Reinsurance Group of America (NYSE:RGA) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Reinsurance Group of America (NYSE:RGA) had its target price hoisted by Wells Fargo & Company from $244.00 to $263.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s target price points to a potential upside of 30.84% from the stock’s previous close.

A number of other equities analysts have also commented on the stock. Barclays cut their price objective on shares of Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Morgan Stanley cut their price objective on shares of Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. Royal Bank of Canada restated an “outperform” rating and issued a $245.00 price objective on shares of Reinsurance Group of America in a research report on Monday, February 10th. Piper Sandler cut their price objective on shares of Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Reinsurance Group of America from $227.00 to $232.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. 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. Based on data from MarketBeat.com, Reinsurance Group of America has a consensus rating of “Moderate Buy” and an average price target of $229.54.

Reinsurance Group of America Price Performance

Shares of NYSE:RGA opened at $201.01 on Wednesday. The company has a quick ratio of 0.17, a current ratio of 0.15 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $13.24 billion, a PE ratio of 18.72 and a beta of 0.93. Reinsurance Group of America has a twelve month low of $167.80 and a twelve month high of $233.81. The company has a 50-day moving average price of $216.09 and a two-hundred day moving average price of $216.45.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Thursday, February 6th. The insurance provider reported $4.99 earnings per share for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.23). Reinsurance Group of America had a return on equity of 14.55% and a net margin of 3.24%. Equities analysts forecast that Reinsurance Group of America will post 22.88 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Creative Planning increased its stake in shares of Reinsurance Group of America by 3.1% in the third quarter. Creative Planning now owns 10,370 shares of the insurance provider’s stock worth $2,259,000 after buying an additional 314 shares during the period. Raleigh Capital Management Inc. increased its stake in shares of Reinsurance Group of America by 12.9% in the third quarter. Raleigh Capital Management Inc. now owns 1,187 shares of the insurance provider’s stock worth $259,000 after buying an additional 136 shares during the period. Private Advisor Group LLC increased its stake in shares of Reinsurance Group of America by 4.2% in the third quarter. Private Advisor Group LLC now owns 4,169 shares of the insurance provider’s stock worth $908,000 after buying an additional 169 shares during the period. International Assets Investment Management LLC increased its stake in shares of Reinsurance Group of America by 23,595.6% in the third quarter. International Assets Investment Management LLC now owns 32,463 shares of the insurance provider’s stock worth $7,073,000 after buying an additional 32,326 shares during the period. Finally, Impact Partnership Wealth LLC purchased a new position in shares of Reinsurance Group of America in the third quarter worth $335,000. 95.11% of the stock is owned by hedge funds and other 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.