Reinsurance Group of America (NYSE:RGA) Stock Price Expected to Rise, Piper Sandler Analyst Says

Reinsurance Group of America (NYSE:RGA – Get Free Report) had its price objective hoisted by equities research analysts at Piper Sandler from $274.00 to $300.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the insurance provider’s stock. Piper Sandler‘s price target would indicate a potential upside of 11.41% from the company’s current price.

RGA has been the subject of several other research reports. UBS Group raised 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 price objective for the company in a report on Monday, September 28th. TD Cowen increased their price target on shares of Reinsurance Group of America from $235.00 to $250.00 and gave the stock a “hold” rating in a research report on Wednesday, October 21st. Wells Fargo & Company boosted their target price on Reinsurance Group of America from $291.00 to $292.00 and gave the stock an “overweight” rating in a research note on Monday, October 12th. Finally, JPMorgan Chase & Co. boosted their price objective on Reinsurance Group of America from $293.00 to $297.00 and gave the stock an “overweight” rating in a research report on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Reinsurance Group of America has an average rating of “Buy” and a consensus target price of $278.62.

View Our Latest Report on RGA

Reinsurance Group of America Stock Up 2.8%

RGA stock traded up $7.37 during mid-day trading on Monday, reaching $269.27. The company had a trading volume of 77,943 shares, compared to its average volume of 379,164. The company has a market capitalization of $17.58 billion, a price-to-earnings ratio of 10.41 and a beta of 0.43. Reinsurance Group of America has a 52 week low of $182.73 and a 52 week high of $272.44. The stock has a 50 day simple moving average of $255.16 and a two-hundred day simple moving average of $226.33. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.16 and a quick ratio of 0.14.

Reinsurance Group of America (NYSE:RGA – Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The insurance provider reported $8.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.97 by $1.52. Reinsurance Group of America had a return on equity of 16.18% and a net margin of 6.26%. The company had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $6.69 billion. During the same quarter in the prior year, the business posted $6.37 EPS. As a group, equities analysts predict that Reinsurance Group of America will post 29.78 earnings per share for the current fiscal year.

Insider Transactions at Reinsurance Group of America

In other Reinsurance Group of America news, EVP Jonathan Porter sold 8,589 shares of the firm’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $246.30, for a total value 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 approximately $3,666,175.50. This trade represents a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Reinsurance Group of America

Hedge funds have recently added to or reduced their stakes in the company. Balance Wealth Partners LLC bought a new position in shares of Reinsurance Group of America in the third quarter valued at approximately $30,000. Reyes Financial Architecture Inc. bought a new position in Reinsurance Group of America during the third quarter worth about $38,000. Kelly Lawrence W & Associates Inc. CA purchased a new position in Reinsurance Group of America in the 2nd quarter valued at approximately $53,000. Fortitude Family Office LLC raised its stake in shares of Reinsurance Group of America by 62.7% during the 3rd quarter. Fortitude Family Office LLC now owns 249 shares of the insurance provider’s stock valued at $61,000 after purchasing an additional 96 shares during the period. Finally, Pension & Wealth Management Advisors Inc. purchased a new stake in shares of Reinsurance Group of America in the third quarter worth about $66,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

Reinsurance Group of America Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Reinsurance Group of America (NYSE:RGA)

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