JPMorgan Chase & Co. Boosts Reinsurance Group of America (NYSE:RGA) Price Target to $232.00

Reinsurance Group of America (NYSE:RGA) had its price target hoisted by analysts at JPMorgan Chase & Co. from $227.00 to $232.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 4.59% from the company’s current price.

Several other equities analysts have also recently commented on RGA. TD Cowen began coverage on shares of Reinsurance Group of America in a research report on Wednesday, October 9th. They issued a “hold” rating and a $235.00 price target for the company. Barclays lowered their target price on Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating for the company in a research note on Monday. Keefe, Bruyette & Woods raised Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, October 3rd. Raymond James boosted their price objective on Reinsurance Group of America from $228.00 to $250.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, Royal Bank of Canada raised their target price on shares of Reinsurance Group of America from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Reinsurance Group of America has a consensus rating of “Moderate Buy” and a consensus target price of $228.31.

Reinsurance Group of America Trading Up 0.0 %

Shares of NYSE RGA opened at $221.82 on Tuesday. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $14.61 billion, a PE ratio of 20.37 and a beta of 0.94. Reinsurance Group of America has a twelve month low of $163.81 and a twelve month high of $233.81. The stock has a fifty day simple moving average of $219.44 and a 200-day simple moving average of $215.16.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.31 by $0.82. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%. The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same period in the prior year, the firm earned $5.57 earnings per share. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, equities analysts forecast that Reinsurance Group of America will post 21.67 earnings per share for the current year.

Institutional Trading of Reinsurance Group of America

Hedge funds and other institutional investors have recently made changes to their positions in the company. WCM Investment Management LLC grew its stake in Reinsurance Group of America by 1,208.5% during the 3rd 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 during the last quarter. Zurich Insurance Group Ltd FI grew its position in shares of Reinsurance Group of America by 681.8% during the second quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider’s stock worth $104,244,000 after acquiring an additional 442,883 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Reinsurance Group of America by 43.8% in the 2nd quarter. Millennium Management LLC now owns 437,266 shares of the insurance provider’s stock valued at $89,758,000 after acquiring an additional 133,212 shares during the period. JPMorgan Chase & Co. raised its position in Reinsurance Group of America by 47.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 364,953 shares of the insurance provider’s stock valued at $79,512,000 after purchasing an additional 117,829 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Reinsurance Group of America during the 3rd quarter worth $11,803,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

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.