Reinsurance Group of America (NYSE:RGA) Given New $312.00 Price Target at Wells Fargo & Company

Reinsurance Group of America (NYSE:RGA) had its target price raised by stock analysts at Wells Fargo & Company from $292.00 to $312.00 in a research report issued on Thursday, 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 14.32% from the company’s previous close.

A number of other research analysts have also recently commented on the stock. Morgan Stanley upgraded shares of 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 note on Monday, September 28th. Piper Sandler lifted their price objective on Reinsurance Group of America from $274.00 to $300.00 and gave the company an “overweight” rating in a report on Monday. Weiss Ratings reiterated a “buy (b)” rating on shares of Reinsurance Group of America in a research note on Wednesday, November 4th. JPMorgan Chase & Co. increased their target price on Reinsurance Group of America from $293.00 to $297.00 and gave the stock an “overweight” rating in a report on Thursday, October 15th. Finally, UBS Group raised Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $281.12.

Reinsurance Group of America Trading Down 0.4%

Shares of RGA stock opened at $272.93 on Thursday. The firm has a fifty day moving average of $256.65 and a 200-day moving average of $227.47. The stock has a market cap of $17.75 billion, a price-to-earnings ratio of 10.55 and a beta of 0.43. Reinsurance Group of America has a 52-week low of $182.73 and a 52-week high of $275.70. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.14 and a current ratio of 0.16.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Thursday, November 5th. The insurance provider reported $8.49 earnings per share for the quarter, beating the consensus estimate of $6.97 by $1.52. The business had revenue of $7.55 billion for the quarter, compared to analyst estimates of $6.69 billion. Reinsurance Group of America had a net margin of 6.26% and a return on equity of 16.18%. During the same period in the previous year, the business earned $6.37 EPS. On average, equities research analysts forecast that Reinsurance Group of America will post 30.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Reinsurance Group of America

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RGA. SEB Asset Management AB bought a new stake in Reinsurance Group of America during the first quarter worth about $81,533,000. Bank of New York Mellon Corp acquired a new stake in shares of Reinsurance Group of America during the second quarter worth approximately $82,836,000. Lazard Asset Management LLC increased its holdings in shares of 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 worth $39,973,000 after buying an additional 188,613 shares in the last quarter. Wedge Capital Management L L P NC raised its stake in shares of Reinsurance Group of America by 965.2% in 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 acquiring an additional 162,594 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Reinsurance Group of America in the third quarter valued at approximately $30,927,000. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated (RGA) is a global life and health reinsurer. It works with insurance companies to help them manage risks and support the development and distribution of insurance products. Its services include life and health reinsurance, as well as solutions involving longevity risk and asset-intensive reinsurance. RGA also provides underwriting expertise, data and analytics, and product and risk-management support to its clients. Founded in 1973, RGA serves clients across North America, Latin America, Europe, the Middle East and Africa, and Asia Pacific.