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

Reinsurance Group of America (NYSE:RGA) had its price target upped by stock analysts at Wells Fargo & Company from $263.00 to $264.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 32.46% from the company’s current price.

Several other equities research analysts also recently weighed in on RGA. Barclays reduced their price target on shares of Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Piper Sandler reduced their target price on Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating for the company in a report on Monday, February 10th. JPMorgan Chase & Co. upped their price target on Reinsurance Group of America from $227.00 to $232.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $245.00 price objective on shares of Reinsurance Group of America in a report on Monday, February 10th. Finally, Morgan Stanley lowered their target price on shares of Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating on the stock in a research note on Friday, February 14th. Three research 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 company. According to data from MarketBeat.com, Reinsurance Group of America presently has a consensus rating of “Moderate Buy” and a consensus price target of $229.62.

Reinsurance Group of America Trading Down 0.2 %

Reinsurance Group of America stock opened at $199.31 on Tuesday. Reinsurance Group of America has a 12 month low of $171.84 and a 12 month high of $233.81. The company has a current ratio of 0.15, a quick ratio of 0.17 and a debt-to-equity ratio of 0.46. The business’s fifty day simple moving average is $214.44 and its two-hundred day simple moving average is $216.23. The company has a market capitalization of $13.16 billion, a price-to-earnings ratio of 18.56 and a beta of 0.93.

Reinsurance Group of America (NYSE:RGA) last announced 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 predict that Reinsurance Group of America will post 22.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Reinsurance Group of America

Several institutional investors and hedge funds have recently bought and sold shares of RGA. WCM Investment Management LLC increased its position in Reinsurance Group of America by 1,208.5% in the third quarter. WCM Investment Management LLC now owns 2,447,668 shares of the insurance provider’s stock worth $527,742,000 after buying an additional 2,260,605 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Reinsurance Group of America by 389.4% in the 4th quarter. Alliancebernstein L.P. now owns 1,123,022 shares of the insurance provider’s stock worth $239,911,000 after acquiring an additional 893,537 shares in the last quarter. Norges Bank bought a new stake in Reinsurance Group of America during the 4th quarter worth approximately $174,082,000. FMR LLC lifted its holdings in Reinsurance Group of America by 11.1% during the fourth quarter. FMR LLC now owns 5,640,788 shares of the insurance provider’s stock valued at $1,205,042,000 after purchasing an additional 564,693 shares in the last quarter. Finally, Tidal Investments LLC boosted its position in shares of Reinsurance Group of America by 6,944.4% in the fourth quarter. Tidal Investments LLC now owns 285,368 shares of the insurance provider’s stock worth $60,963,000 after purchasing an additional 281,317 shares during the period. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

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.