Reinsurance Group of America (NYSE:RGA) Given “Outperform” Rating at Royal Bank of Canada

Reinsurance Group of America (NYSE:RGA)‘s stock had its “outperform” rating reissued by analysts at Royal Bank of Canada in a note issued to investors on Monday,Benzinga reports. They currently have a $245.00 price objective on the insurance provider’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 21.44% from the stock’s current price.

A number of other brokerages have also commented on RGA. JPMorgan Chase & Co. lifted their price target on shares of Reinsurance Group of America from $227.00 to $232.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. StockNews.com raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Piper Sandler decreased their target price on shares of Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Barclays cut their price target on shares of Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $228.31.

Reinsurance Group of America Stock Down 3.2 %

NYSE:RGA traded down $6.72 on Monday, hitting $201.75. 238,161 shares of the company’s stock were exchanged, compared to its average volume of 442,016. The firm has a 50-day moving average price of $218.73 and a 200-day moving average price of $217.40. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.17 and a quick ratio of 0.17. Reinsurance Group of America has a 52 week low of $165.38 and a 52 week high of $233.81. The company has a market cap of $13.29 billion, a P/E ratio of 18.77 and a beta of 0.93.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results on Thursday, February 6th. The insurance provider reported $4.99 earnings per share for the quarter, missing the consensus estimate of $5.22 by ($0.23). Reinsurance Group of America had a net margin of 3.24% and a return on equity of 14.80%. As a group, analysts expect that Reinsurance Group of America will post 23.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Reinsurance Group of America

Several hedge funds have recently bought and sold shares of the stock. Skandinaviska Enskilda Banken AB publ boosted its stake in Reinsurance Group of America by 45.8% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 618 shares of the insurance provider’s stock worth $131,000 after purchasing an additional 194 shares during the last quarter. Vestcor Inc raised its holdings in Reinsurance Group of America by 296.1% in the 4th quarter. Vestcor Inc now owns 4,923 shares of the insurance provider’s stock valued at $1,052,000 after buying an additional 3,680 shares during the period. Swiss National Bank raised its holdings in Reinsurance Group of America by 0.8% in the 4th quarter. Swiss National Bank now owns 129,500 shares of the insurance provider’s stock valued at $27,665,000 after buying an additional 1,000 shares during the period. Essential Planning LLC. purchased a new stake in Reinsurance Group of America in the 4th quarter valued at about $1,658,000. Finally, GC Wealth Management RIA LLC purchased a new stake in Reinsurance Group of America in the 4th quarter valued at about $201,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Company Profile

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.