Reinsurance Group of America (NYSE:RGA – Get Free Report) had its price target lifted by equities research analysts at Wells Fargo & Company from $261.00 to $269.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 16.28% from the company’s previous close.
A number of other research firms also recently issued reports on RGA. Evercore reiterated an “outperform” rating and issued a $267.00 price objective on shares of Reinsurance Group of America in a report on Monday, May 18th. Piper Sandler decreased their target price on shares of Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. Wall Street Zen upgraded shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Reinsurance Group of America in a research report on Wednesday, May 13th. Finally, UBS Group increased their price objective on shares of Reinsurance Group of America from $220.00 to $236.00 and gave the stock a “neutral” rating in a research note on Wednesday. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $255.50.
Check Out Our Latest Report on RGA
Reinsurance Group of America Stock Up 0.4%
Reinsurance Group of America (NYSE:RGA – Get Free Report) last released its earnings results on Thursday, May 7th. The insurance provider reported $6.97 EPS for the quarter, beating the consensus estimate of $6.03 by $0.94. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.The firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.47 billion. During the same quarter in the previous year, the business posted $5.66 EPS. The business’s quarterly revenue was up 23.5% compared to the same quarter last year. On average, sell-side analysts expect that Reinsurance Group of America will post 26.86 EPS for the current fiscal year.
Insiders Place Their Bets
In other Reinsurance Group of America news, EVP John W. Hayden sold 414 shares of Reinsurance Group of America 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 transaction, the executive vice president directly owned 20,949 shares of the company’s stock, valued at approximately $4,502,987.55. The trade was a 1.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ronald Herrmann sold 7,000 shares of the company’s stock in a transaction that occurred on 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 $829,264.04. The trade was a 64.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the company. Activest Wealth Management bought a new stake in Reinsurance Group of America in the 4th quarter worth about $30,000. Tobam raised its stake in shares of Reinsurance Group of America by 244.7% during the 4th quarter. Tobam now owns 162 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 115 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Reinsurance Group of America in the 4th quarter worth about $35,000. Advisory Services Network LLC bought a new position in Reinsurance Group of America during the third quarter valued at about $38,000. Finally, Entrust Financial LLC purchased a new stake in Reinsurance Group of America during the fourth quarter worth about $40,000. 95.11% of the stock is owned by institutional investors and hedge funds.
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.
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