Reinsurance Group of America (NYSE:RGA) Price Target Raised to $144.00 at Morgan Stanley

Reinsurance Group of America (NYSE:RGA) had its price target boosted by Morgan Stanley from $142.00 to $144.00 in a research report sent to investors on Wednesday morning, Stock Target Advisor reports. They currently have an underweight rating on the insurance provider’s stock.

Other analysts also recently issued reports about the stock. ValuEngine raised shares of Zynerba Pharmaceuticals from a hold rating to a buy rating in a research report on Friday, May 17th. Zacks Investment Research raised shares of IMI PLC/S from a sell rating to a hold rating in a research report on Wednesday, April 3rd. Finally, UBS Group boosted their target price on shares of Verisk Analytics from $106.00 to $111.00 and gave the stock a sell rating in a research report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. Reinsurance Group of America currently has a consensus rating of Hold and an average price target of $143.83.

RGA stock opened at $159.80 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.12 and a quick ratio of 0.12. The company has a market capitalization of $9.88 billion, a P/E ratio of 13.18 and a beta of 0.66. Reinsurance Group of America has a 12 month low of $127.84 and a 12 month high of $160.06. The business has a 50 day simple moving average of $153.07.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Monday, April 29th. The insurance provider reported $2.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.63 by ($0.02). The business had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.34 billion. Reinsurance Group of America had a return on equity of 9.64% and a net margin of 5.98%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.61 earnings per share. As a group, sell-side analysts expect that Reinsurance Group of America will post 13.12 earnings per share for the current fiscal year.

In related news, EVP Alain Neemeh sold 3,668 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $148.00, for a total transaction of $542,864.00. Following the completion of the sale, the executive vice president now directly owns 37,492 shares of the company’s stock, valued at approximately $5,548,816. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP John P. Laughlin, Jr. sold 3,000 shares of the company’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $156.81, for a total transaction of $470,430.00. Following the sale, the executive vice president now directly owns 35,097 shares of the company’s stock, valued at $5,503,560.57. The disclosure for this sale can be found here. 0.78% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Icon Wealth Partners LLC bought a new stake in shares of Reinsurance Group of America during the 1st quarter worth $29,000. Omnia Family Wealth LLC acquired a new position in Reinsurance Group of America during the 4th quarter valued at $145,000. Captrust Financial Advisors raised its stake in Reinsurance Group of America by 13.3% during the 4th quarter. Captrust Financial Advisors now owns 1,080 shares of the insurance provider’s stock valued at $151,000 after purchasing an additional 127 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in Reinsurance Group of America by 7.8% during the 4th quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,274 shares of the insurance provider’s stock valued at $178,000 after purchasing an additional 92 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in Reinsurance Group of America by 52.1% during the 1st quarter. Parkside Financial Bank & Trust now owns 1,349 shares of the insurance provider’s stock valued at $192,000 after purchasing an additional 462 shares during the last quarter. 91.95% of the stock is owned by institutional investors and hedge funds.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated engages in reinsurance business. It offers individual and group life and health insurance products, including term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products, as well as asset-intensive and financial reinsurance products.

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

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