Reinsurance Group of America, Incorporated (NYSE:RGA) received a $134.00 price objective from investment analysts at Royal Bank Of Canada in a research note issued to investors on Friday, July 28th. The firm presently has a “hold” rating on the insurance provider’s stock. Royal Bank Of Canada’s price objective suggests a potential downside of 4.60% from the company’s current price.
Other research analysts have also recently issued reports about the company. Zacks Investment Research upgraded Reinsurance Group of America, from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a report on Friday, July 7th. Jefferies Group LLC decreased their price objective on Reinsurance Group of America, from $80.00 to $77.00 and set a “hold” rating on the stock in a report on Monday, May 1st. Wells Fargo & Company restated a “hold” rating on shares of Reinsurance Group of America, in a research note on Friday, April 28th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $125.00 price target on shares of Reinsurance Group of America, in a research note on Thursday, April 6th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $125.89.
Shares of Reinsurance Group of America, (NYSE RGA) opened at 140.46 on Friday. Reinsurance Group of America, has a 52 week low of $100.66 and a 52 week high of $141.89. The company’s 50 day moving average price is $134.78 and its 200-day moving average price is $128.85. The company has a market capitalization of $9.06 billion, a price-to-earnings ratio of 11.97 and a beta of 0.83.
Reinsurance Group of America, (NYSE:RGA) last released its quarterly earnings data on Thursday, July 27th. The insurance provider reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.44 by $0.51. Reinsurance Group of America, had a return on equity of 8.48% and a net margin of 6.33%. The firm had revenue of $3.13 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same period in the prior year, the firm posted $2.80 earnings per share. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. Analysts anticipate that Reinsurance Group of America, will post $10.21 earnings per share for the current fiscal year.
ILLEGAL ACTIVITY WARNING: This story was first reported by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this story on another publication, it was illegally stolen and reposted in violation of US & international copyright legislation. The correct version of this story can be read at https://stocknewstimes.com/2017/08/17/royal-bank-of-canada-analysts-give-reinsurance-group-of-america-incorporated-rga-a-134-00-price-target-updated-updated.html.
In other news, EVP Alain Neemeh sold 7,500 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $139.69, for a total value of $1,047,675.00. Following the sale, the executive vice president now directly owns 43,292 shares in the company, valued at $6,047,459.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Alan C. Henderson sold 440 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $139.87, for a total value of $61,542.80. Following the completion of the sale, the director now owns 20,418 shares in the company, valued at $2,855,865.66. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,029 shares of company stock worth $1,823,125. Insiders own 1.47% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. IHT Wealth Management LLC raised its position in Reinsurance Group of America, by 225.8% in the second 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 during the period. Duncker Streett & Co. Inc. raised its position in Reinsurance Group of America, by 39.8% in the first quarter. Duncker Streett & Co. Inc. now owns 923 shares of the insurance provider’s stock valued at $117,000 after buying an additional 263 shares during the period. Israel Discount Bank of New York acquired a new position in Reinsurance Group of America, during the first quarter valued at approximately $125,000. Acrospire Investment Management LLC raised its position in Reinsurance Group of America, by 66.7% in the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the insurance provider’s stock valued at $128,000 after buying an additional 400 shares during the period. Finally, Creative Planning raised its position in Reinsurance Group of America, by 3.2% in the first quarter. Creative Planning now owns 1,050 shares of the insurance provider’s stock valued at $133,000 after buying an additional 33 shares during the period. Institutional investors and hedge funds own 91.20% of the company’s stock.
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.
Receive News & Ratings for Reinsurance Group of America Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reinsurance Group of America Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.
