Reinsurance Group of America (NYSE:RGA) had its target price cut by stock analysts at Morgan Stanley from $138.00 to $135.00 in a research note issued on Thursday, April 5th. The brokerage currently has an “underweight” rating on the insurance provider’s stock. Morgan Stanley’s price target suggests a potential downside of 13.16% from the stock’s current price.
A number of other research firms also recently commented on RGA. Zacks Investment Research downgraded Reinsurance Group of America from a “buy” rating to a “hold” rating in a report on Tuesday, March 20th. Royal Bank of Canada reissued a “hold” rating and issued a $165.00 target price on shares of Reinsurance Group of America in a research report on Friday, December 8th. Wells Fargo reissued a “market perform” rating and issued a $165.00 target price (up from $160.00) on shares of Reinsurance Group of America in a research report on Wednesday, January 31st. Finally, UBS started coverage on Reinsurance Group of America in a research report on Friday, March 2nd. They issued a “neutral” rating and a $168.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $150.11.
Shares of NYSE RGA opened at $155.45 on Thursday. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.29. Reinsurance Group of America has a 1-year low of $121.93 and a 1-year high of $165.12. The stock has a market cap of $9,850.82, a price-to-earnings ratio of 14.08, a P/E/G ratio of 1.37 and a beta of 0.74.
In other news, Director Alan C. Henderson sold 556 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $148.84, for a total value of $82,755.04. Following the completion of the sale, the director now directly owns 19,862 shares of the company’s stock, valued at approximately $2,956,260.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Arnoud W.A. Boot sold 400 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $155.26, for a total value of $62,104.00. Following the completion of the sale, the director now directly owns 6,357 shares of the company’s stock, valued at $986,987.82. The disclosure for this sale can be found here. 1.47% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors purchased a new position in Reinsurance Group of America in the 4th quarter valued at approximately $116,000. Fieldpoint Private Securities LLC purchased a new position in Reinsurance Group of America during the third quarter worth $113,000. Focused Wealth Management Inc purchased a new position in Reinsurance Group of America during the fourth quarter worth $156,000. Parkside Financial Bank & Trust increased its position in Reinsurance Group of America by 250.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,195 shares of the insurance provider’s stock worth $186,000 after buying an additional 854 shares in the last quarter. Finally, Foster & Motley Inc. purchased a new position in Reinsurance Group of America during the fourth quarter worth $207,000. 93.36% of the stock is owned by hedge funds and other institutional investors.
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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