Wells Fargo & Company Increases Reinsurance Group of America (NYSE:RGA) Price Target to $263.00

Reinsurance Group of America (NYSE:RGA) had its price target increased by analysts at Wells Fargo & Company from $244.00 to $263.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 34.21% from the stock’s previous close.

A number of other equities analysts have also weighed in on the company. Piper Sandler decreased their target price 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, February 10th. Morgan Stanley decreased their target price 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. JPMorgan Chase & Co. upped their target price on Reinsurance Group of America from $227.00 to $232.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Barclays decreased their target price 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. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $245.00 target price on shares of Reinsurance Group of America in a research note on Monday, February 10th. Three research 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $229.54.

Reinsurance Group of America Stock Performance

NYSE:RGA opened at $195.96 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.17 and a current ratio of 0.15. Reinsurance Group of America has a 52-week low of $168.51 and a 52-week high of $233.81. The firm has a market cap of $12.91 billion, a price-to-earnings ratio of 18.25 and a beta of 0.93. The business’s fifty day moving average is $215.68 and its 200 day moving average is $216.29.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.23). Reinsurance Group of America had a net margin of 3.24% and a return on equity of 14.55%. Research analysts predict that Reinsurance Group of America will post 22.88 EPS for the current year.

Hedge Funds Weigh In On Reinsurance Group of America

Several institutional investors have recently modified their holdings of the company. Colonial Trust Co SC boosted its holdings in Reinsurance Group of America by 72.2% during 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 boosted its holdings 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 acquiring an additional 120 shares during the period. Strengthening Families & Communities LLC purchased a new stake in Reinsurance Group of America during the 3rd quarter valued at about $36,000. Capital Performance Advisors LLP purchased a new stake in Reinsurance Group of America during the 3rd quarter valued at about $37,000. Finally, Spire Wealth Management boosted 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. 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.