Reinsurance Group of America (NYSE:RGA - Get Free Report) had its price target raised by research analysts at Royal Bank of Canada from $235.00 to $245.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an "outperform" rating on the insurance provider's stock. Royal Bank of Canada's price target points to a potential upside of 14.82% from the stock's current price.
Other research analysts also recently issued research reports about the company. StockNews.com raised Reinsurance Group of America from a "hold" rating to a "buy" rating in a research note on Thursday, October 17th. Citigroup increased their price objective 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. Piper Sandler increased their price target on Reinsurance Group of America from $237.00 to $242.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 2nd. Barclays lowered their target price on shares of Reinsurance Group of America from $255.00 to $250.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 8th. Finally, TD Cowen began coverage on shares of Reinsurance Group of America in a research report on Wednesday, October 9th. They set a "hold" rating and a $235.00 price objective on the stock. Three 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. Based on data from MarketBeat, Reinsurance Group of America presently has an average rating of "Moderate Buy" and an average target price of $227.38.
View Our Latest Stock Report on Reinsurance Group of America
Shares of RGA traded down $1.72 during trading hours on Monday, hitting $213.38. The stock had a trading volume of 132,057 shares, compared to its average volume of 355,781. The stock has a market capitalization of $14.05 billion, a price-to-earnings ratio of 19.59 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.17 and a quick ratio of 0.17. Reinsurance Group of America has a 52 week low of $151.90 and a 52 week high of $227.87. The company's fifty day moving average is $215.72 and its two-hundred day moving average is $209.43.
Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The insurance provider reported $6.13 EPS for the quarter, topping the consensus estimate of $5.31 by $0.82. Reinsurance Group of America had a return on equity of 15.68% and a net margin of 3.32%. The business had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.29 billion. During the same quarter last year, the business posted $5.57 EPS. The firm's revenue was up 9.7% compared to the same quarter last year. On average, analysts anticipate that Reinsurance Group of America will post 21.8 EPS for the current year.
In related news, EVP William L. Hutton sold 1,209 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total value of $264,734.73. Following the transaction, the executive vice president now owns 12,357 shares of the company's stock, valued at $2,705,812.29. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.37% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. acquired a new stake in Reinsurance Group of America during the first quarter worth approximately $675,000. Price T Rowe Associates Inc. MD grew its position in Reinsurance Group of America by 22.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 143,178 shares of the insurance provider's stock worth $27,617,000 after purchasing an additional 26,306 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Reinsurance Group of America by 50.9% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 7,486 shares of the insurance provider's stock valued at $1,459,000 after acquiring an additional 2,524 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Reinsurance Group of America by 5.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 67,400 shares of the insurance provider's stock valued at $13,000,000 after purchasing an additional 3,247 shares during the last quarter. Finally, M&G Plc lifted its position in shares of Reinsurance Group of America by 5.0% in the 2nd quarter. M&G Plc now owns 85,153 shares of the insurance provider's stock valued at $17,456,000 after acquiring an additional 4,025 shares in the last quarter. 95.11% of the stock is owned by hedge funds and other institutional investors.
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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