Reinsurance Group of America (NYSE:RGA) Given New $270.00 Price Target at Evercore ISI

Reinsurance Group of America (NYSE:RGA) had its price objective decreased by stock analysts at Evercore ISI from $280.00 to $270.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the insurance provider’s stock. Evercore ISI’s price objective suggests a potential upside of 43.99% from the company’s previous close.

A number of other research analysts have also recently commented on the company. Morgan Stanley reduced their price objective on Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating on the stock in a research note on Friday, February 14th. Wells Fargo & Company lifted their target price on Reinsurance Group of America from $263.00 to $264.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Barclays reduced their target price on shares of Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Piper Sandler cut their target price on shares of Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Reinsurance Group of America from $227.00 to $232.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Reinsurance Group of America has a consensus rating of “Moderate Buy” and a consensus price target of $231.85.

Reinsurance Group of America Stock Performance

Shares of Reinsurance Group of America stock traded down $0.35 during trading hours on Thursday, hitting $187.52. 54,913 shares of the company were exchanged, compared to its average volume of 527,668. The stock has a market capitalization of $12.38 billion, a price-to-earnings ratio of 17.42 and a beta of 0.91. The business has a 50-day moving average of $211.01 and a 200-day moving average of $215.29. The company has a current ratio of 0.15, a quick ratio of 0.17 and a debt-to-equity ratio of 0.46. Reinsurance Group of America has a 1 year low of $178.84 and a 1 year high of $233.81.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Thursday, February 6th. The insurance provider reported $4.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.23). Reinsurance Group of America had a return on equity of 14.55% and a net margin of 3.24%. As a group, analysts expect that Reinsurance Group of America will post 22.9 EPS for the current fiscal year.

Institutional Investors Weigh In On Reinsurance Group of America

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Colonial Trust Co SC increased its position in Reinsurance Group of America by 72.2% in the 4th quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 57 shares during the period. Private Trust Co. NA raised its holdings in shares of Reinsurance Group of America by 333.3% during the third quarter. Private Trust Co. NA now owns 156 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 120 shares during the period. Strengthening Families & Communities LLC bought a new position in Reinsurance Group of America in the third quarter worth approximately $36,000. Spire Wealth Management increased its holdings in shares of Reinsurance Group of America by 39.0% during the fourth quarter. Spire Wealth Management now owns 203 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 57 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Reinsurance Group of America during the fourth quarter worth approximately $44,000. 95.11% of the stock is currently owned by institutional investors.

About Reinsurance Group of America

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.