Reinsurance Group of America (NYSE:RGA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday, March 12th.
According to Zacks, “Shares of Reinsurance Group have outperformed the industry year to date. The stock has also seen estimates moving north in 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. It expects operating income per share to grow 58% 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.”
Other equities research analysts have also recently issued reports about the stock. Citigroup set a $171.00 price target on shares of Reinsurance Group of America and gave the stock a “buy” rating in a research report on Tuesday, November 21st. Royal Bank of Canada reiterated a “hold” rating and issued a $165.00 price target on shares of Reinsurance Group of America in a research report on Friday, December 8th. Wells Fargo reiterated a “market perform” rating and issued a $165.00 price target (up from $160.00) on shares of Reinsurance Group of America in a research report on Wednesday, January 31st. Finally, UBS began coverage on Reinsurance Group of America in a research note on Friday, March 2nd. They issued a “neutral” rating and a $168.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $153.25.
RGA stock traded down $0.74 during trading on Monday, reaching $159.43. 88,081 shares of the company’s stock were exchanged, compared to its average volume of 336,860. The firm has a market capitalization of $10,327.98, a P/E ratio of 5.72, a PEG ratio of 1.42 and a beta of 0.75. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.29. Reinsurance Group of America has a 1 year low of $121.93 and a 1 year high of $165.12.
Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Monday, January 29th. The insurance provider reported $2.60 EPS for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.24). The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.22 billion. Reinsurance Group of America had a return on equity of 8.62% and a net margin of 14.56%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.92 EPS. research analysts predict that Reinsurance Group of America will post 12.5 EPS for the current year.
In other news, Director Alan C. Henderson sold 556 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $148.84, for a total transaction of $82,755.04. Following the sale, the director now directly owns 19,862 shares in the company, valued at $2,956,260.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Arnoud W.A. Boot sold 400 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $155.26, for a total value of $62,104.00. Following the sale, the director now owns 6,357 shares in the company, valued at $986,987.82. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,456 shares of company stock valued at $222,659. Corporate insiders own 1.76% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sumitomo Mitsui Asset Management Company LTD grew its position in Reinsurance Group of America by 103.3% in the fourth quarter. Sumitomo Mitsui Asset Management Company LTD now owns 35,441 shares of the insurance provider’s stock valued at $5,526,000 after acquiring an additional 18,008 shares during the period. Invictus RG bought a new stake in Reinsurance Group of America in the third quarter valued at $271,000. Pensionfund Sabic bought a new stake in shares of Reinsurance Group of America during the fourth quarter worth $1,559,000. Cornerstone Capital Management Holdings LLC. bought a new stake in shares of Reinsurance Group of America during the third quarter worth $2,298,000. Finally, UBS Asset Management Americas Inc. grew its holdings in shares of Reinsurance Group of America by 15.1% during the fourth quarter. UBS Asset Management Americas Inc. now owns 384,736 shares of the insurance provider’s stock worth $59,992,000 after purchasing an additional 50,371 shares during the last quarter. Institutional investors and hedge funds own 93.38% 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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