Reinsurance Group of America (NYSE:RGA) Given New $255.00 Price Target at Barclays

Reinsurance Group of America (NYSE:RGA) had its price objective lifted by equities research analysts at Barclays from $250.00 to $255.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the insurance provider’s stock. Barclays‘s price objective suggests a potential upside of 11.02% from the company’s current price.

Several other brokerages have also commented on RGA. Royal Bank of Canada upped their price target on Reinsurance Group of America from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Keefe, Bruyette & Woods raised shares of Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, October 3rd. Wells Fargo & Company lifted their price target on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. TD Cowen began coverage on shares of Reinsurance Group of America in a research report on Wednesday, October 9th. They issued a “hold” rating and a $235.00 price objective for the company. Finally, Piper Sandler raised their target price on shares of Reinsurance Group of America from $237.00 to $242.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $227.77.

Reinsurance Group of America Price Performance

RGA opened at $229.68 on Friday. Reinsurance Group of America has a 1 year low of $157.48 and a 1 year high of $233.14. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.17 and a current ratio of 0.17. The company’s 50 day simple moving average is $218.75 and its 200 day simple moving average is $212.65. The stock has a market capitalization of $15.13 billion, a PE ratio of 21.09 and a beta of 0.92.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share for the quarter, beating analysts’ consensus estimates of $5.31 by $0.82. The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.29 billion. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%. Reinsurance Group of America’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the business earned $5.57 EPS. As a group, sell-side analysts expect that Reinsurance Group of America will post 21.93 EPS for the current year.

Insider Buying and Selling

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total transaction of $264,734.73. Following the transaction, the executive vice president now owns 12,357 shares of the company’s stock, valued at $2,705,812.29. This trade represents a 8.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.37% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Invst LLC acquired a new position in shares of Reinsurance Group of America during the third quarter worth approximately $229,000. Coldstream Capital Management Inc. raised its stake in Reinsurance Group of America by 4.6% during the 3rd quarter. Coldstream Capital Management Inc. now owns 11,953 shares of the insurance provider’s stock valued at $2,606,000 after acquiring an additional 530 shares in the last quarter. Geode Capital Management LLC boosted its position in Reinsurance Group of America by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,109,766 shares of the insurance provider’s stock worth $241,849,000 after acquiring an additional 18,162 shares during the period. Barclays PLC grew its stake in shares of Reinsurance Group of America by 5.5% in the third quarter. Barclays PLC now owns 102,790 shares of the insurance provider’s stock worth $22,396,000 after purchasing an additional 5,398 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Reinsurance Group of America by 22.2% during the third quarter. Public Employees Retirement System of Ohio now owns 42,520 shares of the insurance provider’s stock valued at $9,264,000 after purchasing an additional 7,714 shares during the period. 95.11% of the stock is currently owned by institutional investors.

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.