Reinsurance Group of America (RGA) Downgraded by Zacks Investment Research to Hold

Reinsurance Group of America (NYSE:RGA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday, December 27th.

According to Zacks, “Shares of Reinsurance Group have outperformed the industry, quarter to date. The company also witnessed the Zacks Consensus Estimate moving north over the last 60 days. Reinsurance Group continues to benefit from a mix of organic and transactional opportunities. Its niche position in the U.S. and Canadian reinsurance markets and the expansion of its international operations and diversified earnings stream are positives. Moreover, it is poised to benefit from an improving life reinsurance pricing environment. Thus it expects operating income per share to grow 5% to 8% and operating ROE between 10% and 12% in the intermediate term. However, exposure to foreign exchange volatility, volatile Australian business and evolving capital requirements pose headwinds for the company in near term.”

Several other equities research analysts have also issued reports on RGA. Royal Bank of Canada reissued a “hold” rating and issued a $134.00 target price on shares of Reinsurance Group of America in a report on Tuesday, October 10th. Goldman Sachs Group assumed coverage on shares of Reinsurance Group of America in a report on Wednesday, October 18th. They issued a “buy” rating and a $153.00 target price for the company. Citigroup set a $171.00 target price on shares of Reinsurance Group of America and gave the stock a “buy” rating in a report on Tuesday, November 21st. Wells Fargo & Co reissued a “hold” rating and issued a $131.00 target price on shares of Reinsurance Group of America in a report on Thursday, October 26th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $148.00 target price on shares of Reinsurance Group of America in a report on Friday, November 10th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $146.88.

Shares of Reinsurance Group of America (RGA) opened at $163.66 on Wednesday. Reinsurance Group of America has a 52-week low of $121.93 and a 52-week high of $165.12. The company has a market cap of $10,520.00, a PE ratio of 13.48, a PEG ratio of 1.55 and a beta of 0.82. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.11 and a current ratio of 0.11.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results on Thursday, October 26th. The insurance provider reported $3.44 EPS for the quarter, beating the Thomson Reuters’ 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 net margin of 6.44% and a return on equity of 9.32%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.46 EPS. sell-side analysts expect that Reinsurance Group of America will post 11.07 earnings per share for the current fiscal year.

In other Reinsurance Group of America news, EVP John P. Laughlin, Jr. sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $155.60, for a total value of $77,800.00. Following the completion of the transaction, the executive vice president now directly owns 26,777 shares in the company, valued at approximately $4,166,501.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christine Rose Detrick sold 659 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $149.50, for a total value of $98,520.50. Following the completion of the transaction, the director now owns 4,023 shares of the company’s stock, valued at $601,438.50. The disclosure for this sale can be found here. Insiders sold a total of 2,159 shares of company stock valued at $326,281 over the last 90 days. 1.76% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Boston Partners boosted its position in shares of Reinsurance Group of America by 0.4% during the 3rd quarter. Boston Partners now owns 2,240,938 shares of the insurance provider’s stock valued at $312,678,000 after acquiring an additional 7,824 shares during the last quarter. AJO LP boosted its position in shares of Reinsurance Group of America by 30.2% during the 2nd quarter. AJO LP now owns 1,748,038 shares of the insurance provider’s stock valued at $224,431,000 after acquiring an additional 405,008 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Reinsurance Group of America by 0.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,117,646 shares of the insurance provider’s stock valued at $155,945,000 after acquiring an additional 3,981 shares during the last quarter. Schroder Investment Management Group boosted its position in shares of Reinsurance Group of America by 7.1% during the 3rd quarter. Schroder Investment Management Group now owns 896,676 shares of the insurance provider’s stock valued at $125,490,000 after acquiring an additional 59,385 shares during the last quarter. Finally, Wells Fargo & Company MN boosted 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 valued at $110,504,000 after acquiring an additional 314,479 shares during the last quarter. Hedge funds and other institutional investors own 91.49% of the company’s stock.

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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.

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