Reinsurance Group of America (NYSE:RGA) had its price objective cut by Morgan Stanley from $138.00 to $135.00 in a report released on Thursday morning. They currently have an underweight rating on the insurance provider’s stock.
Other analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Reinsurance Group of America from a hold rating to a buy rating and set a $174.00 price objective for the company in a research report on Thursday, January 4th. Royal Bank of Canada restated a hold rating and set a $165.00 price objective 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 previously from $160.00) on shares of Reinsurance Group of America in a research report on Wednesday, January 31st. Finally, UBS began coverage on shares of Reinsurance Group of America in a research report on Friday, March 2nd. They issued a neutral rating and a $168.00 price target for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. Reinsurance Group of America currently has a consensus rating of Hold and an average target price of $150.11.
Shares of NYSE:RGA traded down $3.90 during trading on Thursday, hitting $148.56. 96,685 shares of the company were exchanged, compared to its average volume of 366,783. The company has a market capitalization of $9,801.82, a PE ratio of 13.89, a P/E/G ratio of 1.36 and a beta of 0.74. 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 12-month low of $121.93 and a 12-month high of $165.12.
Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Monday, January 29th. The insurance provider reported $2.60 earnings per share for the quarter, missing the consensus estimate of $2.84 by ($0.24). The company had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.22 billion. Reinsurance Group of America had a return on equity of 8.62% and a net margin of 14.56%. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.92 EPS. equities research analysts predict that Reinsurance Group of America will post 12.42 EPS for the current fiscal year.
In other Reinsurance Group of America news, Director Arnoud W.A. Boot sold 400 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 6,357 shares of the company’s stock, valued at approximately $986,987.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alan C. Henderson sold 556 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $148.84, for a total transaction of $82,755.04. Following the completion of the transaction, the director now directly owns 19,862 shares in the company, valued at $2,956,260.08. The disclosure for this sale can be found here. 1.47% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in RGA. Fieldpoint Private Securities LLC acquired a new position in Reinsurance Group of America in the 3rd quarter valued at $113,000. Captrust Financial Advisors acquired a new position in Reinsurance Group of America in the 4th quarter valued at $116,000. Focused Wealth Management Inc acquired a new position in Reinsurance Group of America in the 4th quarter valued at $156,000. Parkside Financial Bank & Trust increased its stake in Reinsurance Group of America by 250.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,195 shares of the insurance provider’s stock valued at $186,000 after buying an additional 854 shares during the period. Finally, Foster & Motley Inc. acquired a new position in Reinsurance Group of America in the 4th quarter valued at $207,000. 93.38% of the stock is currently 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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