Reinsurance Group of America (NYSE:RGA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday. The firm currently has a $179.00 target price on the insurance provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 10.99% from the company’s current price.
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.”
Several other equities analysts also recently commented on the stock. Royal Bank of Canada reiterated a “hold” rating and set a $165.00 price target on shares of Reinsurance Group of America in a report on Friday, December 8th. Wells Fargo reiterated a “market perform” rating and set a $160.00 price target (up from $150.00) on shares of Reinsurance Group of America in a report on Tuesday, January 9th. Citigroup set a $171.00 price target on shares of Reinsurance Group of America and gave the company a “buy” rating in a report on Tuesday, November 21st. Finally, UBS started coverage on shares of Reinsurance Group of America in a report on Friday, March 2nd. They set a “neutral” rating and a $168.00 price target on the stock. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $153.25.
Reinsurance Group of America stock opened at $161.27 on Monday. The company has a market cap of $10,327.98, a PE ratio of 5.82, a P/E/G ratio of 1.42 and a beta of 0.75. Reinsurance Group of America has a fifty-two week low of $121.93 and a fifty-two week high of $165.12. 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 (NYSE:RGA) last issued its quarterly earnings results on Monday, January 29th. The insurance provider reported $2.60 EPS for the quarter, missing the consensus estimate of $2.84 by ($0.24). The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.22 billion. Reinsurance Group of America had a net margin of 14.56% and a return on equity of 8.62%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.92 earnings per share. equities analysts predict that Reinsurance Group of America will post 12.5 earnings per share for the current fiscal year.
In other Reinsurance Group of America news, Director Alan C. Henderson sold 556 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $148.84, for a total value of $82,755.04. Following the completion of the sale, the director now directly owns 19,862 shares of the company’s stock, valued at approximately $2,956,260.08. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP John P. Laughlin, Jr. sold 500 shares of the business’s stock in a transaction dated Tuesday, December 26th. The shares were sold at an average price of $155.60, for a total transaction of $77,800.00. Following the completion of the sale, the executive vice president now directly owns 26,777 shares of the company’s stock, valued at $4,166,501.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,456 shares of company stock valued at $222,659. 1.76% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in RGA. Toronto Dominion Bank boosted its position in Reinsurance Group of America by 244.2% in the 3rd quarter. Toronto Dominion Bank now owns 2,719 shares of the insurance provider’s stock valued at $379,000 after buying an additional 1,929 shares during the period. Bank of New York Mellon Corp boosted its position in Reinsurance Group of America by 0.4% in 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 buying an additional 3,981 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in Reinsurance Group of America by 3.0% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 21,528 shares of the insurance provider’s stock valued at $3,004,000 after buying an additional 637 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Reinsurance Group of America by 0.3% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 204,088 shares of the insurance provider’s stock worth $28,476,000 after purchasing an additional 594 shares during the period. Finally, Halsey Associates Inc. CT purchased a new stake in shares of Reinsurance Group of America in the 3rd quarter worth approximately $205,000. 93.38% of the stock is owned by institutional investors.
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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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