Reinsurance Group of America (NYSE:RGA) Given New $210.00 Price Target at Wells Fargo & Company

Reinsurance Group of America (NYSE:RGA) had its target price upped by analysts at Wells Fargo & Company from $193.00 to $210.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 13.93% from the stock’s previous close.

Several other equities research analysts have also commented on RGA. Royal Bank of Canada boosted their price target on shares of Reinsurance Group of America from $170.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, February 5th. JPMorgan Chase & Co. boosted their price target on shares of Reinsurance Group of America from $170.00 to $189.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. Piper Sandler boosted their price target on shares of Reinsurance Group of America from $195.00 to $220.00 and gave the company an “overweight” rating in a report on Friday, April 5th. UBS Group boosted their price target on shares of Reinsurance Group of America from $198.00 to $223.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Evercore ISI boosted their price objective on shares of Reinsurance Group of America from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $193.23.

Reinsurance Group of America Price Performance

Reinsurance Group of America stock opened at $184.32 on Thursday. The stock has a market cap of $12.12 billion, a price-to-earnings ratio of 13.72 and a beta of 0.89. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.17 and a quick ratio of 0.17. Reinsurance Group of America has a 1 year low of $133.13 and a 1 year high of $196.25. The firm has a 50-day moving average of $180.89 and a two-hundred day moving average of $166.36.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Friday, February 2nd. The insurance provider reported $4.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.40 by $0.33. The company had revenue of $5.01 billion during the quarter, compared to analysts’ expectations of $4.57 billion. Reinsurance Group of America had a net margin of 4.86% and a return on equity of 16.20%. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.99 EPS. On average, research analysts forecast that Reinsurance Group of America will post 19.38 earnings per share for the current year.

Insider Buying and Selling

In other Reinsurance Group of America news, CFO Todd C. Larson sold 2,966 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $182.88, for a total transaction of $542,422.08. Following the completion of the transaction, the chief financial officer now directly owns 49,549 shares in the company, valued at $9,061,521.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Reinsurance Group of America news, EVP William L. Hutton sold 1,908 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $181.84, for a total transaction of $346,950.72. Following the completion of the transaction, the executive vice president now owns 13,363 shares of the company’s stock, valued at $2,429,927.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Todd C. Larson sold 2,966 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $182.88, for a total transaction of $542,422.08. Following the completion of the transaction, the chief financial officer now directly owns 49,549 shares of the company’s stock, valued at approximately $9,061,521.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,462 shares of company stock valued at $1,162,239. Corporate insiders own 1.31% of the company’s stock.

Institutional Trading of Reinsurance Group of America

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Picton Mahoney Asset Management boosted its position in shares of Reinsurance Group of America by 121.9% during the 3rd quarter. Picton Mahoney Asset Management now owns 122,552 shares of the insurance provider’s stock worth $17,794,000 after purchasing an additional 67,318 shares in the last quarter. Raymond James & Associates grew its stake in Reinsurance Group of America by 13.0% in the 4th quarter. Raymond James & Associates now owns 244,771 shares of the insurance provider’s stock valued at $39,599,000 after acquiring an additional 28,193 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Reinsurance Group of America by 93.8% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 22,655 shares of the insurance provider’s stock worth $3,289,000 after purchasing an additional 10,968 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Reinsurance Group of America by 231.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 142,322 shares of the insurance provider’s stock worth $23,025,000 after purchasing an additional 99,406 shares during the last quarter. Finally, Amalgamated Bank boosted its stake in shares of Reinsurance Group of America by 12.5% during the 3rd quarter. Amalgamated Bank now owns 48,884 shares of the insurance provider’s stock worth $7,097,000 after purchasing an additional 5,434 shares during the last quarter. Institutional investors and hedge funds 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.