Barclays Increases Reinsurance Group of America (NYSE:RGA) Price Target to $256.00

Reinsurance Group of America (NYSE:RGA) had its price objective upped by equities researchers at Barclays from $245.00 to $256.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the insurance provider’s stock. Barclays‘s target price would indicate a potential upside of 22.63% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Morgan Stanley upped their target price on Reinsurance Group of America from $208.00 to $223.00 and gave the company an “equal weight” rating in a report on Tuesday, March 3rd. Piper Sandler restated an “overweight” rating and issued a $263.00 target price on shares of Reinsurance Group of America in a report on Friday, February 6th. TD Cowen restated a “hold” rating on shares of Reinsurance Group of America in a report on Wednesday, January 28th. Weiss Ratings restated a “buy (b-)” rating on shares of Reinsurance Group of America in a report on Monday, December 29th. Finally, Wells Fargo & Company upped their target price on Reinsurance Group of America from $238.00 to $261.00 and gave the company an “overweight” rating in a report on Wednesday, February 25th. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $246.71.

Reinsurance Group of America Stock Down 1.2%

Shares of RGA opened at $208.75 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.14 and a current ratio of 0.14. Reinsurance Group of America has a one year low of $165.52 and a one year high of $229.21. The stock has a market capitalization of $13.69 billion, a price-to-earnings ratio of 11.76 and a beta of 0.52. The stock has a 50 day moving average price of $210.23 and a 200 day moving average price of $199.88.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, February 5th. The insurance provider reported $7.75 EPS for the quarter, topping the consensus estimate of $5.86 by $1.89. Reinsurance Group of America had a return on equity of 12.99% and a net margin of 4.99%.The firm had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.25 billion. During the same period in the previous year, the business earned $4.99 earnings per share. The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. Equities research 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

Large investors have recently modified their holdings of the business. Millstone Evans Group LLC lifted its stake in shares of Reinsurance Group of America by 82.4% in the 3rd quarter. Millstone Evans Group LLC now owns 135 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 61 shares during the last quarter. Activest Wealth Management acquired a new position in shares of Reinsurance Group of America in the 4th quarter valued at $30,000. Root Financial Partners LLC acquired a new position in shares of Reinsurance Group of America in the 3rd quarter valued at $33,000. Tobam lifted its stake in shares of Reinsurance Group of America by 244.7% in the 4th quarter. Tobam now owns 162 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 115 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Reinsurance Group of America in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

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.