Wells Fargo & Company Issues Positive Forecast for Reinsurance Group of America (NYSE:RGA) Stock Price

Reinsurance Group of America (NYSE:RGA) had its target price hoisted by analysts at Wells Fargo & Company from $261.00 to $269.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 16.63% from the stock’s previous close.

A number of other analysts have also recently issued reports on the company. JPMorgan Chase & Co. upped their target price on Reinsurance Group of America from $264.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Piper Sandler reduced their price objective on Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Wall Street Zen raised Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Evercore restated an “outperform” rating and set a $267.00 target price on shares of Reinsurance Group of America in a research report on Monday, May 18th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Reinsurance Group of America in a report on Wednesday, May 13th. Seven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $255.50.

Reinsurance Group of America Trading Up 1.3%

NYSE RGA traded up $3.03 during trading hours on Thursday, reaching $230.65. The company had a trading volume of 127,073 shares, compared to its average volume of 373,918. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $15.11 billion, a P/E ratio of 12.49 and a beta of 0.47. The stock has a 50-day moving average of $210.62 and a 200 day moving average of $208.22. Reinsurance Group of America has a 1-year low of $165.52 and a 1-year high of $232.75.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Thursday, May 7th. The insurance provider reported $6.97 EPS for the quarter, topping the consensus estimate of $6.03 by $0.94. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.The firm had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.47 billion. During the same period in the previous year, the firm posted $5.66 EPS. Reinsurance Group of America’s revenue for the quarter was up 23.5% on a year-over-year basis. As a group, research analysts anticipate that Reinsurance Group of America will post 26.86 earnings per share for the current fiscal year.

Insider Activity at Reinsurance Group of America

In other Reinsurance Group of America news, EVP John W. Hayden sold 414 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $214.95, for a total transaction of $88,989.30. Following the sale, the executive vice president directly owned 20,949 shares in the company, valued at approximately $4,502,987.55. The trade was a 1.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ronald Herrmann sold 7,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $210.58, for a total transaction of $1,474,060.00. Following the transaction, the executive vice president owned 3,938 shares in the company, valued at $829,264.04. The trade was a 64.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Reinsurance Group of America

Hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. increased its holdings in Reinsurance Group of America by 44.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 221,198 shares of the insurance provider’s stock valued at $43,554,000 after purchasing an additional 67,880 shares in the last quarter. Focus Partners Wealth boosted its holdings in Reinsurance Group of America by 121.2% in the 1st quarter. Focus Partners Wealth now owns 2,676 shares of the insurance provider’s stock worth $527,000 after acquiring an additional 1,466 shares during the period. Geneos Wealth Management Inc. grew its position in Reinsurance Group of America by 17.6% in the first quarter. Geneos Wealth Management Inc. now owns 388 shares of the insurance provider’s stock valued at $76,000 after acquiring an additional 58 shares in the last quarter. Gabelli Funds LLC acquired a new position in shares of Reinsurance Group of America during the second quarter worth $1,006,000. Finally, Cerity Partners LLC grew its holdings in Reinsurance Group of America by 15.5% during the 2nd quarter. Cerity Partners LLC now owns 33,716 shares of the insurance provider’s stock valued at $6,688,000 after purchasing an additional 4,527 shares in the last quarter. Institutional investors and hedge funds own 95.11% of the company’s stock.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.