Reinsurance Group of America (NYSE:RGA) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Reinsurance Group of America (NYSE:RGA) had its target price increased by equities researchers at JPMorgan Chase & Co. from $227.00 to $232.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 4.68% from the company’s current price.

Several other equities research analysts have also issued reports on RGA. StockNews.com raised Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. TD Cowen began coverage on Reinsurance Group of America in a research note on Wednesday, October 9th. They issued a “hold” rating and a $235.00 target price on the stock. Royal Bank of Canada upped their price target on shares of Reinsurance Group of America from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Keefe, Bruyette & Woods upgraded shares of Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, October 3rd. Finally, Barclays dropped their price target on shares of Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating on the stock in a research note on Monday. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Reinsurance Group of America currently has an average rating of “Moderate Buy” and an average price target of $228.31.

Reinsurance Group of America Stock Up 1.4 %

RGA stock traded up $2.96 during midday trading on Tuesday, hitting $221.63. 174,969 shares of the company’s stock were exchanged, compared to its average volume of 424,294. The firm has a 50 day moving average price of $219.09 and a 200-day moving average price of $215.01. Reinsurance Group of America has a 12-month low of $163.81 and a 12-month high of $233.81. The stock has a market capitalization of $14.60 billion, a price-to-earnings ratio of 20.35 and a beta of 0.94. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.45.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.31 by $0.82. The firm had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.29 billion. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the company posted $5.57 earnings per share. On average, analysts anticipate that Reinsurance Group of America will post 21.67 EPS for the current year.

Institutional Investors Weigh In On Reinsurance Group of America

Hedge funds have recently made changes to their positions in the company. Insight Wealth Strategies LLC raised its stake in Reinsurance Group of America by 23.8% during the 4th quarter. Insight Wealth Strategies LLC now owns 20,158 shares of the insurance provider’s stock valued at $4,306,000 after purchasing an additional 3,873 shares during the period. Nordea Investment Management AB raised its position in Reinsurance Group of America by 4.8% during the fourth quarter. Nordea Investment Management AB now owns 89,837 shares of the insurance provider’s stock valued at $19,232,000 after buying an additional 4,119 shares during the period. Everence Capital Management Inc. acquired a new position in Reinsurance Group of America during the fourth quarter valued at $391,000. GAMMA Investing LLC boosted its position in Reinsurance Group of America by 41.7% during the 4th quarter. GAMMA Investing LLC now owns 863 shares of the insurance provider’s stock worth $184,000 after acquiring an additional 254 shares during the period. Finally, Versant Capital Management Inc grew its stake in Reinsurance Group of America by 38.1% during the 4th quarter. Versant Capital Management Inc now owns 290 shares of the insurance provider’s stock valued at $62,000 after acquiring an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 95.11% of the company’s stock.

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.