Piper Sandler Boosts Reinsurance Group of America (NYSE:RGA) Price Target to $150.00

Reinsurance Group of America (NYSE:RGAGet Rating) had its price objective boosted by research analysts at Piper Sandler from $135.00 to $150.00 in a research report issued to clients and investors on Friday, The Fly reports. Piper Sandler’s target price indicates a potential upside of 21.49% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Morgan Stanley raised shares of Reinsurance Group of America from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $126.00 to $132.00 in a research report on Thursday, May 19th. Citigroup assumed coverage on shares of Reinsurance Group of America in a research note on Monday. They issued a “sell” rating and a $110.00 target price for the company. Credit Suisse Group raised their price target on Reinsurance Group of America from $76.00 to $80.00 and gave the company an “underperform” rating in a report on Thursday, March 3rd. TheStreet lowered shares of Reinsurance Group of America from a “b-” rating to a “c” rating in a research report on Thursday, May 5th. Finally, Zacks Investment Research raised Reinsurance Group of America from a “strong sell” rating to a “hold” rating and set a $116.00 price target for the company in a research note on Wednesday, April 6th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $124.17.

RGA stock opened at $123.47 on Friday. Reinsurance Group of America has a twelve month low of $94.32 and a twelve month high of $128.93. The company has a market cap of $8.27 billion, a P/E ratio of 20.34 and a beta of 1.10. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.40. The business’s fifty day moving average is $113.06 and its 200-day moving average is $110.31.

Reinsurance Group of America (NYSE:RGAGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The insurance provider reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.61) by $1.08. Reinsurance Group of America had a return on equity of 1.59% and a net margin of 2.52%. The firm had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the previous year, the business earned ($1.24) earnings per share. The business’s revenue was down 4.6% compared to the same quarter last year. Research analysts anticipate that Reinsurance Group of America will post 9.76 earnings per share for the current fiscal year.

In other Reinsurance Group of America news, Director Christine Rose Detrick sold 4,300 shares of the business’s stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $113.34, for a total transaction of $487,362.00. Following the transaction, the director now owns 1,618 shares in the company, valued at approximately $183,384.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.55% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its holdings in Reinsurance Group of America by 5.5% in the fourth quarter. BlackRock Inc. now owns 6,383,743 shares of the insurance provider’s stock valued at $698,957,000 after buying an additional 333,803 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Reinsurance Group of America by 0.6% in the 1st quarter. American Century Companies Inc. now owns 3,625,215 shares of the insurance provider’s stock worth $396,816,000 after acquiring an additional 19,871 shares during the period. State Street Corp lifted its position in Reinsurance Group of America by 4.7% in the first quarter. State Street Corp now owns 2,411,086 shares of the insurance provider’s stock worth $263,917,000 after purchasing an additional 108,922 shares during the period. Earnest Partners LLC boosted its stake in Reinsurance Group of America by 1.5% during the first quarter. Earnest Partners LLC now owns 2,113,439 shares of the insurance provider’s stock valued at $231,337,000 after buying an additional 30,545 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its holdings in shares of Reinsurance Group of America by 2.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,904,057 shares of the insurance provider’s stock valued at $208,511,000 after buying an additional 52,265 shares in the last quarter. Institutional investors and hedge funds own 96.37% of the company’s stock.

Reinsurance Group of America Company Profile (Get Rating)

Reinsurance Group of America, Incorporated engages in reinsurance business. It offers individual and group life and health insurance products, such as term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products; asset-intensive and financial reinsurance products; and other capital motivated solutions.

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