Morgan Stanley Increases Reinsurance Group of America (NYSE:RGA) Price Target to $130.00

Reinsurance Group of America (NYSE:RGA) had its target price raised by equities researchers at Morgan Stanley from $127.00 to $130.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “underweight” rating on the insurance provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 7.78% from the stock’s current price.

Other equities analysts also recently issued reports about the company. decreased their target price on Reinsurance Group of America from $146.00 to $142.00 and set a “buy” rating for the company in a research note on Monday, June 21st. Zacks Investment Research upgraded Reinsurance Group of America from a “sell” rating to a “hold” rating and set a $117.00 target price for the company in a research note on Wednesday, August 4th. Keefe, Bruyette & Woods raised Reinsurance Group of America from a “market perform” rating to an “outperform” rating and set a $142.00 price target on the stock in a report on Tuesday. Finally, JPMorgan Chase & Co. raised Reinsurance Group of America from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $137.00 to $138.00 in a report on Monday, July 12th. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $127.78.

RGA stock traded up $2.11 during midday trading on Thursday, reaching $120.62. The company had a trading volume of 1,618 shares, compared to its average volume of 436,888. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.24. The stock has a 50 day moving average price of $115.95 and a 200 day moving average price of $119.96. Reinsurance Group of America has a fifty-two week low of $93.00 and a fifty-two week high of $134.93. The firm has a market capitalization of $8.20 billion, a PE ratio of 9.95 and a beta of 1.23.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Monday, August 2nd. The insurance provider reported $4.00 EPS for the quarter, beating the Zacks’ consensus estimate of $2.35 by $1.65. Reinsurance Group of America had a return on equity of 3.84% and a net margin of 5.16%. The company had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $3.67 billion. Research analysts predict that Reinsurance Group of America will post 9.48 EPS for the current year.

In related news, Director Christine Rose Detrick sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 6th. The stock was sold at an average price of $121.70, for a total transaction of $365,100.00. Following the sale, the director now owns 5,918 shares of the company’s stock, valued at $720,220.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.98% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. Koshinski Asset Management Inc. purchased a new position in Reinsurance Group of America during the 3rd quarter worth approximately $50,000. Berman Capital Advisors LLC grew its position in Reinsurance Group of America by 104.4% during the 3rd quarter. Berman Capital Advisors LLC now owns 325 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 166 shares in the last quarter. Thrivent Financial for Lutherans grew its position in Reinsurance Group of America by 50.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 156,816 shares of the insurance provider’s stock worth $17,877,000 after purchasing an additional 52,911 shares in the last quarter. PhiloSmith Capital Corp grew its position in Reinsurance Group of America by 12.4% during the 2nd quarter. PhiloSmith Capital Corp now owns 143,550 shares of the insurance provider’s stock worth $16,365,000 after purchasing an additional 15,800 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in Reinsurance Group of America during the 2nd quarter worth approximately $234,000. Hedge funds and other institutional investors own 93.22% of the company’s stock.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Inc is a holding company, which engages in the provision of traditional and non-traditional life and health reinsurance products. It operates through the following segments: U.S. and Latin America; Canada; Europe, Middle East, and Africa; Asia Pacific; and Corporate and Other.

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Analyst Recommendations for Reinsurance Group of America (NYSE:RGA)

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