JPMorgan Chase & Co. Raises Reinsurance Group of America (NYSE:RGA) Price Target to $286.00

Reinsurance Group of America (NYSE:RGA) had its target price upped by equities research analysts at JPMorgan Chase & Co. from $270.00 to $286.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 19.70% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Weiss Ratings reissued a “buy (b)” rating on shares of Reinsurance Group of America in a research note on Wednesday, May 13th. Wall Street Zen upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. UBS Group lifted their price target on Reinsurance Group of America from $220.00 to $236.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Evercore reiterated an “outperform” rating and issued a $267.00 price objective on shares of Reinsurance Group of America in a research report on Monday, May 18th. Finally, Barclays increased their price objective on Reinsurance Group of America from $268.00 to $278.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $257.50.

Reinsurance Group of America Trading Down 0.8%

NYSE:RGA traded down $1.95 during trading hours on Tuesday, reaching $238.93. The company’s stock had a trading volume of 42,412 shares, compared to its average volume of 373,301. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.14 and a current ratio of 0.14. The firm has a market capitalization of $15.65 billion, a price-to-earnings ratio of 12.93 and a beta of 0.47. The firm has a 50-day simple moving average of $214.60 and a 200-day simple moving average of $209.93. Reinsurance Group of America has a 1 year low of $165.52 and a 1 year high of $245.00.

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

Insider Transactions at Reinsurance Group of America

In related news, EVP John W. Hayden sold 414 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total transaction of $88,989.30. Following the transaction, the executive vice president owned 20,949 shares in the company, valued at $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 available at this link. Also, EVP Ronald Herrmann sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $210.58, for a total value of $1,474,060.00. Following the transaction, the executive vice president directly owned 3,938 shares of the company’s stock, valued at $829,264.04. The trade was a 64.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Reinsurance Group of America

Large investors have recently made changes to their positions in the business. Activest Wealth Management bought a new position in shares of Reinsurance Group of America during the fourth quarter valued at approximately $30,000. Tobam boosted its holdings in Reinsurance Group of America by 244.7% in the fourth quarter. Tobam now owns 162 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 115 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Reinsurance Group of America during the 4th quarter valued at $35,000. Advisory Services Network LLC purchased a new position in Reinsurance Group of America during the 3rd quarter valued at $38,000. Finally, Entrust Financial LLC bought a new position in Reinsurance Group of America in the 4th quarter worth $40,000. 95.11% of the stock is currently owned by institutional investors.

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.