Reinsurance Group of America (NYSE:RGA) Given New $130.00 Price Target at Morgan Stanley

Reinsurance Group of America (NYSE:RGA) had its price target increased by research analysts at Morgan Stanley from $127.00 to $130.00 in a research note issued on Thursday, Analyst Price Targets reports. The firm currently has an “underweight” rating on the insurance provider’s stock. Morgan Stanley’s price objective suggests a potential upside of 7.53% from the stock’s current price.

A number of other equities analysts have also recently issued reports on RGA. Keefe, Bruyette & Woods upgraded Reinsurance Group of America from a “market perform” rating to an “outperform” rating and set a $142.00 target price on the stock in a report on Tuesday. JPMorgan Chase & Co. upgraded Reinsurance Group of America from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $137.00 to $138.00 in a report on Monday, July 12th. lowered their price target on Reinsurance Group of America from $146.00 to $142.00 and set a “buy” rating on the stock in a report on Monday, June 21st. Finally, Zacks Investment Research upgraded Reinsurance Group of America from a “sell” rating to a “hold” rating and set a $117.00 price target on the stock in a report on Wednesday, August 4th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Reinsurance Group of America presently has a consensus rating of “Hold” and an average price target of $127.78.

Shares of NYSE RGA traded up $2.39 during mid-day trading on Thursday, reaching $120.90. The company had a trading volume of 1,719 shares, compared to its average volume of 436,888. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.24. The stock has a market cap of $8.22 billion, a PE ratio of 9.95 and a beta of 1.23. The company has a 50-day moving average price of $115.95 and a two-hundred day moving average price of $119.96. Reinsurance Group of America has a 1-year low of $93.00 and a 1-year high of $134.93.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Monday, August 2nd. The insurance provider reported $4.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.35 by $1.65. The business had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $3.67 billion. Reinsurance Group of America had a return on equity of 3.84% and a net margin of 5.16%. On average, research analysts expect that Reinsurance Group of America will post 9.48 EPS for the current year.

In other Reinsurance Group of America news, Director Christine Rose Detrick sold 3,000 shares of the business’s stock in a transaction dated Friday, August 6th. The stock was sold at an average price of $121.70, for a total value of $365,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.98% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in RGA. FMR LLC lifted its position in shares of Reinsurance Group of America by 22.0% in the second quarter. FMR LLC now owns 5,573,964 shares of the insurance provider’s stock worth $635,433,000 after buying an additional 1,005,552 shares during the last quarter. American Century Companies Inc. grew its holdings in Reinsurance Group of America by 9.5% in the 2nd quarter. American Century Companies Inc. now owns 2,954,706 shares of the insurance provider’s stock valued at $336,836,000 after buying an additional 256,473 shares during the last quarter. Macquarie Group Ltd. increased its position in Reinsurance Group of America by 95.1% in the 2nd quarter. Macquarie Group Ltd. now owns 501,382 shares of the insurance provider’s stock worth $57,158,000 after buying an additional 244,393 shares during the period. Prana Capital Management LP acquired a new position in shares of Reinsurance Group of America during the first quarter worth approximately $30,767,000. Finally, Schonfeld Strategic Advisors LLC boosted its position in shares of Reinsurance Group of America by 163.6% in the second quarter. Schonfeld Strategic Advisors LLC now owns 313,900 shares of the insurance provider’s stock valued at $35,785,000 after acquiring an additional 194,800 shares during the period. 93.22% of the stock is owned by institutional investors.

About Reinsurance Group of America

Reinsurance Group of America, Inc is a holding company, which engages in the provision of traditional and non-traditional life and health reinsurance products. It operates through the following segments: U.S. and Latin America; Canada; Europe, Middle East, and Africa; Asia Pacific; and Corporate and Other.

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Analyst Recommendations for Reinsurance Group of America (NYSE:RGA)

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