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.
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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