Reinsurance Group of America (NYSE:RGA) Upgraded at JPMorgan Chase & Co.

Reinsurance Group of America (NYSE:RGA) was upgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a $237.00 price objective on the insurance provider’s stock, up from their previous price objective of $232.00. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 19.61% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Barclays lowered their target price on Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and issued a $245.00 price target on shares of Reinsurance Group of America in a report on Monday, February 10th. Piper Sandler cut their price objective on shares of Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Morgan Stanley cut their price objective on shares of Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. Finally, Wells Fargo & Company raised their target price on shares of Reinsurance Group of America from $263.00 to $264.00 and gave the company an “overweight” rating in a research report on Tuesday, February 25th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Reinsurance Group of America presently has an average rating of “Buy” and an average target price of $232.23.

Reinsurance Group of America Stock Up 0.6 %

Reinsurance Group of America stock opened at $198.14 on Wednesday. The company has a market capitalization of $13.08 billion, a P/E ratio of 18.45 and a beta of 0.91. The company has a current ratio of 0.15, a quick ratio of 0.17 and a debt-to-equity ratio of 0.46. The firm’s fifty day simple moving average is $203.89 and its 200-day simple moving average is $213.33. Reinsurance Group of America has a 1-year low of $178.84 and a 1-year high of $233.81.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Thursday, February 6th. The insurance provider reported $4.99 EPS for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.23). Reinsurance Group of America had a net margin of 3.24% and a return on equity of 14.55%. Sell-side analysts forecast 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 institutional investors and hedge funds have recently modified their holdings of RGA. Townsquare Capital LLC grew its stake in Reinsurance Group of America by 17.3% in the 3rd quarter. Townsquare Capital LLC now owns 1,813 shares of the insurance provider’s stock valued at $395,000 after buying an additional 267 shares during the last quarter. Captrust Financial Advisors grew its position in shares of Reinsurance Group of America by 3.5% in the third quarter. Captrust Financial Advisors now owns 15,531 shares of the insurance provider’s stock valued at $3,384,000 after purchasing an additional 529 shares during the last quarter. Benjamin Edwards Inc. bought a new position in shares of Reinsurance Group of America during the third quarter worth approximately $427,000. Hilltop Holdings Inc. acquired a new stake in Reinsurance Group of America during the 3rd quarter worth approximately $228,000. Finally, HighTower Advisors LLC boosted its stake in Reinsurance Group of America by 13.3% in the 3rd quarter. HighTower Advisors LLC now owns 51,855 shares of the insurance provider’s stock valued at $11,266,000 after purchasing an additional 6,101 shares during the period. 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.