Morgan Stanley Lowers Reinsurance Group of America (NYSE:RGA) Price Target to $236.00

Reinsurance Group of America (NYSE:RGA) had its target price decreased by investment analysts at Morgan Stanley from $238.00 to $236.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the insurance provider’s stock. Morgan Stanley’s target price would indicate a potential upside of 12.48% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. JPMorgan Chase & Co. lifted their price target on Reinsurance Group of America from $208.00 to $220.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Piper Sandler lifted their price target on Reinsurance Group of America from $228.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, June 28th. UBS Group lifted their target price on Reinsurance Group of America from $223.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Wells Fargo & Company lifted their price target on Reinsurance Group of America from $236.00 to $239.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Finally, Keefe, Bruyette & Woods lifted their price target on Reinsurance Group of America from $220.00 to $235.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $220.45.

Reinsurance Group of America Trading Up 0.2 %

NYSE RGA traded up $0.43 during mid-day trading on Monday, hitting $209.81. The company’s stock had a trading volume of 38,534 shares, compared to its average volume of 375,059. Reinsurance Group of America has a 52-week low of $135.07 and a 52-week high of $227.87. The stock’s fifty day simple moving average is $208.75 and its two-hundred day simple moving average is $196.00. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.17 and a quick ratio of 0.17. The firm has a market capitalization of $13.80 billion, a P/E ratio of 16.30 and a beta of 0.92.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.94 by $0.54. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The company had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $5.07 billion. During the same quarter last year, the company earned $4.40 earnings per share. Reinsurance Group of America’s revenue for the quarter was up 17.4% on a year-over-year basis. Research analysts expect that Reinsurance Group of America will post 21.5 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Quarry LP bought a new stake in Reinsurance Group of America in the second quarter valued at $151,000. Creative Planning lifted its holdings in Reinsurance Group of America by 4.7% in the second quarter. Creative Planning now owns 10,056 shares of the insurance provider’s stock valued at $2,064,000 after buying an additional 451 shares during the period. Algert Global LLC bought a new position in Reinsurance Group of America in the second quarter valued at approximately $1,751,000. Susquehanna Fundamental Investments LLC acquired a new stake in Reinsurance Group of America during the 2nd quarter worth $1,669,000. Finally, Lighthouse Investment Partners LLC bought a new stake in shares of Reinsurance Group of America during the 2nd quarter valued at $1,957,000. 95.11% of the stock is currently owned by institutional investors and hedge funds.

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.