Barclays Forecasts Strong Price Appreciation for Reinsurance Group of America (NYSE:RGA) Stock

Reinsurance Group of America (NYSE:RGA) had its price target increased by research analysts at Barclays from $245.00 to $256.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the insurance provider’s stock. Barclays‘s price objective would indicate a potential upside of 21.10% from the company’s previous close.

Several other brokerages have also issued reports on RGA. Wells Fargo & Company lifted their price target on Reinsurance Group of America from $238.00 to $261.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. Wall Street Zen raised Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Reinsurance Group of America in a research note on Monday, December 29th. Morgan Stanley lifted their price target on Reinsurance Group of America from $208.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 3rd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $263.00 price target on shares of Reinsurance Group of America in a research note on Friday, February 6th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $251.17.

Reinsurance Group of America Price Performance

RGA stock traded up $3.05 during mid-day trading on Wednesday, hitting $211.40. 113,270 shares of the stock were exchanged, compared to its average volume of 383,797. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.14 and a quick ratio of 0.14. The business has a fifty day moving average price of $209.74 and a 200 day moving average price of $199.74. Reinsurance Group of America has a 12 month low of $164.58 and a 12 month high of $229.21. The stock has a market capitalization of $13.86 billion, a price-to-earnings ratio of 11.91 and a beta of 0.52.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, February 5th. The insurance provider reported $7.75 earnings per share (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 analyst estimates of $6.25 billion. During the same quarter in the previous year, the company posted $4.99 earnings per share. The company’s revenue was up 26.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Reinsurance Group of America will post 22.9 EPS for the current year.

Hedge Funds Weigh In On Reinsurance Group of America

Large investors have recently bought and sold shares of the stock. Millstone Evans Group LLC increased its stake in 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 worth $26,000 after purchasing an additional 61 shares during the period. Activest Wealth Management purchased a new position in Reinsurance Group of America during the 4th quarter valued at about $30,000. Root Financial Partners LLC purchased a new position in Reinsurance Group of America during the 3rd quarter valued at about $33,000. Tobam increased its holdings in Reinsurance Group of America by 244.7% during 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 period. Finally, International Assets Investment Management LLC purchased a new position in Reinsurance Group of America during the 4th quarter valued at about $35,000. 95.11% of the stock is owned by hedge funds and other institutional investors.

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.