Wells Fargo & Company Has Lowered Expectations for Reinsurance Group of America (NYSE:RGA) Stock Price

Reinsurance Group of America (NYSE:RGA) had its target price dropped by equities research analysts at Wells Fargo & Company from $264.00 to $246.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 38.39% from the company’s current price.

Several other equities research analysts have also recently commented on RGA. Keefe, Bruyette & Woods cut their price target on shares of Reinsurance Group of America from $275.00 to $250.00 and set an “outperform” rating on the stock in a research report on Wednesday. Morgan Stanley reduced their price target on Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. Evercore ISI decreased their price target on Reinsurance Group of America from $280.00 to $270.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. UBS Group reiterated a “neutral” rating and set a $216.00 price objective (down previously from $250.00) on shares of Reinsurance Group of America in a research note on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. raised shares of Reinsurance Group of America from a “neutral” rating to an “overweight” rating and raised their target price for the company from $232.00 to $237.00 in a research note on Wednesday, April 2nd. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $230.15.

Reinsurance Group of America Stock Up 2.4 %

Shares of Reinsurance Group of America stock opened at $177.76 on Thursday. The firm has a market cap of $11.74 billion, a PE ratio of 16.55 and a beta of 0.70. The business’s 50 day simple moving average is $193.93 and its 200 day simple moving average is $210.55. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.17 and a current ratio of 0.15. Reinsurance Group of America has a 52-week low of $159.25 and a 52-week high of $233.81.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Thursday, February 6th. The insurance provider reported $4.99 earnings per share (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%. On average, analysts predict that Reinsurance Group of America will post 22.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Alliancebernstein L.P. grew its position in shares of Reinsurance Group of America by 389.4% in the fourth quarter. Alliancebernstein L.P. now owns 1,123,022 shares of the insurance provider’s stock valued at $239,911,000 after purchasing an additional 893,537 shares during the last quarter. Norges Bank bought a new stake in Reinsurance Group of America in the 4th quarter valued at $174,082,000. FMR LLC grew its holdings in Reinsurance Group of America by 11.1% in the 4th quarter. FMR LLC now owns 5,640,788 shares of the insurance provider’s stock valued at $1,205,042,000 after buying an additional 564,693 shares in the last quarter. GAMMA Investing LLC increased its position in Reinsurance Group of America by 54,931.6% during the 1st quarter. GAMMA Investing LLC now owns 474,923 shares of the insurance provider’s stock worth $93,512,000 after buying an additional 474,060 shares during the period. Finally, Tidal Investments LLC lifted its holdings in shares of Reinsurance Group of America by 6,944.4% during the fourth quarter. Tidal Investments LLC now owns 285,368 shares of the insurance provider’s stock worth $60,963,000 after buying an additional 281,317 shares in the last quarter. 95.11% of the stock is owned by institutional investors.

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.