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 equities researchers at Wells Fargo & Company from $244.00 to $263.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 30.84% from the company’s previous close.

Several other analysts have also recently commented on RGA. Piper Sandler reduced their target price on Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. JPMorgan Chase & Co. increased their price target on Reinsurance Group of America from $227.00 to $232.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Barclays cut their price target on Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and set a $245.00 price target on shares of Reinsurance Group of America in a report on Monday, February 10th. Finally, Morgan Stanley cut their price target on Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Reinsurance Group of America has an average rating of “Moderate Buy” and an average target price of $229.54.

Reinsurance Group of America Stock Performance

Shares of RGA stock opened at $201.01 on Wednesday. The business’s 50 day simple moving average is $216.09 and its 200 day simple moving average is $216.45. Reinsurance Group of America has a one year low of $167.80 and a one year high of $233.81. The stock has a market capitalization of $13.24 billion, a PE ratio of 18.72 and a beta of 0.93. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.15 and a quick ratio of 0.17.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results 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 net margin of 3.24% and a return on equity of 14.55%. As a group, research analysts forecast that Reinsurance Group of America will post 22.88 earnings per share for the current year.

Institutional Trading of Reinsurance Group of America

Large investors have recently added to or reduced their stakes in the stock. Colonial Trust Co SC increased its holdings in Reinsurance Group of America by 72.2% during the fourth quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider’s stock worth $29,000 after buying an additional 57 shares during the last quarter. Private Trust Co. NA increased its holdings in Reinsurance Group of America by 333.3% during the third quarter. Private Trust Co. NA now owns 156 shares of the insurance provider’s stock worth $34,000 after buying an additional 120 shares during the last quarter. Strengthening Families & Communities LLC purchased a new stake in Reinsurance Group of America during the third quarter worth about $36,000. Capital Performance Advisors LLP purchased a new stake in Reinsurance Group of America during the third quarter worth about $37,000. Finally, Spire Wealth Management increased its holdings 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 worth $43,000 after buying an additional 57 shares during 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.