Reinsurance Group of America (NYSE:RGA) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Reinsurance Group of America (NYSE:RGA) from a hold rating to a buy rating in a report released on Thursday, January 4th. The firm currently has $174.00 target price on the insurance provider’s stock.

According to Zacks, “Shares of Reinsurance Group have outperformed the industry in a year. However, the company did not witness any earnings momentum for its 2017 and 2018 estimates in the last 60 days. Nonetheless, 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. Thus it expects operating income per share to grow 5% to 8% 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.”

A number of other brokerages have also commented on RGA. Citigroup set a $171.00 target price on Reinsurance Group of America and gave the company a buy rating in a research report on Tuesday, November 21st. Goldman Sachs Group started coverage on Reinsurance Group of America in a research report on Wednesday, October 18th. They issued a buy rating and a $153.00 target price on the stock. Royal Bank of Canada upped their target price on Reinsurance Group of America and gave the company a market perform rating in a research report on Monday, October 30th. Keefe, Bruyette & Woods reiterated a hold rating and issued a $148.00 target price on shares of Reinsurance Group of America in a research report on Friday, November 10th. Finally, Wells Fargo & Co reiterated a hold rating and issued a $131.00 target price on shares of Reinsurance Group of America in a research report on Thursday, October 26th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $146.88.

Reinsurance Group of America (NYSE RGA) opened at $162.45 on Thursday. 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 0.34. The stock has a market cap of $10,424.44, a PE ratio of 13.37, a PEG ratio of 1.46 and a beta of 0.82.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Thursday, October 26th. The insurance provider reported $3.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.62 by $0.82. Reinsurance Group of America had a net margin of 7.23% and a return on equity of 11.36%. The firm had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the prior year, the company posted $2.46 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. sell-side analysts forecast that Reinsurance Group of America will post 11.07 EPS for the current year.

In other Reinsurance Group of America news, EVP John P. Laughlin, Jr. sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $155.60, for a total value of $77,800.00. Following the sale, the executive vice president now owns 26,777 shares in the company, valued at approximately $4,166,501.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Christine Rose Detrick sold 659 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $149.50, for a total value of $98,520.50. Following the completion of the sale, the director now owns 4,023 shares in the company, valued at approximately $601,438.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,159 shares of company stock worth $326,281. 1.47% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Gotham Asset Management LLC boosted its position in Reinsurance Group of America by 3.2% in the 2nd quarter. Gotham Asset Management LLC now owns 1,794 shares of the insurance provider’s stock worth $230,000 after purchasing an additional 56 shares in the last quarter. Toronto Dominion Bank lifted its position in shares of Reinsurance Group of America by 11.7% during the 2nd quarter. Toronto Dominion Bank now owns 790 shares of the insurance provider’s stock valued at $101,000 after buying an additional 83 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Reinsurance Group of America by 2.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,479 shares of the insurance provider’s stock valued at $575,000 after buying an additional 101 shares in the last quarter. IHT Wealth Management LLC lifted its position in shares of 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 valued at $309,000 after buying an additional 140 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its position in shares of 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 valued at $148,000 after buying an additional 248 shares in the last quarter. Institutional investors and hedge funds own 91.50% 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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