Wells Fargo & Company Increases Reinsurance Group of America (NYSE:RGA) Price Target to $263.00

Reinsurance Group of America (NYSE:RGA) had its target price raised by equities researchers at Wells Fargo & Company from $244.00 to $263.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 34.21% from the company’s previous close.

RGA has been the topic of several other research reports. Piper Sandler cut their target price on Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. JPMorgan Chase & Co. lifted their target price on Reinsurance Group of America from $227.00 to $232.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Morgan Stanley cut their target price on Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. Barclays cut their target price on Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $245.00 target price on shares of Reinsurance Group of America in a research report on Monday, February 10th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Reinsurance Group of America has an average rating of “Moderate Buy” and a consensus price target of $229.54.

Reinsurance Group of America Trading Down 1.6 %

NYSE RGA opened at $195.96 on Wednesday. The company has a market cap of $12.91 billion, a price-to-earnings ratio of 18.25 and a beta of 0.93. Reinsurance Group of America has a 52 week low of $168.51 and a 52 week high of $233.81. The business has a 50 day moving average price of $215.68 and a 200-day moving average price of $216.29. The company has a quick ratio of 0.17, a current ratio of 0.15 and a debt-to-equity ratio of 0.46.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Thursday, February 6th. The insurance provider reported $4.99 EPS 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 14.55%. As a group, equities analysts expect that Reinsurance Group of America will post 22.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Colonial Trust Co SC lifted its position in shares of Reinsurance Group of America by 72.2% during the 4th quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider’s stock valued at $29,000 after buying an additional 57 shares during the last quarter. Private Trust Co. NA lifted its position in shares of Reinsurance Group of America by 333.3% during the 3rd quarter. Private Trust Co. NA now owns 156 shares of the insurance provider’s stock valued at $34,000 after buying an additional 120 shares during the last quarter. Strengthening Families & Communities LLC purchased a new position in shares of Reinsurance Group of America during the 3rd quarter valued at $36,000. Capital Performance Advisors LLP purchased a new position in shares of Reinsurance Group of America during the 3rd quarter valued at $37,000. Finally, Spire Wealth Management lifted its position in shares of Reinsurance Group of America by 39.0% during the 4th quarter. Spire Wealth Management now owns 203 shares of the insurance provider’s stock valued at $43,000 after buying an additional 57 shares during the last quarter. Hedge funds and other 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.