Reinsurance Group of America (NYSE:RGA) Stock Rating Reaffirmed by Royal Bank of Canada

Reinsurance Group of America (NYSE:RGA)‘s stock had its “outperform” rating reaffirmed by investment analysts at Royal Bank of Canada in a report released on Friday, Benzinga reports. They currently have a $225.00 target price on the insurance provider’s stock. Royal Bank of Canada’s price objective points to a potential upside of 11.38% from the stock’s current price.

A number of other brokerages have also issued reports on RGA. Wells Fargo & Company lifted their target price on Reinsurance Group of America from $210.00 to $227.00 and gave the stock an “overweight” rating in a research report on Friday, May 10th. Piper Sandler upped their target price on Reinsurance Group of America from $195.00 to $220.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Evercore ISI raised their price target on shares of Reinsurance Group of America from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Keefe, Bruyette & Woods upped their price target on shares of Reinsurance Group of America from $220.00 to $235.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. Finally, UBS Group raised their price objective on shares of Reinsurance Group of America from $223.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Reinsurance Group of America has a consensus rating of “Moderate Buy” and a consensus target price of $206.00.

Reinsurance Group of America Stock Up 0.3 %

NYSE RGA opened at $202.01 on Friday. The stock has a market cap of $13.29 billion, a PE ratio of 15.70 and a beta of 0.92. The business has a 50 day moving average price of $199.41 and a two-hundred day moving average price of $181.92. Reinsurance Group of America has a fifty-two week low of $135.07 and a fifty-two week high of $213.21. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.46.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Friday, May 3rd. The insurance provider reported $6.02 earnings per share 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 business had revenue of $6.34 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the prior year, the firm earned $5.16 earnings per share. As a group, sell-side analysts predict that Reinsurance Group of America will post 20.66 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP John W. Hayden sold 1,767 shares of Reinsurance Group of America stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $206.85, for a total value of $365,503.95. Following the sale, the executive vice president now directly owns 16,490 shares in the company, valued at approximately $3,410,956.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.37% of the stock is owned by corporate insiders.

Institutional Trading of Reinsurance Group of America

Several hedge funds have recently added to or reduced their stakes in the business. Covestor Ltd raised its position in shares of Reinsurance Group of America by 20.3% during the 1st quarter. Covestor Ltd now owns 374 shares of the insurance provider’s stock worth $72,000 after buying an additional 63 shares in the last quarter. Toth Financial Advisory Corp raised its holdings in Reinsurance Group of America by 41.2% during the fourth quarter. Toth Financial Advisory Corp now owns 240 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 70 shares in the last quarter. Tectonic Advisors LLC lifted its position in Reinsurance Group of America by 4.3% in the fourth quarter. Tectonic Advisors LLC now owns 1,979 shares of the insurance provider’s stock worth $320,000 after purchasing an additional 82 shares during the period. Lindbrook Capital LLC boosted its stake in Reinsurance Group of America by 129.9% during the 4th quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 87 shares in the last quarter. Finally, Private Advisor Group LLC increased its position in shares of Reinsurance Group of America by 2.2% during the 4th quarter. Private Advisor Group LLC now owns 4,246 shares of the insurance provider’s stock valued at $687,000 after purchasing an additional 92 shares during the period. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Company Profile

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.