Reinsurance Group of America, Incorporated (NYSE:RGA) Stock Has Consensus Target Price of $270.00 According to Brokerages

Shares of Reinsurance Group of America, Incorporated (NYSE:RGA) have earned a consensus rating of “Buy” from the ten analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $270.00.

Several equities analysts recently issued reports on the company. UBS Group raised Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 24th. Morgan Stanley raised Reinsurance Group of America from an “equal weight” rating to an “overweight” rating and set a $295.00 price target for the company in a research report on Monday, September 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Reinsurance Group of America in a research note on Friday, August 7th. Wells Fargo & Company boosted their price target on Reinsurance Group of America from $291.00 to $292.00 and gave the company an “overweight” rating in a research note on Monday, October 12th. Finally, JPMorgan Chase & Co. increased their price objective on Reinsurance Group of America from $293.00 to $297.00 and gave the company an “overweight” rating in a report on Thursday, October 15th.

Insider Buying and Selling

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

Hedge Funds Weigh In On Reinsurance Group of America

Institutional investors have recently bought and sold shares of the business. Balance Wealth Partners LLC acquired a new position in shares of Reinsurance Group of America in the 3rd quarter valued at $30,000. Reyes Financial Architecture Inc. acquired a new stake in shares of Reinsurance Group of America during the 3rd quarter valued at about $38,000. Whipplewood Advisors LLC increased its holdings in Reinsurance Group of America by 4,400.0% in the 1st quarter. Whipplewood Advisors LLC now owns 225 shares of the insurance provider’s stock worth $46,000 after acquiring an additional 220 shares in the last quarter. Millstone Evans Group LLC boosted its holdings in Reinsurance Group of America by 77.0% in the 1st quarter. Millstone Evans Group LLC now owns 239 shares of the insurance provider’s stock worth $49,000 after buying an additional 104 shares during the last quarter. Finally, Fortitude Family Office LLC increased its position in shares of Reinsurance Group of America by 62.7% during the third quarter. Fortitude Family Office LLC now owns 249 shares of the insurance provider’s stock worth $61,000 after purchasing an additional 96 shares in the last quarter. 95.11% of the stock is owned by hedge funds and other institutional investors.

Reinsurance Group of America Stock Down 0.5%

NYSE:RGA opened at $261.41 on Monday. The company has a market cap of $17.07 billion, a PE ratio of 11.48 and a beta of 0.45. Reinsurance Group of America has a twelve month low of $178.21 and a twelve month high of $272.44. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.41. The company’s 50 day moving average is $252.35 and its two-hundred day moving average is $224.01.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Thursday, August 6th. The insurance provider reported $8.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $2.39. Reinsurance Group of America had a net margin of 5.81% and a return on equity of 14.78%. The business had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.67 billion. During the same quarter last year, the company posted $4.72 earnings per share. The business’s quarterly revenue was up 18.5% on a year-over-year basis. Analysts anticipate that Reinsurance Group of America will post 29.78 EPS for the current year.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated (NYSE:RGA) is a global provider of life and health reinsurance. The company works with insurance carriers to help them manage mortality, longevity, morbidity and other insurance risks, while supporting the development and distribution of life and health insurance products.

RGA’s offerings include traditional life reinsurance, including term, whole life and universal life coverage, as well as health reinsurance and financial solutions. Its financial solutions business provides capital management, asset-intensive reinsurance, longevity and other risk-management arrangements designed to help insurers manage their balance sheets and meet changing customer and regulatory needs.

Founded in 1973 as part of General American Life Insurance Company, RGA became an independent public company in 1993.