Reinsurance Group of America, Incorporated (RGA) Coverage Initiated by Analysts at Goldman Sachs Group, Inc. (The)

Equities research analysts at Goldman Sachs Group, Inc. (The) began coverage on shares of Reinsurance Group of America, Incorporated (NYSE:RGA) in a research report issued to clients and investors on Wednesday, October 18th. The brokerage set a “buy” rating and a $153.00 price target on the insurance provider’s stock. Goldman Sachs Group, Inc. (The)’s price target indicates a potential upside of 0.53% from the company’s current price.

A number of other equities analysts have also weighed in on the company. Royal Bank Of Canada reaffirmed a “hold” rating and set a $134.00 target price on shares of Reinsurance Group of America, in a research report on Tuesday, October 10th. Zacks Investment Research raised Reinsurance Group of America, from a “hold” rating to a “buy” rating and set a $157.00 price target for the company in a research report on Tuesday, August 1st. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $137.00 price target on shares of Reinsurance Group of America, in a research report on Thursday, August 3rd. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $133.88.

Reinsurance Group of America, (RGA) traded up 5.06% on Wednesday, reaching $152.19. 528,680 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $140.13 and a 200-day moving average of $132.78. The firm has a market capitalization of $9.82 billion, a price-to-earnings ratio of 12.96 and a beta of 0.85. Reinsurance Group of America, has a 12 month low of $107.12 and a 12 month high of $152.19.

Reinsurance Group of America, (NYSE:RGA) last released its quarterly earnings results on Thursday, October 26th. The insurance provider reported $3.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.62 by $0.82. The company had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Reinsurance Group of America, had a return on equity of 9.51% and a net margin of 6.44%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.46 earnings per share. On average, equities analysts expect that Reinsurance Group of America, will post $10.24 earnings per share for the current year.

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In related news, EVP Alain Neemeh sold 7,500 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $139.69, for a total transaction of $1,047,675.00. Following the transaction, the executive vice president now directly owns 43,292 shares of the company’s stock, valued at approximately $6,047,459.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christine Rose Detrick sold 750 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $139.50, for a total value of $104,625.00. Following the transaction, the director now directly owns 4,682 shares in the company, valued at $653,139. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,970 shares of company stock valued at $2,096,360. 1.47% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. State Street Corp grew its position in shares of Reinsurance Group of America, by 11.7% in the 1st quarter. State Street Corp now owns 2,446,204 shares of the insurance provider’s stock worth $310,607,000 after buying an additional 255,846 shares during the last quarter. AJO LP boosted its position in shares of Reinsurance Group of America, by 30.2% during the second quarter. AJO LP now owns 1,748,038 shares of the insurance provider’s stock valued at $224,431,000 after purchasing an additional 405,008 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Reinsurance Group of America, by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 1,113,665 shares of the insurance provider’s stock valued at $142,984,000 after purchasing an additional 4,291 shares in the last quarter. Schroder Investment Management Group boosted its position in shares of Reinsurance Group of America, by 5.6% during the second quarter. Schroder Investment Management Group now owns 837,291 shares of the insurance provider’s stock valued at $107,944,000 after purchasing an additional 44,437 shares in the last quarter. Finally, LSV Asset Management boosted its position in shares of Reinsurance Group of America, by 9.0% during the second quarter. LSV Asset Management now owns 752,869 shares of the insurance provider’s stock valued at $96,660,000 after purchasing an additional 62,200 shares in the last quarter. 90.58% of the stock is currently owned by institutional investors and hedge funds.

Reinsurance Group of America, Company Profile

Reinsurance Group of America, Incorporated (RGA) is an insurance holding company. The Company provides traditional life and health reinsurance and financial solutions with operations in the United States, Latin America, Canada, Europe, Africa, Asia and Australia. It has geographic-based and business-based operational segments, including U.S.

Analyst Recommendations for Reinsurance Group of America, (NYSE:RGA)

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