Citigroup Reiterates “$171.00” Price Target for Reinsurance Group of America (RGA)

Reinsurance Group of America (NYSE:RGA) has been given a $171.00 price objective by equities research analysts at Citigroup in a report released on Tuesday, November 21st. The firm presently has a “buy” rating on the insurance provider’s stock. Citigroup’s target price would suggest a potential upside of 7.02% from the company’s current price.

A number of other equities analysts have also commented on the stock. Royal Bank Of Canada raised their price objective on shares of Reinsurance Group of America and gave the company a “market perform” rating in a research report on Monday, October 30th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $148.00 price objective on shares of Reinsurance Group of America in a research report on Friday, November 10th. Wells Fargo & Company restated a “hold” rating and issued a $131.00 price objective on shares of Reinsurance Group of America in a research report on Thursday, October 26th. Goldman Sachs Group assumed coverage on shares of Reinsurance Group of America in a research report on Wednesday, October 18th. They issued a “buy” rating and a $153.00 price objective for the company. Finally, Zacks Investment Research lowered shares of Reinsurance Group of America from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $138.63.

Shares of Reinsurance Group of America (NYSE:RGA) traded down $1.03 during trading hours on Tuesday, reaching $159.79. 267,675 shares of the company’s stock were exchanged, compared to its average volume of 321,058. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.11 and a quick ratio of 0.11. The company has a market capitalization of $10,414.78, a price-to-earnings ratio of 14.86, a PEG ratio of 1.62 and a beta of 0.82. 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 earnings results on Thursday, October 26th. The insurance provider reported $3.44 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same quarter last year, the business earned $2.46 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis. sell-side analysts expect that Reinsurance Group of America will post 11.07 EPS for the current year.

In other Reinsurance Group of America news, Director Christine Rose Detrick sold 659 shares of Reinsurance Group of America stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $149.50, for a total transaction of $98,520.50. Following the transaction, the director now directly owns 4,023 shares of the company’s stock, valued at $601,438.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John P. Laughlin, Jr. sold 1,000 shares of Reinsurance Group of America stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $149.96, for a total transaction of $149,960.00. Following the transaction, the executive vice president now directly owns 27,277 shares in the company, valued at $4,090,458.92. The disclosure for this sale can be found here. Insiders own 1.76% of the company’s stock.

Several hedge funds have recently bought and sold shares of the business. Boston Partners raised its stake in shares of Reinsurance Group of America by 0.4% during the third quarter. Boston Partners now owns 2,240,938 shares of the insurance provider’s stock worth $312,678,000 after acquiring an additional 7,824 shares in the last quarter. AJO LP raised its stake in shares of Reinsurance Group of America by 30.2% during the second quarter. AJO LP now owns 1,748,038 shares of the insurance provider’s stock worth $224,431,000 after acquiring an additional 405,008 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Reinsurance Group of America by 0.4% during the third quarter. Bank of New York Mellon Corp now owns 1,117,646 shares of the insurance provider’s stock worth $155,945,000 after acquiring an additional 3,981 shares in the last quarter. Schroder Investment Management Group increased its stake in shares of Reinsurance Group of America by 7.1% in the third quarter. Schroder Investment Management Group now owns 896,676 shares of the insurance provider’s stock worth $125,490,000 after buying an additional 59,385 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of Reinsurance Group of America by 65.9% in the third quarter. Wells Fargo & Company MN now owns 791,981 shares of the insurance provider’s stock worth $110,504,000 after buying an additional 314,479 shares during the period. 91.53% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Reinsurance Group of America (NYSE:RGA)

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