JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Reinsurance Group of America (NYSE:RGA) Stock

Reinsurance Group of America (NYSE:RGA) had its price objective lifted by equities research analysts at JPMorgan Chase & Co. from $227.00 to $232.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the insurance provider’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 4.59% from the company’s previous close.

A number of other brokerages have also weighed in on RGA. StockNews.com raised Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Piper Sandler upped their price objective on Reinsurance Group of America from $237.00 to $242.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Barclays cut their price objective 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. Keefe, Bruyette & Woods upgraded shares of Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, October 3rd. Finally, Royal Bank of Canada increased their price target on shares of Reinsurance Group of America from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, November 4th. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $228.31.

Reinsurance Group of America Price Performance

Shares of NYSE RGA opened at $221.82 on Tuesday. The stock has a fifty day moving average price of $219.44 and a 200 day moving average price of $215.16. Reinsurance Group of America has a 1-year low of $163.81 and a 1-year high of $233.81. 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 company has a market cap of $14.61 billion, a PE ratio of 20.37 and a beta of 0.94.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Thursday, October 31st. The insurance provider reported $6.13 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $5.29 billion. During the same quarter last year, the business earned $5.57 EPS. The business’s revenue was up 9.7% on a year-over-year basis. Sell-side analysts forecast that Reinsurance Group of America will post 21.67 EPS for the current year.

Institutional Trading of Reinsurance Group of America

Hedge funds and other institutional investors have recently bought and sold shares of the company. WCM Investment Management LLC lifted its stake in shares of Reinsurance Group of America by 1,208.5% during the 3rd quarter. WCM Investment Management LLC now owns 2,447,668 shares of the insurance provider’s stock worth $527,742,000 after purchasing an additional 2,260,605 shares during the period. Zurich Insurance Group Ltd FI increased its stake in Reinsurance Group of America by 681.8% in the second quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider’s stock valued at $104,244,000 after purchasing an additional 442,883 shares during the last quarter. Millennium Management LLC lifted its position in Reinsurance Group of America by 43.8% during the second quarter. Millennium Management LLC now owns 437,266 shares of the insurance provider’s stock worth $89,758,000 after buying an additional 133,212 shares during the period. JPMorgan Chase & Co. boosted its stake in Reinsurance Group of America by 47.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 364,953 shares of the insurance provider’s stock worth $79,512,000 after buying an additional 117,829 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Reinsurance Group of America in the 3rd quarter valued at about $11,803,000. 95.11% of the stock is owned by hedge funds and other 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.