Royal Bank of Canada Reiterates “Outperform” Rating for Reinsurance Group of America (NYSE:RGA)

Reinsurance Group of America (NYSE:RGA)‘s stock had its “outperform” rating reiterated by Royal Bank of Canada in a report released on Monday,Benzinga reports. They presently have a $245.00 price objective on the insurance provider’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 21.44% from the stock’s previous close.

A number of other analysts have also commented on RGA. Barclays decreased their price objective on Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. StockNews.com raised Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Piper Sandler decreased their price objective on Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, JPMorgan Chase & Co. increased their price objective on Reinsurance Group of America from $227.00 to $232.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Three 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $228.31.

Reinsurance Group of America Price Performance

Reinsurance Group of America stock traded down $6.72 during trading hours on Monday, hitting $201.75. The stock had a trading volume of 238,161 shares, compared to its average volume of 442,016. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.17 and a quick ratio of 0.17. The stock has a market capitalization of $13.29 billion, a price-to-earnings ratio of 18.77 and a beta of 0.93. Reinsurance Group of America has a 1-year low of $165.38 and a 1-year high of $233.81. The stock’s fifty day moving average is $218.73 and its two-hundred day moving average is $217.40.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results 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%. As a group, analysts predict that Reinsurance Group of America will post 23.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Reinsurance Group of America

Hedge funds and other institutional investors have recently bought and sold shares of the business. Armstrong Advisory Group Inc. acquired a new position in shares of Reinsurance Group of America in the 3rd quarter worth approximately $25,000. Wolff Wiese Magana LLC acquired a new position in Reinsurance Group of America during the 3rd quarter valued at approximately $34,000. Private Trust Co. NA boosted its position in Reinsurance Group of America by 333.3% during the 3rd 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 acquired a new position in Reinsurance Group of America during the 3rd quarter valued at approximately $36,000. Finally, Capital Performance Advisors LLP acquired a new position in Reinsurance Group of America during the 3rd quarter valued at approximately $37,000. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

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.