Reinsurance Group of America’s (NYSE:RGA) Market Perform Rating Reaffirmed at Wells Fargo & Co

Reinsurance Group of America (NYSE:RGA)‘s stock had its “market perform” rating restated by equities research analysts at Wells Fargo & Co in a research note issued on Tuesday, January 9th, The Fly reports. They currently have a $160.00 target price on the insurance provider’s stock, up from their prior target price of $150.00. Wells Fargo & Co’s price target points to a potential downside of 2.43% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Royal Bank of Canada reissued a “hold” rating and set a $134.00 price objective on shares of Reinsurance Group of America in a research report on Tuesday, October 10th. Goldman Sachs Group started coverage on Reinsurance Group of America in a report on Wednesday, October 18th. They issued a “buy” rating and a $153.00 price target for the company. Zacks Investment Research downgraded Reinsurance Group of America from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Citigroup set a $171.00 price target on Reinsurance Group of America and gave the company a “buy” rating in a report on Tuesday, November 21st. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $148.00 price objective on shares of Reinsurance Group of America in a research note on Friday, November 10th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $146.88.

Shares of Reinsurance Group of America (RGA) opened at $163.98 on Tuesday. 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 stock has a market cap of $10,560.98, a PE ratio of 13.50, a price-to-earnings-growth ratio of 1.48 and a beta of 0.82. Reinsurance Group of America has a one year low of $121.93 and a one year high of $165.12.

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

In other news, Director Christine Rose Detrick sold 659 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $149.50, for a total value of $98,520.50. Following the transaction, the director now directly owns 4,023 shares in the company, valued at approximately $601,438.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP John P. Laughlin, Jr. sold 500 shares of the firm’s stock in a transaction dated 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 owns 26,777 shares in the company, valued at $4,166,501.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,159 shares of company stock worth $326,281. 1.76% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Boston Partners grew its stake in 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 purchasing an additional 7,824 shares in the last quarter. Bank of New York Mellon Corp grew its stake in 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 purchasing an additional 3,981 shares in the last quarter. Schroder Investment Management Group grew its position in shares of Reinsurance Group of America by 7.1% in the 3rd quarter. Schroder Investment Management Group now owns 896,676 shares of the insurance provider’s stock worth $125,490,000 after acquiring an additional 59,385 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Reinsurance Group of America by 65.9% in the 3rd quarter. Wells Fargo & Company MN now owns 791,981 shares of the insurance provider’s stock worth $110,504,000 after acquiring an additional 314,479 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Reinsurance Group of America by 14.5% in the 3rd quarter. Principal Financial Group Inc. now owns 765,227 shares of the insurance provider’s stock worth $106,772,000 after acquiring an additional 96,645 shares in the last quarter. Hedge funds and other institutional investors own 91.50% of the company’s stock.

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About Reinsurance Group of America

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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