Reinsurance Group of America (NYSE:RGA) PT Raised to $185.00 at Morgan Stanley

Reinsurance Group of America (NYSE:RGA) had its price target increased by analysts at Morgan Stanley from $178.00 to $185.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the insurance provider’s stock. Morgan Stanley’s target price would indicate a potential upside of 2.42% from the company’s current price.

A number of other analysts have also commented on RGA. JPMorgan Chase & Co. boosted their target price on Reinsurance Group of America from $170.00 to $189.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. Piper Sandler increased their target price on Reinsurance Group of America from $195.00 to $220.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. UBS Group increased their target price on Reinsurance Group of America from $198.00 to $223.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Keefe, Bruyette & Woods increased their target price on shares of Reinsurance Group of America from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $212.00 price objective on shares of Reinsurance Group of America in a report on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Reinsurance Group of America has an average rating of “Moderate Buy” and a consensus price target of $194.38.

Reinsurance Group of America Stock Performance

RGA opened at $180.62 on Monday. The stock has a market cap of $11.88 billion, a price-to-earnings ratio of 13.45 and a beta of 0.89. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.48. Reinsurance Group of America has a 12-month low of $133.13 and a 12-month high of $196.25. The business has a 50 day moving average of $181.44 and a 200-day moving average of $167.14.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Friday, February 2nd. The insurance provider reported $4.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.40 by $0.33. Reinsurance Group of America had a return on equity of 16.20% and a net margin of 4.86%. The company had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same quarter last year, the company posted $2.99 EPS. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. On average, equities research analysts expect that Reinsurance Group of America will post 19.46 earnings per share for the current year.

Insider Activity

In related news, CFO Todd C. Larson sold 2,966 shares of Reinsurance Group of America stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $182.88, for a total value of $542,422.08. Following the completion of the sale, the chief financial officer now owns 49,549 shares in the company, valued at $9,061,521.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP William L. Hutton sold 1,588 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $171.83, for a total transaction of $272,866.04. Following the transaction, the executive vice president now owns 13,625 shares of the company’s stock, valued at approximately $2,341,183.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Todd C. Larson sold 2,966 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $182.88, for a total value of $542,422.08. Following the transaction, the chief financial officer now directly owns 49,549 shares in the company, valued at approximately $9,061,521.12. The disclosure for this sale can be found here. In the last three months, insiders sold 6,462 shares of company stock worth $1,162,239. 1.55% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Reinsurance Group of America

Several hedge funds and other institutional investors have recently modified their holdings of RGA. Moneta Group Investment Advisors LLC increased its stake in shares of Reinsurance Group of America by 129,207.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 12,117,433 shares of the insurance provider’s stock valued at $1,721,766,000 after buying an additional 12,108,062 shares during the period. Norges Bank bought a new stake in Reinsurance Group of America during the fourth quarter worth about $122,301,000. Junto Capital Management LP acquired a new position in Reinsurance Group of America during the fourth quarter worth approximately $92,083,000. Morgan Stanley grew its position in shares of Reinsurance Group of America by 121.0% in the fourth quarter. Morgan Stanley now owns 930,151 shares of the insurance provider’s stock valued at $132,165,000 after purchasing an additional 509,220 shares during the last quarter. Finally, Alliancebernstein L.P. grew its position in Reinsurance Group of America by 446.0% during the third quarter. Alliancebernstein L.P. now owns 581,096 shares of the insurance provider’s stock worth $73,108,000 after buying an additional 474,672 shares in the last quarter. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Company Profile

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.