Reinsurance Group of America (NYSE:RGA) PT Raised to $242.00 at Piper Sandler

by · The Cerbat Gem

Reinsurance Group of America (NYSE:RGA – Get Free Report) had its price target lifted by equities researchers at Piper Sandler from $237.00 to $242.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the insurance provider’s stock. Piper Sandler’s price target would suggest a potential upside of 12.74% from the stock’s current price.

RGA has been the subject of several other reports. Barclays started coverage on shares of Reinsurance Group of America in a research note on Wednesday, September 4th. They set an “overweight” rating and a $255.00 price objective for the company. Evercore ISI boosted their price objective on shares of Reinsurance Group of America from $225.00 to $241.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 26th. Jefferies Financial Group boosted their price objective on shares of Reinsurance Group of America from $63.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Royal Bank of Canada boosted their price objective on shares of Reinsurance Group of America from $225.00 to $235.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Finally, Citigroup upped their target price on shares of Reinsurance Group of America from $194.00 to $252.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $225.92.

Read Our Latest Stock Report on Reinsurance Group of America

Reinsurance Group of America Stock Performance

Shares of RGA stock opened at $214.65 on Wednesday. Reinsurance Group of America has a one year low of $140.39 and a one year high of $227.87. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.17 and a current ratio of 0.17. The company has a 50 day moving average price of $213.24 and a 200 day moving average price of $205.37. The firm has a market capitalization of $14.12 billion, a price-to-earnings ratio of 16.68 and a beta of 0.91.

Reinsurance Group of America (NYSE:RGA – Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.94 by $0.54. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The company had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $5.07 billion. During the same period in the previous year, the firm earned $4.40 earnings per share. Reinsurance Group of America’s revenue for the quarter was up 17.4% on a year-over-year basis. Sell-side analysts anticipate that Reinsurance Group of America will post 21.7 EPS for the current year.

Insider Activity at Reinsurance Group of America

In related news, EVP William L. Hutton sold 1,209 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $218.97, for a total value of $264,734.73. Following the sale, the executive vice president now directly owns 12,357 shares of the company’s stock, valued at $2,705,812.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.37% of the stock is currently owned by corporate insiders.

Institutional Trading of Reinsurance Group of America

Institutional investors and hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC acquired a new stake in shares of Reinsurance Group of America in the 2nd quarter worth about $28,000. Family Firm Inc. acquired a new stake in shares of Reinsurance Group of America in the 2nd quarter worth about $29,000. New Covenant Trust Company N.A. acquired a new stake in shares of Reinsurance Group of America in the 1st quarter worth about $28,000. Rise Advisors LLC acquired a new stake in shares of Reinsurance Group of America in the 1st quarter worth about $29,000. Finally, LRI Investments LLC acquired a new stake in shares of Reinsurance Group of America in the 1st quarter worth about $33,000. 95.11% of the stock is owned by institutional investors and hedge funds.

Reinsurance Group of America Company Profile

(Get Free Report)

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.

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