Reinsurance Group of America (NYSE:RGA) Price Target Raised to $144.00 at Morgan Stanley

Reinsurance Group of America (NYSE:RGA) had its target price upped by Morgan Stanley from $142.00 to $144.00 in a research report report published on Wednesday, Stock Target Advisor reports. They currently have an underweight rating on the insurance provider’s stock.

A number of other analysts also recently commented on RGA. ValuEngine upgraded shares of Zynerba Pharmaceuticals from a hold rating to a buy rating in a research report on Friday, May 17th. Zacks Investment Research upgraded shares of IMI PLC/S from a sell rating to a hold rating in a research report on Wednesday, April 3rd. Finally, UBS Group boosted their price target on shares of Verisk Analytics from $106.00 to $111.00 and gave the stock a sell rating in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Reinsurance Group of America presently has an average rating of Hold and an average price target of $143.83.

Reinsurance Group of America stock opened at $159.80 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.12 and a quick ratio of 0.12. The firm’s 50-day moving average price is $153.07. The firm has a market cap of $9.88 billion, a price-to-earnings ratio of 13.18 and a beta of 0.66. Reinsurance Group of America has a 52-week low of $127.84 and a 52-week high of $160.06.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results on Monday, April 29th. The insurance provider reported $2.61 EPS for the quarter, missing analysts’ consensus estimates of $2.63 by ($0.02). Reinsurance Group of America had a return on equity of 9.64% and a net margin of 5.98%. The company had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.34 billion. During the same quarter last year, the firm posted $1.61 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. Research analysts anticipate that Reinsurance Group of America will post 13.12 earnings per share for the current year.

In related news, EVP Alain Neemeh sold 3,668 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $148.00, for a total value of $542,864.00. Following the sale, the executive vice president now directly owns 37,492 shares in the company, valued at approximately $5,548,816. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John P. Laughlin, Jr. sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $156.81, for a total transaction of $470,430.00. Following the completion of the sale, the executive vice president now owns 35,097 shares in the company, valued at $5,503,560.57. The disclosure for this sale can be found here. 0.78% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RGA. Norges Bank bought a new stake in shares of Reinsurance Group of America in the 4th quarter worth approximately $78,120,000. BlackRock Inc. raised its holdings in shares of Reinsurance Group of America by 2.1% in the 1st quarter. BlackRock Inc. now owns 6,081,678 shares of the insurance provider’s stock worth $863,478,000 after purchasing an additional 125,888 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Reinsurance Group of America by 499.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 115,981 shares of the insurance provider’s stock worth $16,467,000 after purchasing an additional 96,638 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Reinsurance Group of America by 68.6% in the 1st quarter. Acadian Asset Management LLC now owns 204,239 shares of the insurance provider’s stock worth $29,000,000 after purchasing an additional 83,104 shares in the last quarter. Finally, Hancock Whitney Corp raised its holdings in shares of Reinsurance Group of America by 364.1% in the 4th quarter. Hancock Whitney Corp now owns 83,564 shares of the insurance provider’s stock worth $11,719,000 after purchasing an additional 65,560 shares in the last quarter. Institutional investors and hedge funds own 91.95% of the company’s stock.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated engages in reinsurance business. It offers individual and group life and health insurance products, including term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products, as well as asset-intensive and financial reinsurance products.

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

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