Reinsurance Group of America (NYSE:RGA) Stock Gets Price Target Increase from Piper Sandler

Reinsurance Group of America (NYSE:RGA) had its price target boosted by stock analysts at Piper Sandler from $274.00 to $300.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the insurance provider’s stock. Piper Sandler‘s price target points to a potential upside of 11.41% from the company’s previous close.

RGA has been the topic of several other reports. Morgan Stanley upgraded Reinsurance Group of America from an “equal weight” rating to an “overweight” rating and set a $295.00 price target on the stock in a research report on Monday, September 28th. Wells Fargo & Company lifted their target price on Reinsurance Group of America from $291.00 to $292.00 and gave the stock an “overweight” rating in a report on Monday, October 12th. UBS Group upgraded shares of Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Reinsurance Group of America in a research report on Wednesday. Finally, TD Cowen boosted their price target on Reinsurance Group of America from $235.00 to $250.00 and gave the company a “hold” rating in a report on Wednesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Reinsurance Group of America has a consensus rating of “Buy” and an average target price of $278.62.

Reinsurance Group of America Trading Up 2.8%

Shares of NYSE RGA traded up $7.37 during mid-day trading on Monday, hitting $269.27. The stock had a trading volume of 77,943 shares, compared to its average volume of 379,164. Reinsurance Group of America has a 1 year low of $182.73 and a 1 year high of $272.44. The firm has a market cap of $17.58 billion, a P/E ratio of 10.41 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 business has a 50 day moving average price of $255.16 and a two-hundred day moving average price of $226.33.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Thursday, November 5th. The insurance provider reported $8.49 earnings per share for the quarter, topping the consensus estimate of $6.97 by $1.52. Reinsurance Group of America had a return on equity of 16.18% and a net margin of 6.26%. The business had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $6.69 billion. During the same quarter last year, the business posted $6.37 EPS. On average, equities analysts anticipate that Reinsurance Group of America will post 29.78 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Jonathan Porter sold 8,589 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $246.30, for a total transaction of $2,115,470.70. Following the sale, the executive vice president owned 14,885 shares of the company’s stock, valued at $3,666,175.50. This represents a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Reinsurance Group of America

Institutional investors have recently modified their holdings of the stock. Optas LLC purchased a new position in Reinsurance Group of America during the third quarter worth $231,000. Mawer Investment Management Ltd. bought a new position in Reinsurance Group of America in the third quarter worth approximately $3,232,000. Allworth Financial LP increased its stake in shares of Reinsurance Group of America by 2.7% during the third quarter. Allworth Financial LP now owns 2,175 shares of the insurance provider’s stock valued at $536,000 after buying an additional 57 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Reinsurance Group of America by 0.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 252,024 shares of the insurance provider’s stock valued at $62,066,000 after purchasing an additional 1,499 shares in the last quarter. Finally, Maryland State Retirement & Pension System lifted its holdings in Reinsurance Group of America by 14.6% during the third quarter. Maryland State Retirement & Pension System now owns 3,748 shares of the insurance provider’s stock worth $923,000 after buying an additional 478 shares during the period. 95.11% of the stock is owned by institutional investors.

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.