Wells Fargo & Co Reaffirms Market Perform Rating for Reinsurance Group of America (RGA)

Wells Fargo & Co restated their market perform rating on shares of Reinsurance Group of America (NYSE:RGA) in a research note released on Tuesday, 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.

Several other brokerages have also recently commented on RGA. 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. Zacks Investment Research cut shares of Reinsurance Group of America from a buy rating to a hold rating in a research report on Wednesday, December 27th. 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. Keefe, Bruyette & Woods reiterated a hold rating and issued a $148.00 price target on shares of Reinsurance Group of America in a research report on Friday, November 10th. Finally, 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 target on the stock. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Reinsurance Group of America currently has a consensus rating of Hold and an average price target of $146.88.

Shares of Reinsurance Group of America (NYSE:RGA) traded up $0.32 during trading on Tuesday, reaching $163.98. 240,112 shares of the company’s stock traded hands, compared to its average volume of 314,089. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.34. Reinsurance Group of America has a 12-month low of $121.93 and a 12-month high of $165.12. The company has a market capitalization of $10,560.00, a PE ratio of 13.51, a PEG ratio of 1.55 and a beta of 0.82.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, October 26th. The insurance provider reported $3.44 EPS for the quarter, topping the 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 firm had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the previous year, the business earned $2.46 earnings per share. Reinsurance Group of America’s revenue for the quarter was up 8.4% compared to the same quarter last year. equities research analysts anticipate that Reinsurance Group of America will post 11.07 EPS for the current fiscal year.

In other Reinsurance Group of America news, Director Christine Rose Detrick sold 659 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $149.50, for a total transaction of $98,520.50. Following the sale, the director now owns 4,023 shares in the company, valued at approximately $601,438.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP John P. Laughlin, Jr. sold 1,000 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $149.96, for a total value of $149,960.00. Following the sale, the executive vice president now owns 27,277 shares in the company, valued at approximately $4,090,458.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,159 shares of company stock worth $326,281. Corporate insiders own 1.76% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. IHT Wealth Management LLC raised its holdings in Reinsurance Group of America by 225.8% during the 2nd quarter. IHT Wealth Management LLC now owns 202 shares of the insurance provider’s stock worth $309,000 after buying an additional 140 shares during the period. Toronto Dominion Bank raised its holdings in Reinsurance Group of America by 11.7% during the 2nd quarter. Toronto Dominion Bank now owns 790 shares of the insurance provider’s stock worth $101,000 after buying an additional 83 shares during the period. Fieldpoint Private Securities LLC acquired a new stake in Reinsurance Group of America during the 3rd quarter worth about $113,000. Acrospire Investment Management LLC raised its holdings in Reinsurance Group of America by 66.7% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the insurance provider’s stock worth $128,000 after buying an additional 400 shares during the period. Finally, D.A. Davidson & CO. raised its holdings in Reinsurance Group of America by 27.3% during the 2nd quarter. D.A. Davidson & CO. now owns 1,157 shares of the insurance provider’s stock worth $148,000 after buying an additional 248 shares during the period. Hedge funds and other institutional investors own 91.49% of the company’s stock.

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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.

The Fly

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

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