Reinsurance Group of America (NYSE:RGA) Raised to Buy at Citigroup

Reinsurance Group of America (NYSE:RGA – Get Rating) was upgraded by Citigroup from a “sell” rating to a “buy” rating in a research note issued on Wednesday, MarketBeat Ratings reports. The firm presently has a $158.00 price target on the insurance provider’s stock, up from their prior price target of $133.00. Citigroup’s price objective would indicate a potential upside of 22.78% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on RGA. Royal Bank of Canada upgraded Reinsurance Group of America from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $145.00 to $170.00 in a research note on Tuesday, December 6th. Morgan Stanley upped their price objective on Reinsurance Group of America from $145.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 10th. StockNews.com raised Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Friday, March 10th. The Goldman Sachs Group upped their target price on Reinsurance Group of America from $147.00 to $162.00 and gave the company a “buy” rating in a research report on Monday, January 9th. Finally, JPMorgan Chase & Co. upped their target price on Reinsurance Group of America from $136.00 to $141.00 and gave the company a “neutral” rating in a research report on Friday, January 6th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $155.56.

Reinsurance Group of America Price Performance

Shares of RGA stock opened at $128.69 on Wednesday. Reinsurance Group of America has a twelve month low of $100.88 and a twelve month high of $153.35. The stock has a market capitalization of $8.60 billion, a price-to-earnings ratio of 13.99 and a beta of 0.92. The stock has a fifty day simple moving average of $144.60 and a two-hundred day simple moving average of $139.21. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.94.

Reinsurance Group of America (NYSE:RGA – Get Rating) last issued its quarterly earnings data on Friday, February 3rd. The insurance provider reported $2.99 earnings per share for the quarter, missing analysts’ consensus estimates of $3.51 by ($0.52). The company had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.33 billion. Reinsurance Group of America had a return on equity of 16.86% and a net margin of 3.83%. The company’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.56) earnings per share. On average, analysts predict that Reinsurance Group of America will post 15.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Natixis acquired a new position in shares of Reinsurance Group of America in the fourth quarter valued at about $5,399,000. Triasima Portfolio Management inc. purchased a new stake in shares of Reinsurance Group of America in the fourth quarter worth about $1,986,000. Truist Financial Corp boosted its stake in shares of Reinsurance Group of America by 8.2% in the fourth quarter. Truist Financial Corp now owns 16,281 shares of the insurance provider’s stock worth $2,313,000 after buying an additional 1,231 shares during the last quarter. American Trust boosted its stake in shares of Reinsurance Group of America by 15.6% in the fourth quarter. American Trust now owns 2,908 shares of the insurance provider’s stock worth $413,000 after buying an additional 392 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC boosted its stake in shares of Reinsurance Group of America by 29.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 12,117 shares of the insurance provider’s stock worth $1,722,000 after buying an additional 2,746 shares during the last quarter. 96.46% of the stock is owned by institutional investors and hedge funds.

About Reinsurance Group of America

(Get Rating)

Reinsurance Group of America, Inc is a holding company, which engages in the provision of traditional and non-traditional life and health reinsurance products. It operates through the following segments: U.S. and Latin America, Canada, Europe, Middle East, and Africa, Asia Pacific, and Corporate and Other.