Reinsurance Group of America (NYSE:RGA) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Reinsurance Group of America (NYSE:RGA) had its price objective raised by analysts at Wells Fargo & Company from $291.00 to $292.00 in a report issued on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s target price points to a potential upside of 13.17% from the company’s previous close.

A number of other research analysts have also commented on RGA. Weiss Ratings reissued a “buy (b)” rating on shares of Reinsurance Group of America in a report on Friday, August 7th. JPMorgan Chase & Co. boosted their target price on Reinsurance Group of America from $286.00 to $293.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. UBS Group upgraded Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a 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 target price for the company in a research report on Monday, September 28th. Finally, Barclays set a $292.00 price target on Reinsurance Group of America in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $267.89.

Reinsurance Group of America Trading Down 0.7%

Reinsurance Group of America stock opened at $258.01 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.14 and a quick ratio of 0.14. The company has a market capitalization of $16.85 billion, a price-to-earnings ratio of 8.67 and a beta of 0.45. Reinsurance Group of America has a one year low of $178.21 and a one year high of $263.00. The company’s fifty day moving average price is $247.85 and its two-hundred day moving average price is $226.69.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, August 6th. The insurance provider reported $8.89 earnings per share for the quarter, beating the consensus estimate of $6.50 by $2.39. The company 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%. The business’s revenue 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. On average, analysts forecast that Reinsurance Group of America will post 29.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Reinsurance Group of America news, EVP Jonathan Porter sold 8,589 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $246.30, for a total transaction of $2,115,470.70. Following the completion of the sale, the executive vice president directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Reinsurance Group of America

A number of institutional investors have recently made changes to their positions in RGA. SEB Asset Management AB acquired a new position in Reinsurance Group of America in the first quarter worth about $81,533,000. Bank of New York Mellon Corp bought a new position in Reinsurance Group of America during the second quarter worth about $82,836,000. Lazard Asset Management LLC boosted its holdings in Reinsurance Group of America by 2,626.6% during the first quarter. Lazard Asset Management LLC now owns 195,794 shares of the insurance provider’s stock valued at $39,973,000 after purchasing an additional 188,613 shares in the last quarter. Wedge Capital Management L L P NC boosted its holdings in Reinsurance Group of America by 965.2% during the second quarter. Wedge Capital Management L L P NC now owns 179,440 shares of the insurance provider’s stock valued at $38,158,000 after purchasing an additional 162,594 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Reinsurance Group of America by 44.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 335,734 shares of the insurance provider’s stock valued at $68,543,000 after purchasing an additional 102,698 shares in the last quarter. 95.11% of the stock is currently owned by institutional investors.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated (NYSE:RGA) is a global provider of life and health reinsurance. The company helps insurance organizations manage mortality, longevity, morbidity and other insurance risks by assuming portions of their business and providing capital, risk-management expertise and specialized underwriting support.

RGA offers traditional reinsurance and financial solutions for individual life insurance, group life and health coverage, retirement and annuity products, long-term care and disability insurance.