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

Wells Fargo & Co reissued their market perform rating on shares of Reinsurance Group of America (NYSE:RGA) in a research report report published on Tuesday morning, The Fly reports. They currently have a $160.00 price target on the insurance provider’s stock, up from their previous price target of $150.00.

RGA has been the topic of several other research reports. Royal Bank of Canada reaffirmed a hold rating and set a $165.00 target price on shares of Reinsurance Group of America in a research note on Friday, December 8th. Zacks Investment Research raised Reinsurance Group of America from a hold rating to a buy rating and set a $174.00 target price on the stock in a research note on Thursday, January 4th. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $148.00 target price on shares of Reinsurance Group of America in a research note on Friday, November 10th. Citigroup set a $171.00 target price on Reinsurance Group of America and gave the company a buy rating in a research note on Tuesday, November 21st. Finally, Goldman Sachs Group initiated coverage on Reinsurance Group of America in a research note on Wednesday, October 18th. They set a buy rating and a $153.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $146.88.

Reinsurance Group of America (RGA) traded up $0.32 during trading hours on Tuesday, reaching $163.98. The company’s stock had a trading volume of 240,112 shares, 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 52 week low of $121.93 and a 52 week high of $165.12. The stock has a market cap 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 released its earnings results on Thursday, October 26th. The insurance provider reported $3.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.62 by $0.82. Reinsurance Group of America had a return on equity of 9.32% and a net margin of 6.44%. The company had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the previous year, the business posted $2.46 EPS. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. sell-side analysts forecast that Reinsurance Group of America will post 11.07 EPS for the current year.

In related news, EVP John P. Laughlin, Jr. sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $149.96, for a total value of $149,960.00. Following the completion of the sale, the executive vice president now owns 27,277 shares of the company’s stock, valued at approximately $4,090,458.92. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Christine Rose Detrick sold 659 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were 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 directly owns 4,023 shares of the company’s stock, valued at approximately $601,438.50. The disclosure for this sale can be found here. In the last three months, insiders sold 2,159 shares of company stock valued at $326,281. 1.76% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Trillium Asset Management LLC grew its stake in shares of Reinsurance Group of America by 0.8% in the 3rd quarter. Trillium Asset Management LLC now owns 142,795 shares of the insurance provider’s stock valued at $19,924,000 after buying an additional 1,135 shares in the last quarter. Invictus RG bought a new stake in shares of Reinsurance Group of America in the 3rd quarter valued at approximately $271,000. Capital Fund Management S.A. grew its stake in shares of Reinsurance Group of America by 54.0% in the 2nd quarter. Capital Fund Management S.A. now owns 21,400 shares of the insurance provider’s stock valued at $2,748,000 after buying an additional 7,500 shares in the last quarter. Swiss National Bank grew its stake in shares of Reinsurance Group of America by 1.2% in the 3rd quarter. Swiss National Bank now owns 237,100 shares of the insurance provider’s stock valued at $33,083,000 after buying an additional 2,900 shares in the last quarter. Finally, GSA Capital Partners LLP grew its stake in shares of Reinsurance Group of America by 33.2% in the 2nd quarter. GSA Capital Partners LLP now owns 10,399 shares of the insurance provider’s stock valued at $1,335,000 after buying an additional 2,594 shares in the last quarter. 91.49% of the stock is owned by institutional investors and hedge funds.

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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.

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