Reinsurance Group of America (NYSE:RGA) Price Target Cut to $233.00 by Analysts at Morgan Stanley

Reinsurance Group of America (NYSE:RGA) had its price target dropped by Morgan Stanley from $245.00 to $233.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the insurance provider’s stock. Morgan Stanley’s price objective suggests a potential upside of 13.96% from the company’s current price.

RGA has been the subject of several other research reports. StockNews.com raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Royal Bank of Canada reissued an “outperform” rating and set a $245.00 price target on shares of Reinsurance Group of America in a research report on Monday. Barclays reduced their price target 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. JPMorgan Chase & Co. raised their price target 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. Finally, Piper Sandler cut their target price 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. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Reinsurance Group of America has a consensus rating of “Moderate Buy” and an average price target of $228.08.

Reinsurance Group of America Trading Down 0.0 %

Shares of Reinsurance Group of America stock traded down $0.04 during trading on Friday, reaching $204.47. 68,348 shares of the stock were exchanged, compared to its average volume of 508,411. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.45. Reinsurance Group of America has a 1 year low of $167.80 and a 1 year high of $233.81. The stock’s fifty day moving average is $216.81 and its 200 day moving average is $216.89. The firm has a market cap of $13.47 billion, a price-to-earnings ratio of 18.99 and a beta of 0.93.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, February 6th. The insurance provider reported $4.99 EPS for the quarter, missing the consensus estimate of $5.22 by ($0.23). Reinsurance Group of America had a return on equity of 14.80% and a net margin of 3.24%. As a group, equities research analysts expect that Reinsurance Group of America will post 23.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Reinsurance Group of America

Hedge funds have recently added to or reduced their stakes in the stock. Private Trust Co. NA lifted its position in shares of Reinsurance Group of America by 333.3% in the 3rd quarter. Private Trust Co. NA now owns 156 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 120 shares during the period. Wolff Wiese Magana LLC purchased a new stake in Reinsurance Group of America during the third quarter valued at approximately $34,000. Strengthening Families & Communities LLC purchased a new stake in Reinsurance Group of America during the third quarter valued at approximately $36,000. Capital Performance Advisors LLP purchased a new stake in Reinsurance Group of America during the third quarter valued at approximately $37,000. Finally, Spire Wealth Management lifted its position in Reinsurance Group of America by 39.0% during the fourth quarter. Spire Wealth Management now owns 203 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 57 shares during the last quarter. 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.