StockNews.com Upgrades Reinsurance Group of America (NYSE:RGA) to “Buy”

Reinsurance Group of America (NYSE:RGA) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Friday.

RGA has been the subject of a number of other reports. Barclays began coverage on Reinsurance Group of America in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $255.00 price target for the company. Piper Sandler boosted their target price on shares of Reinsurance Group of America from $228.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, June 28th. Royal Bank of Canada increased their price target on shares of Reinsurance Group of America from $225.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. UBS Group boosted their price objective on shares of Reinsurance Group of America from $223.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Finally, Evercore ISI raised their target price on shares of Reinsurance Group of America from $225.00 to $241.00 and gave the company an “outperform” rating in a research note on Wednesday, June 26th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $225.17.

Reinsurance Group of America Stock Performance

Shares of RGA stock opened at $215.61 on Friday. Reinsurance Group of America has a 12 month low of $140.39 and a 12 month high of $227.87. The company’s fifty day simple moving average is $213.38 and its 200-day simple moving average is $204.48. The firm has a market cap of $14.20 billion, a PE ratio of 16.75 and a beta of 0.91. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.52.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, topping the consensus estimate of $4.94 by $0.54. The firm had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $5.07 billion. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period in the previous year, the firm posted $4.40 EPS. Equities research analysts expect that Reinsurance Group of America will post 21.7 EPS for the current fiscal year.

Insider Buying and Selling

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the company’s 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 directly owns 12,357 shares of the company’s stock, valued at approximately $2,705,812.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.37% of the stock is currently owned by insiders.

Institutional Trading of Reinsurance Group of America

A number of institutional investors have recently bought and sold shares of RGA. Meeder Asset Management Inc. bought a new stake in shares of Reinsurance Group of America in the first quarter valued at approximately $675,000. Price T Rowe Associates Inc. MD lifted its position in shares of Reinsurance Group of America by 22.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 143,178 shares of the insurance provider’s stock valued at $27,617,000 after acquiring an additional 26,306 shares during the period. Junto Capital Management LP acquired a new stake in shares of Reinsurance Group of America during the 4th quarter worth $92,083,000. Mitsubishi UFJ Trust & Banking Corp increased its position 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 worth $1,459,000 after purchasing an additional 2,524 shares during the period. Finally, Dean Capital Management raised its stake in Reinsurance Group of America by 19.4% in the fourth quarter. Dean Capital Management now owns 10,086 shares of the insurance provider’s stock valued at $1,632,000 after purchasing an additional 1,636 shares in the last quarter. Institutional investors own 95.11% of the company’s stock.

About Reinsurance Group of America

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.