Reinsurance Group of America (NYSE:RGA) Stock Gets Price Target Increase from Wells Fargo & Company

Reinsurance Group of America (NYSE:RGA) had its price objective increased by analysts at Wells Fargo & Company from $292.00 to $312.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 14.32% from the company’s previous close.

Several other analysts have also issued reports on RGA. Barclays set a $292.00 price objective on Reinsurance Group of America in a report on Thursday, October 8th. Morgan Stanley raised Reinsurance Group of America from an “equal weight” rating to an “overweight” rating and set a $295.00 price objective for the company in a research report on Monday, September 28th. Weiss Ratings restated a “buy (b)” rating on shares of Reinsurance Group of America in a research note on Wednesday, November 4th. JPMorgan Chase & Co. lifted their target price on shares of Reinsurance Group of America from $293.00 to $297.00 and gave the company an “overweight” rating in a research note on Thursday, October 15th. Finally, UBS Group raised shares of Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $281.12.

Reinsurance Group of America Stock Down 0.4%

Reinsurance Group of America stock opened at $272.93 on Thursday. The firm has a market cap of $17.75 billion, a PE ratio of 10.55 and a beta of 0.43. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.14 and a current ratio of 0.16. The firm’s 50 day moving average price is $256.65 and its two-hundred day moving average price is $227.47. Reinsurance Group of America has a twelve month low of $182.73 and a twelve month high of $275.70.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Thursday, November 5th. The insurance provider reported $8.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.97 by $1.52. Reinsurance Group of America had a net margin of 6.26% and a return on equity of 16.18%. The company had revenue of $7.55 billion during the quarter, compared to analyst estimates of $6.69 billion. During the same quarter last year, the business posted $6.37 EPS. On average, research analysts predict that Reinsurance Group of America will post 30.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Reinsurance Group of America

Institutional investors and hedge funds have recently bought and sold shares of the stock. Engineers Gate Manager LP increased its holdings in shares of Reinsurance Group of America by 26.8% during the 2nd quarter. Engineers Gate Manager LP now owns 25,218 shares of the insurance provider’s stock worth $5,363,000 after purchasing an additional 5,331 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Reinsurance Group of America in the 2nd quarter worth approximately $1,489,000. Assenagon Asset Management S.A. bought a new stake in shares of Reinsurance Group of America in the 3rd quarter worth approximately $30,927,000. Sequoia Financial Advisors LLC grew its holdings in shares of Reinsurance Group of America by 77.6% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 11,716 shares of the insurance provider’s stock worth $2,491,000 after purchasing an additional 5,118 shares in the last quarter. Finally, WCM Investment Management LLC grew its holdings in shares of Reinsurance Group of America by 3.0% during the 1st 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 in the last quarter. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated (RGA) is a global life and health reinsurer. It works with insurance companies to help them manage risks and support the development and distribution of insurance products. Its services include life and health reinsurance, as well as solutions involving longevity risk and asset-intensive reinsurance. RGA also provides underwriting expertise, data and analytics, and product and risk-management support to its clients. Founded in 1973, RGA serves clients across North America, Latin America, Europe, the Middle East and Africa, and Asia Pacific.