UBS Group Increases Reinsurance Group of America (NYSE:RGA) Price Target to $240.00

Reinsurance Group of America (NYSE:RGAGet Free Report) had its price objective upped by analysts at UBS Group from $223.00 to $240.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the insurance provider’s stock. UBS Group’s target price points to a potential upside of 14.58% from the stock’s previous close.

A number of other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Reinsurance Group of America from $189.00 to $195.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Keefe, Bruyette & Woods lifted their price objective on Reinsurance Group of America from $220.00 to $235.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th. Wells Fargo & Company upped their target price on shares of Reinsurance Group of America from $210.00 to $227.00 and gave the company an “overweight” rating in a report on Friday, May 10th. Morgan Stanley lifted their price target on shares of Reinsurance Group of America from $178.00 to $185.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Finally, Piper Sandler upped their price objective on shares of Reinsurance Group of America from $195.00 to $220.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $202.50.

Check Out Our Latest Research Report on Reinsurance Group of America

Reinsurance Group of America Stock Up 0.7 %

Shares of NYSE:RGA traded up $1.45 during trading on Thursday, hitting $209.46. 55,939 shares of the company were exchanged, compared to its average volume of 354,335. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.19 and a quick ratio of 0.19. The firm’s 50 day moving average price is $196.31 and its 200-day moving average price is $178.18. The stock has a market capitalization of $13.78 billion, a P/E ratio of 16.30 and a beta of 0.88. Reinsurance Group of America has a 12-month low of $135.07 and a 12-month high of $213.21.

Reinsurance Group of America (NYSE:RGAGet Free Report) last released its quarterly earnings data on Friday, May 3rd. The insurance provider reported $6.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.55 by $1.47. Reinsurance Group of America had a net margin of 4.16% and a return on equity of 15.94%. The company had revenue of $6.34 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter in the prior year, the firm posted $5.16 earnings per share. On average, research analysts predict that Reinsurance Group of America will post 20.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP William L. Hutton sold 1,908 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $181.84, for a total transaction of $346,950.72. Following the completion of the sale, the executive vice president now directly owns 13,363 shares in the company, valued at $2,429,927.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Todd C. Larson sold 2,966 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $182.88, for a total value of $542,422.08. Following the completion of the sale, the chief financial officer now directly owns 49,549 shares in the company, valued at approximately $9,061,521.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William L. Hutton sold 1,908 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $181.84, for a total transaction of $346,950.72. Following the sale, the executive vice president now directly owns 13,363 shares in the company, valued at $2,429,927.92. The disclosure for this sale can be found here. Insiders have sold 6,641 shares of company stock valued at $1,254,877 in the last quarter. Company insiders own 1.37% of the company’s stock.

Institutional Investors Weigh In On Reinsurance Group of America

Several institutional investors and hedge funds have recently bought and sold shares of RGA. Cetera Advisors LLC grew its holdings in shares of Reinsurance Group of America by 85.2% during the first quarter. Cetera Advisors LLC now owns 4,147 shares of the insurance provider’s stock valued at $800,000 after purchasing an additional 1,908 shares during the last quarter. Cetera Investment Advisers grew its stake in Reinsurance Group of America by 123.2% during the 1st quarter. Cetera Investment Advisers now owns 16,091 shares of the insurance provider’s stock worth $3,103,000 after buying an additional 8,881 shares during the last quarter. Atria Investments Inc acquired a new stake in Reinsurance Group of America in the first quarter worth $2,660,000. LRI Investments LLC bought a new stake in Reinsurance Group of America in the first quarter valued at $33,000. Finally, New Covenant Trust Company N.A. bought a new stake in Reinsurance Group of America in the first quarter valued at $28,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

Reinsurance Group of America Company Profile

(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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