Reinsurance Group of America (NYSE:RGA) Rating Increased to Strong-Buy at UBS Group

Reinsurance Group of America (NYSE:RGA) was upgraded by research analysts at UBS Group from a “hold” rating to a “strong-buy” rating in a report issued on Friday,Zacks.com reports.

A number of other research firms also recently issued reports on RGA. Piper Sandler decreased their price target on shares of Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Weiss Ratings restated a “buy (b)” rating on shares of Reinsurance Group of America in a report on Wednesday, May 13th. Wells Fargo & Company upped their target price on shares of Reinsurance Group of America from $261.00 to $269.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. increased their price target on shares of Reinsurance Group of America from $270.00 to $286.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, TD Cowen lifted their price target on Reinsurance Group of America from $212.00 to $235.00 and gave the stock a “hold” rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $255.00.

Reinsurance Group of America Stock Up 2.0%

Shares of RGA opened at $238.93 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.14 and a quick ratio of 0.14. The stock has a market capitalization of $15.65 billion, a price-to-earnings ratio of 12.94 and a beta of 0.47. Reinsurance Group of America has a 1 year low of $165.52 and a 1 year high of $245.00. The business’s 50 day simple moving average is $216.78 and its 200-day simple moving average is $210.82.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, May 7th. The insurance provider reported $6.97 earnings per share for the quarter, beating analysts’ consensus estimates of $6.03 by $0.94. Reinsurance Group of America had a net margin of 4.92% and a return on equity of 13.16%. The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.47 billion. During the same period last year, the firm posted $5.66 earnings per share. Reinsurance Group of America’s revenue for the quarter was up 23.5% compared to the same quarter last year. As a group, equities analysts expect that Reinsurance Group of America will post 26.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Ronald Herrmann sold 7,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $210.58, for a total value of $1,474,060.00. Following the completion of the sale, the executive vice president owned 3,938 shares in the company, valued at approximately $829,264.04. This trade represents a 64.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John W. Hayden sold 414 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total transaction of $88,989.30. Following the completion of the sale, the executive vice president owned 20,949 shares of the company’s stock, valued at $4,502,987.55. This trade represents a 1.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Reinsurance Group of America

Several hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its position in shares of Reinsurance Group of America by 44.3% during the first quarter. Goldman Sachs Group Inc. now owns 221,198 shares of the insurance provider’s stock valued at $43,554,000 after buying an additional 67,880 shares during the period. Focus Partners Wealth grew its stake in shares of Reinsurance Group of America by 121.2% during the first quarter. Focus Partners Wealth now owns 2,676 shares of the insurance provider’s stock valued at $527,000 after buying an additional 1,466 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Reinsurance Group of America by 17.6% in the first quarter. Geneos Wealth Management Inc. now owns 388 shares of the insurance provider’s stock worth $76,000 after buying an additional 58 shares during the period. Gabelli Funds LLC purchased a new stake in shares of Reinsurance Group of America in the second quarter worth approximately $1,006,000. Finally, Cerity Partners LLC lifted its stake in shares of Reinsurance Group of America by 15.5% during the 2nd quarter. Cerity Partners LLC now owns 33,716 shares of the insurance provider’s stock worth $6,688,000 after acquiring an additional 4,527 shares during 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 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.