Morgan Stanley Increases Reinsurance Group of America (NYSE:RGA) Price Target to $210.00

Reinsurance Group of America (NYSE:RGA) had its price target lifted by analysts at Morgan Stanley from $209.00 to $210.00 in a report released on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the insurance provider’s stock. Morgan Stanley’s price target would suggest a potential upside of 6.66% from the company’s previous close.

RGA has been the topic of a number of other research reports. Raymond James Financial restated a “market perform” rating on shares of Reinsurance Group of America in a research report on Friday, May 23rd. 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 report on Wednesday, May 7th. JPMorgan Chase & Co. boosted their price objective on Reinsurance Group of America from $237.00 to $264.00 and gave the company an “overweight” rating in a report on Tuesday, July 8th. Wells Fargo & Company reiterated an “overweight” rating and issued a $249.00 price objective (up previously from $248.00) on shares of Reinsurance Group of America in a report on Thursday. Finally, UBS Group reiterated a “neutral” rating and issued a $216.00 price objective (down previously from $250.00) on shares of Reinsurance Group of America in a report on Wednesday, April 2nd. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $245.00.

Reinsurance Group of America Trading Up 1.2%

Reinsurance Group of America stock traded up $2.39 during trading on Monday, reaching $196.88. 20,015 shares of the company were exchanged, compared to its average volume of 412,397. Reinsurance Group of America has a 52-week low of $159.25 and a 52-week high of $233.81. The company has a market capitalization of $13.01 billion, a P/E ratio of 16.58 and a beta of 0.62. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.16 and a quick ratio of 0.16. The stock’s 50 day simple moving average is $200.46 and its two-hundred day simple moving average is $200.96.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, May 1st. The insurance provider reported $5.66 EPS for the quarter, beating analysts’ consensus estimates of $5.33 by $0.33. Reinsurance Group of America had a return on equity of 13.69% and a net margin of 3.77%. The company had revenue of $5.26 billion for the quarter, compared to the consensus estimate of $5.74 billion. During the same quarter in the previous year, the business earned $6.02 earnings per share. The company’s revenue for the quarter was down 17.0% on a year-over-year basis. On average, equities research analysts expect 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

Several hedge funds have recently bought and sold shares of the company. Alpine Bank Wealth Management purchased a new position in Reinsurance Group of America during the first quarter worth $28,000. Colonial Trust Co SC increased its position in Reinsurance Group of America by 72.2% during the fourth quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider’s stock worth $29,000 after buying an additional 57 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings 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 purchasing an additional 92 shares during the last quarter. Cornerstone Planning Group LLC boosted its holdings 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 purchasing an additional 121 shares during the last quarter. Finally, TCTC Holdings LLC boosted its holdings 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 purchasing an additional 89 shares during the last quarter. 95.11% of the stock is owned by hedge funds and other institutional investors.

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.