Reinsurance Group of America (NYSE:RGA) Rating Lowered to “Hold” at Wall Street Zen

Reinsurance Group of America (NYSE:RGA) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Several other equities research analysts have also recently issued reports on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $263.00 price target on shares of Reinsurance Group of America in a research note on Friday, February 6th. TD Cowen reaffirmed a “hold” rating on shares of Reinsurance Group of America in a research note on Wednesday, January 28th. Barclays raised their target price on shares of Reinsurance Group of America from $245.00 to $256.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. UBS Group raised their target price on shares of Reinsurance Group of America from $216.00 to $220.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Wells Fargo & Company raised their target price on shares of Reinsurance Group of America from $238.00 to $261.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $246.71.

Reinsurance Group of America Price Performance

Reinsurance Group of America stock opened at $205.08 on Friday. Reinsurance Group of America has a 12-month low of $165.52 and a 12-month high of $229.21. The stock has a market capitalization of $13.43 billion, a P/E ratio of 11.55 and a beta of 0.52. The firm’s 50-day moving average is $210.28 and its two-hundred day moving average is $200.16. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.14 and a quick ratio of 0.14.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results on Thursday, February 5th. The insurance provider reported $7.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.86 by $1.89. Reinsurance Group of America had a net margin of 4.99% and a return on equity of 12.99%. The company had revenue of $6.64 billion for the quarter, compared to analysts’ expectations of $6.25 billion. During the same period last year, the company earned $4.99 EPS. The firm’s revenue for the quarter was up 26.6% compared to the same quarter last year. Equities analysts predict that Reinsurance Group of America will post 22.9 earnings per share for the current year.

Institutional Investors Weigh In On Reinsurance Group of America

Hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its holdings in Reinsurance Group of America by 44.3% in the first quarter. Goldman Sachs Group Inc. now owns 221,198 shares of the insurance provider’s stock valued at $43,554,000 after buying an additional 67,880 shares during the period. Focus Partners Wealth lifted its holdings in shares of Reinsurance Group of America by 121.2% during the 1st quarter. Focus Partners Wealth now owns 2,676 shares of the insurance provider’s stock valued at $527,000 after acquiring an additional 1,466 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in Reinsurance Group of America by 17.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 388 shares of the insurance provider’s stock worth $76,000 after purchasing an additional 58 shares during the period. Gabelli Funds LLC purchased a new stake in Reinsurance Group of America during the 2nd quarter worth $1,006,000. Finally, Cerity Partners LLC boosted its position in Reinsurance Group of America by 15.5% during the 2nd quarter. Cerity Partners LLC now owns 33,716 shares of the insurance provider’s stock worth $6,688,000 after purchasing an additional 4,527 shares during the period. 95.11% of the stock is owned by institutional investors and hedge funds.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.