Wall Street Zen Upgrades Reinsurance Group of America (NYSE:RGA) to "Buy"

Key Points

• Wall Street Zen upgraded Reinsurance Group of America from hold to buy, adding to a generally positive analyst tone on the stock.
• Recent analyst actions were mixed but supportive overall: JPMorgan lifted its price target to $270 with an overweight rating, and the stock now has a Moderate Buy consensus with an average target of $249.29.
• RGA’s latest quarterly results beat expectations, with EPS of $6.97 versus $6.03 expected and revenue of $6.49 billion, while revenue rose 23.5% year over year.

Reinsurance Group of America (NYSE:RGA - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.

A number of other equities analysts also recently issued reports on the company. Piper Sandler reiterated an "overweight" rating and set a $263.00 price target on shares of Reinsurance Group of America in a research note on Friday, February 6th. Morgan Stanley upped their target price on shares of Reinsurance Group of America from $208.00 to $223.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 3rd. JPMorgan Chase & Co. raised their price target on shares of Reinsurance Group of America from $264.00 to $270.00 and gave the company an "overweight" rating in a research report on Thursday. UBS Group increased their price objective on shares of Reinsurance Group of America from $216.00 to $220.00 and gave the company a "neutral" rating in a research note on Thursday, April 9th. Finally, Barclays boosted their target price on Reinsurance Group of America from $256.00 to $268.00 and gave the stock an "overweight" rating in a research note on Friday. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $249.29.

Reinsurance Group of America Stock Performance

RGA opened at $210.27 on Friday. Reinsurance Group of America has a 1-year low of $165.52 and a 1-year high of $229.21. The company has a market cap of $13.78 billion, a price-to-earnings ratio of 11.39 and a beta of 0.50. The company's fifty day moving average price is $207.78 and its two-hundred day moving average price is $202.17. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.42.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The insurance provider reported $6.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.03 by $0.94. The firm had revenue of $6.49 billion during the quarter, compared to analysts' expectations of $6.47 billion. Reinsurance Group of America had a net margin of 4.92% and a return on equity of 13.28%. The business's revenue was up 23.5% on a year-over-year basis. During the same period last year, the company earned $5.66 earnings per share. On average, analysts expect that Reinsurance Group of America will post 26.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Reinsurance Group of America

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RGA. WCM Investment Management LLC boosted its position in Reinsurance Group of America by 3.0% during the first quarter. WCM Investment Management LLC now owns 2,830,620 shares of the insurance provider's stock worth $566,803,000 after purchasing an additional 82,681 shares during the period. American Century Companies Inc. lifted its stake in shares of Reinsurance Group of America by 15.9% during the 3rd quarter. American Century Companies Inc. now owns 2,369,057 shares of the insurance provider's stock valued at $455,167,000 after buying an additional 324,239 shares in the last quarter. State Street Corp lifted its stake in shares of Reinsurance Group of America by 2.8% during the 3rd quarter. State Street Corp now owns 2,346,447 shares of the insurance provider's stock valued at $450,823,000 after buying an additional 64,296 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Reinsurance Group of America by 148.4% in the 4th quarter. AQR Capital Management LLC now owns 1,652,102 shares of the insurance provider's stock worth $336,137,000 after buying an additional 987,014 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Reinsurance Group of America by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 1,341,364 shares of the insurance provider's stock worth $272,966,000 after buying an additional 12,682 shares during the period. 95.11% of the stock is currently owned by institutional investors.

Reinsurance Group of America News Summary

Here are the key news stories impacting Reinsurance Group of America this week:

• Positive Sentiment: RGA delivered a Q1 earnings and revenue beat, driven by higher investment income, premium gains, and Financial Solutions growth, which is likely encouraging investors. RGA Q1 Earnings & Revenues Top Estimates on Higher Investment Income
• Positive Sentiment: JPMorgan raised its price target on RGA to $270 and kept an overweight rating, signaling confidence in further upside. Price target raised by JPMorgan Chase & Co.
• Positive Sentiment: RGA also announced a quarterly dividend of $0.93 per share, reinforcing its shareholder return profile.
• Neutral Sentiment: Several recap and comparison articles reiterated the same strong quarterly results, but did not add new material information for investors.

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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