Reinsurance Group of America (NYSE:RGA) Price Target Cut to $242.00 by Analysts at Piper Sandler

Reinsurance Group of America (NYSE:RGA) had its price objective cut by analysts at Piper Sandler from $252.00 to $242.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the insurance provider’s stock. Piper Sandler’s price target points to a potential upside of 18.60% from the company’s current price.

RGA has been the subject of several other reports. 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 report on Monday, January 6th. Royal Bank of Canada raised their target price on Reinsurance Group of America from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. raised their target price on Reinsurance Group of America from $227.00 to $232.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Finally, StockNews.com raised Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $228.31.

Reinsurance Group of America Price Performance

Shares of RGA stock traded down $4.43 during trading hours on Monday, reaching $204.04. The company’s stock had a trading volume of 98,619 shares, compared to its average volume of 435,962. The firm’s 50 day simple moving average is $218.73 and its 200-day simple moving average is $217.40. The company has a market capitalization of $13.44 billion, a price-to-earnings ratio of 19.04 and a beta of 0.93. Reinsurance Group of America has a fifty-two week low of $165.38 and a fifty-two week high of $233.81. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.45.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Thursday, February 6th. The insurance provider reported $4.99 earnings per share 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 14.80%. Sell-side analysts forecast that Reinsurance Group of America will post 23.14 earnings per share for the current year.

Hedge Funds Weigh In On Reinsurance Group of America

Several institutional investors have recently bought and sold shares of the company. Resonant Capital Advisors LLC raised its holdings in Reinsurance Group of America by 1.2% during the 3rd quarter. Resonant Capital Advisors LLC now owns 4,368 shares of the insurance provider’s stock valued at $952,000 after acquiring an additional 53 shares during the period. Spire Wealth Management raised its holdings in Reinsurance Group of America by 39.0% during the 4th quarter. Spire Wealth Management now owns 203 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 57 shares during the period. Keybank National Association OH raised its holdings in Reinsurance Group of America by 2.6% during the 4th quarter. Keybank National Association OH now owns 2,342 shares of the insurance provider’s stock valued at $500,000 after acquiring an additional 59 shares during the period. Baron Wealth Management LLC raised its holdings in Reinsurance Group of America by 4.5% during the 3rd quarter. Baron Wealth Management LLC now owns 1,485 shares of the insurance provider’s stock valued at $324,000 after acquiring an additional 64 shares during the period. Finally, Tectonic Advisors LLC increased its holdings in shares of Reinsurance Group of America by 3.0% in the third quarter. Tectonic Advisors LLC now owns 2,358 shares of the insurance provider’s stock worth $514,000 after purchasing an additional 69 shares during the period. Hedge funds and other institutional investors 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.