TD Cowen Initiates Coverage on Reinsurance Group of America (NYSE:RGA)

Equities research analysts at TD Cowen began coverage on shares of Reinsurance Group of America (NYSE:RGA) in a research report issued on Wednesday, MarketBeat.com reports. The firm set a “hold” rating and a $235.00 price target on the insurance provider’s stock. TD Cowen’s target price would indicate a potential upside of 9.73% from the company’s previous close.

Several other brokerages have also recently weighed in on RGA. Citigroup lifted their price objective on Reinsurance Group of America from $194.00 to $252.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Jefferies Financial Group upped their price objective on shares of Reinsurance Group of America from $63.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Evercore ISI raised their target price on shares of Reinsurance Group of America from $225.00 to $241.00 and gave the company an “outperform” rating in a report on Wednesday, June 26th. Morgan Stanley cut their price target on shares of Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Finally, Keefe, Bruyette & Woods raised shares of Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, October 3rd. Four analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $226.62.

Reinsurance Group of America Stock Down 1.0 %

RGA opened at $214.16 on Wednesday. The stock has a fifty day moving average of $212.59 and a 200-day moving average of $206.33. The company has a market capitalization of $14.10 billion, a P/E ratio of 16.67 and a beta of 0.91. Reinsurance Group of America has a fifty-two week low of $143.96 and a fifty-two week high of $227.87. 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 issued its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $5.07 billion. During the same quarter in the previous year, the company earned $4.40 EPS. The business’s revenue was up 17.4% on a year-over-year basis. On average, equities analysts expect that Reinsurance Group of America will post 21.72 EPS for the current year.

Insider Transactions at Reinsurance Group of America

In related news, EVP William L. Hutton sold 1,209 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $218.97, for a total value of $264,734.73. Following the completion of the transaction, the executive vice president now owns 12,357 shares in the company, valued at $2,705,812.29. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.37% of the company’s stock.

Institutional Trading of Reinsurance Group of America

A number of institutional investors and hedge funds have recently bought and sold shares of RGA. Earnest Partners LLC grew its position in shares of Reinsurance Group of America by 1.9% in the 2nd quarter. Earnest Partners LLC now owns 2,628,129 shares of the insurance provider’s stock valued at $539,476,000 after buying an additional 50,228 shares during the last quarter. Sei Investments Co. boosted its holdings in Reinsurance Group of America by 5.9% in the second quarter. Sei Investments Co. now owns 825,719 shares of the insurance provider’s stock valued at $169,497,000 after acquiring an additional 45,709 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in Reinsurance Group of America by 2.8% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 584,137 shares of the insurance provider’s stock valued at $112,668,000 after purchasing an additional 15,926 shares during the period. Zurich Insurance Group Ltd FI increased its position in Reinsurance Group of America by 681.8% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider’s stock valued at $104,244,000 after purchasing an additional 442,883 shares during the period. Finally, Millennium Management LLC raised its holdings in Reinsurance Group of America by 43.8% during the 2nd quarter. Millennium Management LLC now owns 437,266 shares of the insurance provider’s stock worth $89,758,000 after purchasing an additional 133,212 shares during the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.

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.