UBS Group Upgrades Reinsurance Group of America (NYSE:RGA) to Strong-Buy

Reinsurance Group of America (NYSE:RGA) was upgraded by research analysts at UBS Group from a “hold” rating to a “strong-buy” rating in a research report issued on Friday,Zacks.com reports.

Several other equities research analysts have also weighed in on RGA. Wells Fargo & Company lifted their price objective on Reinsurance Group of America from $261.00 to $269.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. JPMorgan Chase & Co. upped their price objective on shares of Reinsurance Group of America from $270.00 to $286.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Reinsurance Group of America in a research report on Wednesday, May 13th. Evercore reiterated an “outperform” rating and issued a $267.00 target price on shares of Reinsurance Group of America in a research note on Monday, May 18th. Finally, Barclays boosted their price target on shares of Reinsurance Group of America from $268.00 to $278.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Reinsurance Group of America presently has an average rating of “Moderate Buy” and a consensus price target of $255.00.

Reinsurance Group of America Trading Up 2.0%

NYSE:RGA opened at $238.93 on Friday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $15.65 billion, a PE ratio of 12.94 and a beta of 0.47. The firm’s 50 day moving average is $216.78 and its 200 day moving average is $210.82. Reinsurance Group of America has a 12 month low of $165.52 and a 12 month high of $245.00.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings data on Thursday, May 7th. The insurance provider reported $6.97 earnings per share for the quarter, beating the consensus estimate of $6.03 by $0.94. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.47 billion. During the same period in the prior year, the company earned $5.66 earnings per share. Reinsurance Group of America’s revenue was up 23.5% compared to the same quarter last year. Sell-side analysts expect that Reinsurance Group of America will post 26.84 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Ronald Herrmann sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $210.58, for a total transaction of $1,474,060.00. Following the sale, the executive vice president owned 3,938 shares of the company’s stock, valued at approximately $829,264.04. This represents a 64.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John W. Hayden sold 414 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total value of $88,989.30. Following the completion of the sale, the executive vice president owned 20,949 shares in the company, valued at $4,502,987.55. This trade represents a 1.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. WCM Investment Management LLC raised its stake in Reinsurance Group of America by 3.0% in the first quarter. WCM Investment Management LLC now owns 2,830,620 shares of the insurance provider’s stock valued at $566,803,000 after purchasing an additional 82,681 shares in the last quarter. State Street Corp grew its stake in Reinsurance Group of America by 2.8% in the 3rd quarter. State Street Corp now owns 2,346,447 shares of the insurance provider’s stock worth $450,823,000 after buying an additional 64,296 shares in the last quarter. AQR Capital Management LLC grew its stake in Reinsurance Group of America by 148.4% in the 4th quarter. AQR Capital Management LLC now owns 1,652,102 shares of the insurance provider’s stock worth $336,137,000 after buying an additional 987,014 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Reinsurance Group of America by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 1,341,364 shares of the insurance provider’s stock worth $272,966,000 after buying an additional 12,682 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Reinsurance Group of America by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,114,998 shares of the insurance provider’s stock worth $227,624,000 after buying an additional 15,372 shares during 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 (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.