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

Reinsurance Group of America (NYSE:RGA) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

Several other equities analysts also recently weighed in on the stock. Morgan Stanley decreased their price target on shares of Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Raymond James raised their target price on shares of Reinsurance Group of America from $212.00 to $228.00 and gave the stock a “strong-buy” rating in a research note on Friday, June 14th. Evercore ISI boosted their target price on Reinsurance Group of America from $225.00 to $241.00 and gave the stock an “outperform” rating in a report on Wednesday, June 26th. Royal Bank of Canada increased their price target on Reinsurance Group of America from $225.00 to $235.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Finally, Piper Sandler boosted their price objective on Reinsurance Group of America from $228.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, June 28th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Reinsurance Group of America presently has a consensus rating of “Moderate Buy” and an average target price of $223.33.

Reinsurance Group of America Price Performance

NYSE:RGA opened at $212.20 on Thursday. The stock has a 50 day moving average of $211.40 and a two-hundred day moving average of $200.37. Reinsurance Group of America has a 12 month low of $138.61 and a 12 month high of $227.87. The firm has a market cap of $13.96 billion, a P/E ratio of 16.49 and a beta of 0.91. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.52.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, topping the consensus estimate of $4.94 by $0.54. The firm had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $5.07 billion. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period in the previous year, the business earned $4.40 earnings per share. On average, analysts expect that Reinsurance Group of America will post 21.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Reinsurance Group of America

A number of hedge funds have recently made changes to their positions in RGA. Norges Bank purchased a new position in shares of Reinsurance Group of America during the fourth quarter worth $122,301,000. Junto Capital Management LP acquired a new position in Reinsurance Group of America in the 4th quarter valued at about $92,083,000. Zurich Insurance Group Ltd FI lifted its position in shares of Reinsurance Group of America by 681.8% during the second quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider’s stock worth $104,244,000 after purchasing an additional 442,883 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of Reinsurance Group of America in the fourth quarter valued at approximately $67,177,000. Finally, Corient Private Wealth LLC lifted its holdings in Reinsurance Group of America by 1,965.4% during the 4th quarter. Corient Private Wealth LLC now owns 298,352 shares of the insurance provider’s stock worth $48,267,000 after buying an additional 283,907 shares in the last quarter. Hedge funds and other institutional investors own 95.11% of the company’s stock.

About Reinsurance Group of America

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.