Reinsurance Group of America (NYSE:RGA) Given New $250.00 Price Target at TD Cowen

Reinsurance Group of America (NYSE:RGA) had its price target increased by analysts at TD Cowen from $235.00 to $250.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “hold” rating on the insurance provider’s stock. TD Cowen’s target price suggests a potential downside of 6.62% from the company’s current price.

A number of other analysts have also recently commented on the stock. UBS Group raised shares of Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. Barclays set a $292.00 price target on shares of Reinsurance Group of America in a research note on Thursday, October 8th. JPMorgan Chase & Co. lifted their price objective on Reinsurance Group of America from $293.00 to $297.00 and gave the stock an “overweight” rating in a report on Thursday, October 15th. Morgan Stanley upgraded Reinsurance Group of America from an “equal weight” rating to an “overweight” rating and set a $295.00 price objective for the company in a research note on Monday, September 28th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Reinsurance Group of America in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Reinsurance Group of America has a consensus rating of “Buy” and an average price target of $270.00.

Reinsurance Group of America Trading Up 0.1%

Shares of NYSE:RGA opened at $267.71 on Wednesday. Reinsurance Group of America has a 1 year low of $178.21 and a 1 year high of $270.32. The firm has a market capitalization of $17.48 billion, a price-to-earnings ratio of 11.79 and a beta of 0.45. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.14 and a quick ratio of 0.14. The business’s 50 day moving average price is $250.25 and its 200-day moving average price is $228.91.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, August 6th. The insurance provider reported $8.89 EPS for the quarter, topping the consensus estimate of $6.50 by $2.39. The company had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.67 billion. Reinsurance Group of America had a net margin of 5.81% and a return on equity of 14.78%. The firm’s revenue was up 18.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.72 EPS. On average, equities research analysts forecast that Reinsurance Group of America will post 29.75 earnings per share for the current fiscal year.

Insider Activity at Reinsurance Group of America

In other news, EVP Jonathan Porter sold 8,589 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $246.30, for a total value of $2,115,470.70. Following the transaction, the executive vice president directly owned 14,885 shares of the company’s stock, valued at approximately $3,666,175.50. This trade represents a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.60% of the stock is owned by company insiders.

Institutional Trading of Reinsurance Group of America

Several large investors have recently bought and sold shares of RGA. Whipplewood Advisors LLC lifted its stake in Reinsurance Group of America by 4,400.0% in the 1st quarter. Whipplewood Advisors LLC now owns 225 shares of the insurance provider’s stock worth $46,000 after purchasing an additional 220 shares in the last quarter. Millstone Evans Group LLC grew its position in shares of Reinsurance Group of America by 77.0% in the first quarter. Millstone Evans Group LLC now owns 239 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 104 shares in the last quarter. Fortitude Family Office LLC grew its position in shares of Reinsurance Group of America by 62.7% in the third quarter. Fortitude Family Office LLC now owns 249 shares of the insurance provider’s stock valued at $61,000 after purchasing an additional 96 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA acquired a new stake in shares of Reinsurance Group of America in the second quarter valued at approximately $53,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Reinsurance Group of America in the fourth quarter valued at approximately $53,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated (NYSE:RGA) is a global provider of life and health reinsurance. The company works with insurance carriers to help them manage mortality, longevity, morbidity and other insurance risks, while supporting the development and distribution of life and health insurance products.

RGA’s offerings include traditional life reinsurance, including term, whole life and universal life coverage, as well as health reinsurance and financial solutions. Its financial solutions business provides capital management, asset-intensive reinsurance, longevity and other risk-management arrangements designed to help insurers manage their balance sheets and meet changing customer and regulatory needs.

Founded in 1973 as part of General American Life Insurance Company, RGA became an independent public company in 1993.