Reinsurance Group of America (NYSE:RGA) Price Target Raised to $293.00 at JPMorgan Chase & Co.

Reinsurance Group of America (NYSE:RGA) had its price target upped by equities researchers at JPMorgan Chase & Co. from $286.00 to $293.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 19.56% from the company’s previous close.

A number of other brokerages have also recently commented on RGA. TD Cowen raised their price objective on shares of Reinsurance Group of America from $212.00 to $235.00 and gave the stock a “hold” rating in a research note on Wednesday, July 22nd. Evercore reiterated an “outperform” rating and issued a $267.00 target price on shares of Reinsurance Group of America in a research note on Monday, May 18th. Weiss Ratings reissued a “buy (b)” rating on shares of Reinsurance Group of America in a report on Wednesday, May 13th. Wells Fargo & Company raised their price target on shares of Reinsurance Group of America from $261.00 to $269.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Finally, Piper Sandler cut their price objective on shares of Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating for the company in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $257.11.

Reinsurance Group of America Stock Performance

Shares of RGA stock traded up $2.96 on Tuesday, hitting $245.06. The company had a trading volume of 34,788 shares, compared to its average volume of 372,319. Reinsurance Group of America has a twelve month low of $178.21 and a twelve month high of $248.13. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.41. The firm has a market cap of $16.05 billion, a P/E ratio of 10.75 and a beta of 0.47. The company has a 50-day moving average price of $223.26 and a 200-day moving average price of $214.00.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, August 6th. The insurance provider reported $8.89 EPS for the quarter, topping the consensus estimate of $6.50 by $2.39. The firm had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.67 billion. Reinsurance Group of America had a return on equity of 14.78% and a net margin of 5.81%.Reinsurance Group of America’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period last year, the company earned $4.72 earnings per share. As a group, equities research analysts predict that Reinsurance Group of America will post 26.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP John W. Hayden sold 414 shares of Reinsurance Group of America stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total value of $88,989.30. Following the sale, the executive vice president directly owned 20,949 shares of the company’s stock, valued at $4,502,987.55. The trade was a 1.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ronald Herrmann sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $210.58, for a total value of $1,474,060.00. Following the sale, the executive vice president owned 3,938 shares of the company’s stock, valued at $829,264.04. The trade was a 64.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Reinsurance Group of America

A number of hedge funds have recently modified their holdings of RGA. Goldman Sachs Group Inc. lifted its stake in shares of Reinsurance Group of America by 44.3% in the first quarter. Goldman Sachs Group Inc. now owns 221,198 shares of the insurance provider’s stock worth $43,554,000 after buying an additional 67,880 shares in the last quarter. Focus Partners Wealth lifted its stake in Reinsurance Group of America by 121.2% in the 1st quarter. Focus Partners Wealth now owns 2,676 shares of the insurance provider’s stock worth $527,000 after purchasing an additional 1,466 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Reinsurance Group of America by 17.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 388 shares of the insurance provider’s stock worth $76,000 after purchasing an additional 58 shares during the last quarter. Gabelli Funds LLC purchased a new stake in shares of Reinsurance Group of America in the second quarter valued at approximately $1,006,000. Finally, Cerity Partners LLC increased its holdings in shares of Reinsurance Group of America by 15.5% in the second quarter. Cerity Partners LLC now owns 33,716 shares of the insurance provider’s stock valued at $6,688,000 after purchasing an additional 4,527 shares during the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.