Morgan Stanley Boosts Reinsurance Group of America (NYSE:RGA) Price Target to $170.00

Reinsurance Group of America (NYSE:RGA) had its target price upped by Morgan Stanley from $164.00 to $170.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the insurance provider’s stock. Morgan Stanley’s price objective would indicate a potential upside of 7.66% from the stock’s previous close.

Several other equities analysts also recently commented on the stock. Jefferies Financial Group decreased their price objective on shares of Reinsurance Group of America from $160.00 to $159.00 and set a “hold” rating on the stock in a report on Thursday, September 14th. Wells Fargo & Company increased their price objective on Reinsurance Group of America from $168.00 to $169.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 15th. StockNews.com raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Tuesday, November 7th. Citigroup decreased their price target on shares of Reinsurance Group of America from $170.00 to $162.00 and set a “buy” rating on the stock in a research note on Wednesday, August 9th. Finally, JPMorgan Chase & Co. increased their target price on shares of Reinsurance Group of America from $168.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, October 6th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.91.

Reinsurance Group of America Stock Performance

Reinsurance Group of America stock traded down $0.90 during midday trading on Wednesday, reaching $157.91. 43,750 shares of the company’s stock were exchanged, compared to its average volume of 395,618. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.14 and a current ratio of 0.14. The stock’s 50-day simple moving average is $147.75 and its 200 day simple moving average is $144.09. The firm has a market cap of $10.41 billion, a price-to-earnings ratio of 11.23 and a beta of 0.86. Reinsurance Group of America has a 52 week low of $120.99 and a 52 week high of $163.62.

Insiders Place Their Bets

In other news, EVP Ronald Herrmann sold 510 shares of Reinsurance Group of America stock in a transaction on Friday, November 10th. The shares were sold at an average price of $161.05, for a total transaction of $82,135.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.55% of the company’s stock.

Hedge Funds Weigh In On Reinsurance Group of America

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. CIBC Asset Management Inc lifted its stake in shares of Reinsurance Group of America by 3.3% in the 1st quarter. CIBC Asset Management Inc now owns 2,183 shares of the insurance provider’s stock valued at $290,000 after purchasing an additional 70 shares during the period. Simplicity Solutions LLC increased its holdings in Reinsurance Group of America by 3.7% in the second quarter. Simplicity Solutions LLC now owns 2,023 shares of the insurance provider’s stock worth $281,000 after purchasing an additional 72 shares in the last quarter. Snowden Capital Advisors LLC lifted its stake in Reinsurance Group of America by 1.4% in the second quarter. Snowden Capital Advisors LLC now owns 5,614 shares of the insurance provider’s stock valued at $779,000 after buying an additional 75 shares during the period. Aspire Private Capital LLC boosted its holdings in shares of Reinsurance Group of America by 3.7% during the 2nd quarter. Aspire Private Capital LLC now owns 2,143 shares of the insurance provider’s stock worth $297,000 after buying an additional 76 shares in the last quarter. Finally, Integrated Investment Consultants LLC grew its position in shares of Reinsurance Group of America by 2.0% during the 3rd quarter. Integrated Investment Consultants LLC now owns 3,830 shares of the insurance provider’s stock worth $556,000 after buying an additional 76 shares during the period. 93.78% of the stock is owned by institutional investors and hedge funds.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated engages in reinsurance business. The company 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.