Reinsurance Group of America (NYSE:RGA) had its price objective lifted by Morgan Stanley from $142.00 to $144.00 in a report issued on Wednesday morning, Stock Target Advisor reports. The firm currently has an underweight rating on the insurance provider’s stock.
Other analysts have also recently issued research reports about the company. UBS Group upped their price target on Verisk Analytics from $106.00 to $111.00 and gave the stock a sell rating in a research report on Tuesday, April 9th. ValuEngine upgraded Zynerba Pharmaceuticals from a hold rating to a buy rating in a research report on Friday, May 17th. Finally, Zacks Investment Research upgraded IMI PLC/S from a sell rating to a hold rating in a research report on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $143.83.
RGA traded down $0.32 during midday trading on Wednesday, reaching $157.98. The company had a trading volume of 160,744 shares, compared to its average volume of 303,949. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.29. The company’s 50-day moving average price is $152.87. The firm has a market capitalization of $9.93 billion, a P/E ratio of 13.03 and a beta of 0.67. Reinsurance Group of America has a 1 year low of $127.84 and a 1 year high of $159.54.
Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Monday, April 29th. The insurance provider reported $2.61 EPS for the quarter, missing analysts’ consensus estimates of $2.63 by ($0.02). The company had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.34 billion. Reinsurance Group of America had a return on equity of 9.64% and a net margin of 5.98%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.61 EPS. Research analysts forecast that Reinsurance Group of America will post 13.15 EPS for the current fiscal year.
In other Reinsurance Group of America news, EVP John P. Laughlin, Jr. sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $156.81, for a total transaction of $470,430.00. Following the completion of the transaction, the executive vice president now owns 35,097 shares in the company, valued at approximately $5,503,560.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alain Neemeh sold 3,668 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $148.00, for a total value of $542,864.00. Following the transaction, the executive vice president now owns 37,492 shares of the company’s stock, valued at approximately $5,548,816. The disclosure for this sale can be found here. Company insiders own 0.78% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RGA. Norges Bank purchased a new position in Reinsurance Group of America during the 4th quarter valued at approximately $78,120,000. BlackRock Inc. lifted its stake in shares of Reinsurance Group of America by 2.1% in the 1st quarter. BlackRock Inc. now owns 6,081,678 shares of the insurance provider’s stock valued at $863,478,000 after purchasing an additional 125,888 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of Reinsurance Group of America by 499.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 115,981 shares of the insurance provider’s stock valued at $16,467,000 after purchasing an additional 96,638 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Reinsurance Group of America by 68.6% in the 1st quarter. Acadian Asset Management LLC now owns 204,239 shares of the insurance provider’s stock valued at $29,000,000 after purchasing an additional 83,104 shares during the last quarter. Finally, Hancock Whitney Corp lifted its stake in shares of Reinsurance Group of America by 364.1% in the 4th quarter. Hancock Whitney Corp now owns 83,564 shares of the insurance provider’s stock valued at $11,719,000 after purchasing an additional 65,560 shares during the last quarter. Institutional investors and hedge funds own 91.95% of the company’s stock.
About Reinsurance Group of America
Reinsurance Group of America, Incorporated engages in reinsurance business. It offers individual and group life and health insurance products, including term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products, as well as asset-intensive and financial reinsurance products.
Further Reading: What Does a Sell-Side Analyst Rating Mean?
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