Barclays Cuts Reinsurance Group of America (NYSE:RGA) Price Target to $252.00

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

RGA has been the subject of a number of other reports. Keefe, Bruyette & Woods raised Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, October 3rd. StockNews.com upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Wells Fargo & Company boosted their price target on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. increased their target price on shares of Reinsurance Group of America from $220.00 to $222.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. Finally, Raymond James boosted their target price on Reinsurance Group of America from $228.00 to $250.00 and gave the company a “strong-buy” rating in a report on Tuesday, September 24th. Three equities research analysts have rated the stock with a hold rating, nine have given 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 currently has an average rating of “Moderate Buy” and a consensus target price of $227.54.

Reinsurance Group of America Stock Performance

Shares of NYSE:RGA traded up $1.05 on Monday, hitting $219.72. 282,757 shares of the company were exchanged, compared to its average volume of 394,000. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.45. The stock’s 50 day moving average price is $218.98 and its 200 day moving average price is $214.93. The firm has a market capitalization of $14.47 billion, a P/E ratio of 20.18 and a beta of 0.93. 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 quarterly earnings data on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.31 by $0.82. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The company had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.29 billion. During the same period in the previous year, the firm posted $5.57 EPS. Reinsurance Group of America’s revenue was up 9.7% compared to the same quarter last year. Sell-side analysts predict that Reinsurance Group of America will post 21.67 EPS for the current year.

Institutional Trading of Reinsurance Group of America

Institutional investors have recently modified their holdings of the business. Earnest Partners LLC boosted its stake in Reinsurance Group of America by 1.9% during the second quarter. Earnest Partners LLC now owns 2,628,129 shares of the insurance provider’s stock worth $539,476,000 after acquiring an additional 50,228 shares in the last quarter. WCM Investment Management LLC lifted its stake in shares of Reinsurance Group of America by 1,208.5% in the 3rd quarter. WCM Investment Management LLC now owns 2,447,668 shares of the insurance provider’s stock valued at $527,742,000 after acquiring an additional 2,260,605 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Reinsurance Group of America by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,109,766 shares of the insurance provider’s stock valued at $241,849,000 after acquiring an additional 18,162 shares in the last quarter. Sei Investments Co. boosted its position in shares of Reinsurance Group of America by 5.9% during the second quarter. Sei Investments Co. now owns 825,719 shares of the insurance provider’s stock valued at $169,497,000 after purchasing an additional 45,709 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI grew its position in shares of Reinsurance Group of America by 681.8% in the 2nd quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider’s stock worth $104,244,000 after buying an additional 442,883 shares during the period. Institutional investors 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.