JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Reinsurance Group of America (NYSE:RGA) Stock

Reinsurance Group of America (NYSE:RGA) had its target price boosted by analysts at JPMorgan Chase & Co. from $270.00 to $286.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 21.57% from the stock’s current price.

A number of other brokerages have also issued reports on RGA. Piper Sandler reduced their price target on Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. Wells Fargo & Company raised their price target on Reinsurance Group of America from $261.00 to $269.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Evercore restated an “outperform” rating and set a $267.00 price objective on shares of Reinsurance Group of America in a research note on Monday, May 18th. Wall Street Zen raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, UBS Group increased their target price on shares of Reinsurance Group of America from $220.00 to $236.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Seven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Reinsurance Group of America has an average rating of “Moderate Buy” and a consensus price target of $255.00.

Reinsurance Group of America Stock Performance

RGA opened at $235.26 on Tuesday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average is $215.73 and its 200-day moving average is $210.40. The stock has a market cap of $15.41 billion, a PE ratio of 12.74 and a beta of 0.47. Reinsurance Group of America has a twelve month low of $165.52 and a twelve month high of $245.00.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, May 7th. The insurance provider reported $6.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.03 by $0.94. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.47 billion. During the same period in the prior year, the company posted $5.66 EPS. The business’s revenue for the quarter was up 23.5% compared to the same quarter last year. On average, analysts predict that Reinsurance Group of America will post 26.86 earnings per share for the current year.

Insiders Place Their Bets

In other Reinsurance Group of America news, EVP Ronald Herrmann sold 7,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $210.58, for a total transaction of $1,474,060.00. Following the sale, the executive vice president owned 3,938 shares in the company, valued at approximately $829,264.04. The trade was a 64.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John W. Hayden sold 414 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $214.95, for a total transaction of $88,989.30. Following the sale, the executive vice president directly owned 20,949 shares of the company’s stock, valued at $4,502,987.55. This represents a 1.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RGA. Activest Wealth Management purchased a new stake in shares of Reinsurance Group of America in the 4th quarter valued at approximately $30,000. Tobam grew its position in Reinsurance Group of America by 244.7% during the 4th quarter. Tobam now owns 162 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 115 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Reinsurance Group of America during the 4th quarter worth approximately $35,000. Advisory Services Network LLC acquired a new stake in Reinsurance Group of America during the 3rd quarter valued at $38,000. Finally, Entrust Financial LLC acquired a new stake in Reinsurance Group of America during the 4th quarter valued at $40,000. 95.11% of the stock is owned by hedge funds and other institutional investors.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.