purchasing an additional 57 shares in the last quarter. Alpine Bank Wealth Management bought a new stake in shares of Reinsurance Group of America during the first quarter worth about $28,000. Golden State Wealth Management LLC increased its position in shares of Reinsurance Group of America by 164.3% during the first quarter. Golden State Wealth Management LLC now owns 148 shares of the insurance provider's stock worth $29,000 after acquiring an additional 92 shares in the last quarter. TCTC Holdings LLC increased its position in shares of Reinsurance Group of America by 107.2% during the first quarter. TCTC Holdings LLC now owns 172 shares of the insurance provider's stock worth $34,000 after acquiring an additional 89 shares in the last quarter. Finally, Cornerstone Planning Group LLC increased its position in shares of Reinsurance Group of America by 224.1% during the first quarter. Cornerstone Planning Group LLC now owns 175 shares of the insurance provider's stock worth $33,000 after acquiring an additional 121 shares in the last quarter. 95.11% of the stock is currently owned by institutional investors.
About Reinsurance Group of America
(
Get Free Report)
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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