Reinsurance Group of America (NYSE:RGA) Downgraded by StockNews.com

Reinsurance Group of America (NYSE:RGA) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

Several other equities research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of Reinsurance Group of America from $220.00 to $222.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. Piper Sandler lifted their price target on Reinsurance Group of America from $237.00 to $242.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Evercore ISI lifted their price target 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. Jefferies Financial Group lifted their price target on Reinsurance Group of America from $63.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, Citigroup lifted their price target on Reinsurance Group of America from $194.00 to $252.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $226.62.

Reinsurance Group of America Price Performance

Reinsurance Group of America stock opened at $214.16 on Wednesday. The company’s fifty day moving average price is $212.59 and its 200 day moving average price is $206.33. Reinsurance Group of America has a 1 year low of $143.96 and a 1 year high of $227.87. The stock has a market capitalization of $14.10 billion, a P/E ratio of 16.92 and a beta of 0.91. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.17 and a current ratio of 0.17.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.94 by $0.54. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The firm had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same quarter last year, the company earned $4.40 EPS. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Reinsurance Group of America will post 21.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP William L. Hutton sold 1,209 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $218.97, for a total transaction of $264,734.73. Following the completion of the transaction, the executive vice president now directly owns 12,357 shares of the company’s stock, valued at approximately $2,705,812.29. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.37% of the company’s stock.

Hedge Funds Weigh In On Reinsurance Group of America

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Shell Asset Management Co. boosted its holdings in Reinsurance Group of America by 67.5% in the fourth quarter. Shell Asset Management Co. now owns 4,937 shares of the insurance provider’s stock valued at $799,000 after purchasing an additional 1,989 shares in the last quarter. LM Advisors LLC purchased a new stake in shares of Reinsurance Group of America during the fourth quarter worth approximately $253,000. Occudo Quantitative Strategies LP raised its stake in shares of Reinsurance Group of America by 251.1% during the fourth quarter. Occudo Quantitative Strategies LP now owns 24,860 shares of the insurance provider’s stock worth $4,022,000 after purchasing an additional 17,779 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Reinsurance Group of America during the fourth quarter worth approximately $304,000. Finally, Virtu Financial LLC purchased a new stake in shares of Reinsurance Group of America during the fourth quarter worth approximately $393,000. 95.11% of the stock is owned by institutional investors and hedge funds.

Reinsurance Group of America Company Profile

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.