Barclays Issues Pessimistic Forecast for Reinsurance Group of America (NYSE:RGA) Stock Price

Reinsurance Group of America (NYSE:RGA) had its target price dropped by stock analysts at Barclays from $255.00 to $252.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the insurance provider’s stock. Barclays‘s target price would indicate a potential upside of 14.69% from the company’s current price.

Other analysts have also issued reports about the company. Keefe, Bruyette & Woods upgraded Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, October 3rd. Wells Fargo & Company lifted their target price on Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Piper Sandler upped their price target on shares of Reinsurance Group of America from $237.00 to $242.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Royal Bank of Canada lifted their price objective on Reinsurance Group of America from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Finally, StockNews.com raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $227.54.

Reinsurance Group of America Price Performance

NYSE:RGA traded up $1.05 during trading hours on Monday, reaching $219.72. 282,757 shares of the company were exchanged, compared to its average volume of 394,000. The company has a market capitalization of $14.47 billion, a P/E ratio of 20.18 and a beta of 0.93. 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 business has a 50 day moving average of $218.98 and a 200 day moving average of $214.93. Reinsurance Group of America has a 1-year low of $163.81 and a 1-year high of $233.81.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share for the quarter, topping analysts’ consensus estimates of $5.31 by $0.82. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%. The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same quarter in the prior year, the business posted $5.57 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. Research analysts forecast that Reinsurance Group of America will post 21.67 EPS for the current year.

Institutional Investors Weigh In On Reinsurance Group of America

Several large investors have recently made changes to their positions in the business. Armstrong Advisory Group Inc. bought a new position in Reinsurance Group of America in the 3rd quarter worth approximately $25,000. Private Trust Co. NA grew its stake in 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 worth $34,000 after buying an additional 120 shares during the last quarter. Wolff Wiese Magana LLC acquired a new position in Reinsurance Group of America during the 3rd quarter worth about $34,000. Strengthening Families & Communities LLC acquired a new stake in shares of Reinsurance Group of America in the 3rd quarter valued at $36,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Reinsurance Group of America during the 3rd quarter valued at $37,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

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.