StockNews.com Downgrades Reinsurance Group of America (NYSE:RGA) to Hold

by · The Cerbat Gem

Reinsurance Group of America (NYSE:RGA – Get Free Report) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

A number of other equities analysts also recently issued reports on the stock. Keefe, Bruyette & Woods raised shares of Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, October 3rd. Wells Fargo & Company lifted their price objective on shares of Reinsurance Group of America from $236.00 to $239.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. lifted their price objective on shares of Reinsurance Group of America from $220.00 to $222.00 and gave the company a “neutral” rating in a research report on Thursday, October 3rd. Royal Bank of Canada lifted their price objective on shares of Reinsurance Group of America from $225.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, Barclays reduced their price objective on shares of Reinsurance Group of America from $255.00 to $250.00 and set an “overweight” rating on the stock in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $226.62.

Get Our Latest Report on Reinsurance Group of America

Reinsurance Group of America Trading Down 1.0 %

Shares of NYSE:RGA opened at $214.16 on Wednesday. The company has a market cap of $14.10 billion, a P/E ratio of 16.92 and a beta of 0.91. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.17 and a quick ratio of 0.17. Reinsurance Group of America has a 1 year low of $143.96 and a 1 year high of $227.87. The stock’s fifty day moving average price is $212.59 and its 200-day moving average price is $206.33.

Reinsurance Group of America (NYSE:RGA – Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.94 by $0.54. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. The firm had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $5.07 billion. During the same period in the prior year, the company posted $4.40 earnings per share. The company’s quarterly revenue was up 17.4% on a year-over-year basis. Sell-side analysts expect that Reinsurance Group of America will post 21.7 earnings per share for the current year.

Insider Activity

In related news, EVP William L. Hutton sold 1,209 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $218.97, for a total value of $264,734.73. Following the completion of the sale, the executive vice president now directly owns 12,357 shares of the company’s stock, valued at $2,705,812.29. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.37% of the company’s stock.

Hedge Funds Weigh In On Reinsurance Group of America

A number of large investors have recently added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Reinsurance Group of America by 25.2% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 19,900 shares of the insurance provider’s stock worth $4,333,000 after purchasing an additional 4,000 shares in the last quarter. CWM LLC raised its holdings in Reinsurance Group of America by 65.1% in the third quarter. CWM LLC now owns 2,244 shares of the insurance provider’s stock worth $489,000 after purchasing an additional 885 shares in the last quarter. Atomi Financial Group Inc. bought a new position in Reinsurance Group of America in the third quarter worth about $235,000. Insight Wealth Strategies LLC bought a new position in Reinsurance Group of America in the third quarter worth about $3,548,000. Finally, GAMMA Investing LLC raised its holdings in Reinsurance Group of America by 8.9% in the third quarter. GAMMA Investing LLC now owns 609 shares of the insurance provider’s stock worth $133,000 after purchasing an additional 50 shares in the last quarter. 95.11% of the stock is currently owned by institutional investors.

Reinsurance Group of America Company Profile

(Get Free Report)

Reinsurance Group of America, Incorporated engages in reinsurance business. The company offers individual and group life and health insurance products, such as term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products; asset-intensive and financial reinsurance products; and other capital motivated solutions.

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