Reinsurance Group of America,’s (NYSE:RGA) Hold Rating Reiterated at Wells Fargo & Company

Reinsurance Group of America, Incorporated (NYSE:RGA)‘s stock had its “hold” rating restated by analysts at Wells Fargo & Company in a report issued on Thursday, October 26th. They presently have a $131.00 price target on the insurance provider’s stock. Wells Fargo & Company’s price objective indicates a potential downside of 12.44% from the company’s previous close.

The analysts wrote, “We think shares will react favorably to the beat and strong underlying trends.  The war chest is still there; RGA is ready to take advantage of the Great Restructuring. After accounting for $27 million of share repurchase and a number of small in-force transactions, excess capital stood at $1.0 billion at September 30, same as at June 30. We think the life and annuity industry has entered a phase of rationalization where companies increasingly concentrate on product lines where they have competitive advantages and are able to deploy capital at highest returns.””

Several other equities analysts have also issued reports on RGA. Zacks Investment Research upgraded Reinsurance Group of America, from a “hold” rating to a “buy” rating and set a $157.00 target price for the company in a research report on Tuesday, August 1st. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $137.00 price objective on shares of Reinsurance Group of America, in a research report on Thursday, August 3rd. Goldman Sachs Group, Inc. (The) began coverage on Reinsurance Group of America, in a research report on Wednesday, October 18th. They issued a “buy” rating and a $153.00 price objective for the company. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $134.00 price objective on shares of Reinsurance Group of America, in a research report on Tuesday, October 10th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $135.25.

Shares of Reinsurance Group of America, (NYSE RGA) traded down $1.40 during mid-day trading on Thursday, reaching $149.62. The company had a trading volume of 310,700 shares, compared to its average volume of 323,788. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.11 and a current ratio of 0.11. The firm has a market capitalization of $9,636.13, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 1.50 and a beta of 0.80. Reinsurance Group of America, has a 1 year low of $114.78 and a 1 year high of $152.19.

Reinsurance Group of America, (NYSE:RGA) last announced its quarterly earnings data on Thursday, October 26th. The insurance provider reported $3.44 EPS for the quarter, topping the Zacks’ consensus estimate of $2.62 by $0.82. The firm had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.08 billion. Reinsurance Group of America, had a return on equity of 9.32% and a net margin of 6.44%. The company’s revenue was up 8.4% on a year-over-year basis. During the same period last year, the company earned $2.46 earnings per share. analysts expect that Reinsurance Group of America, will post 11.07 EPS for the current year.

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In other Reinsurance Group of America, news, EVP John P. Laughlin, Jr. sold 1,941 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $140.77, for a total value of $273,234.57. Following the transaction, the executive vice president now directly owns 28,218 shares of the company’s stock, valued at approximately $3,972,247.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John P. Laughlin, Jr. sold 1,000 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $149.96, for a total value of $149,960.00. Following the sale, the executive vice president now directly owns 27,277 shares in the company, valued at $4,090,458.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,040 shares of company stock worth $583,258. 1.47% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its position in shares of Reinsurance Group of America, by 65.9% during the 3rd quarter. Wells Fargo & Company MN now owns 791,981 shares of the insurance provider’s stock worth $110,504,000 after buying an additional 314,479 shares during the last quarter. Cadence Capital Management LLC lifted its position in shares of Reinsurance Group of America, by 21.1% during the 3rd quarter. Cadence Capital Management LLC now owns 2,614 shares of the insurance provider’s stock worth $365,000 after buying an additional 455 shares during the last quarter. Nuance Investments LLC raised its position in Reinsurance Group of America, by 10.6% in the third quarter. Nuance Investments LLC now owns 26,123 shares of the insurance provider’s stock valued at $3,645,000 after purchasing an additional 2,499 shares during the last quarter. Schroder Investment Management Group raised its position in Reinsurance Group of America, by 7.1% in the third quarter. Schroder Investment Management Group now owns 896,676 shares of the insurance provider’s stock valued at $125,490,000 after purchasing an additional 59,385 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Reinsurance Group of America, by 22.0% in the third quarter. JPMorgan Chase & Co. now owns 419,974 shares of the insurance provider’s stock valued at $58,774,000 after purchasing an additional 75,659 shares during the last quarter. 90.63% of the stock is currently owned by institutional investors.

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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