Reinsurance Group (RGA) Gets a Buy from Piper Sandler

Piper Sandler analyst John Barnidge maintained a Buy rating on Reinsurance Group (RGA – Research Report) today and set a price target of $242.00. The company’s shares closed yesterday at $217.04.

According to TipRanks, Barnidge is a 5-star analyst with an average return of 11.3% and a 63.48% success rate. Barnidge covers the Financial sector, focusing on stocks such as Voya Financial, Assurant, and Unum Group.

Currently, the analyst consensus on Reinsurance Group is a Strong Buy with an average price target of $241.70, implying an 11.36% upside from current levels. In a report released yesterday, Barclays also assigned a Buy rating to the stock with a $255.00 price target.

The company has a one-year high of $227.87 and a one-year low of $140.39. Currently, Reinsurance Group has an average volume of 366.3K.

Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RGA in relation to earlier this year. Last month, William Hutton, the EVP, GC & Secy of RGA sold 1,209.00 shares for a total of $264,734.73.

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Reinsurance Group (RGA) Company Description:

Reinsurance Group of America, Inc. is a holding company, which engages in the provision of traditional and non-traditional life and health reinsurance products. It operates through the following segments: U.S. and Latin America; Canada; Europe, Middle East, and Africa; Asia Pacific; and Corporate and Other. The U.S. and Latin America segment markets traditional life and health reinsurance, reinsurance of asset-intensive products, financial reinsurance, and other capital motivated solutions in the U.S., Mexico, and Brazil. The Canada segment includes operations of RGA Canada, which employs its own underwriting, actuarial, claims, pricing, accounting, systems, marketing, and administrative staff in offices located in Montreal and Toronto. The Europe, Middle East, and Africa segment serves clients from subsidiaries, licensed branch offices, and representative offices primarily located in France, Germany, Ireland, Italy, the Middle East, the Netherlands, Poland, South Africa, Spain, and the United Kingdom. The Asia Pacific segment covers operations in Australia, China, Hong Kong, India, Japan, Malaysia, New Zealand, Singapore, South Korea, and Taiwan. The Corporate and Other segment consists of investment income from unallocated invested assets, investment related gains, and losses and service fees. The company was founded in 1973 and is headquartered in Chesterfield, MO.