Reinsurance Group of America, Incorporated (NYSE:RGA) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Reinsurance Group of America, Incorporated (NYSE:RGA) from a hold rating to a buy rating in a research report released on Tuesday, August 1st. Zacks Investment Research currently has $157.00 price target on the insurance provider’s stock.

According to Zacks, “Reinsurance Group continues to benefit from a mix of organic and transactional opportunities. Its niche position in the U.S. and Canadian reinsurance markets and the expansion of its international operations and diversified earnings stream are positives. Moreover, it is poised to benefit from an improving life reinsurance pricing environment. Thus the company expects operating income per share to grow 5% to 8% and operating ROE between 10% and 12% in the intermediate term. However, exposure to foreign exchange volatility, volatile Australian business and evolving capital requirements pose headwinds for the company in near term. Shares of Reinsurance Group underperformed the industry, year to date. Reinsurance Group’s bottom line beat expectation. Traditional business both in the EMEA and Asia-Pacific were strong.  Top-line growth came on improved U.S. mortality claims and robust organic growth across most regions.”

RGA has been the subject of a number of other research reports. Royal Bank Of Canada restated a hold rating and set a $127.00 target price on shares of Reinsurance Group of America, in a report on Friday, April 28th. Wells Fargo & Company restated a hold rating on shares of Reinsurance Group of America, in a report on Friday, April 28th. Jefferies Group LLC lowered their target price on Reinsurance Group of America, from $80.00 to $77.00 and set a hold rating for the company in a report on Monday, May 1st. Finally, Keefe, Bruyette & Woods restated a hold rating and set a $125.00 target price on shares of Reinsurance Group of America, in a report on Thursday, April 6th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Reinsurance Group of America, currently has a consensus rating of Hold and an average target price of $125.89.

Reinsurance Group of America, (RGA) opened at 136.87 on Tuesday. Reinsurance Group of America, has a 52-week low of $101.08 and a 52-week high of $141.89. The company has a market cap of $8.83 billion, a price-to-earnings ratio of 11.66 and a beta of 0.83. The company’s 50-day moving average price is $135.25 and its 200-day moving average price is $129.00.

Reinsurance Group of America, (NYSE:RGA) last posted its earnings results on Thursday, July 27th. The insurance provider reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $0.51. The company had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3 billion. Reinsurance Group of America, had a return on equity of 8.48% and a net margin of 6.33%. Reinsurance Group of America,’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.80 earnings per share. Equities research analysts expect that Reinsurance Group of America, will post $10.21 EPS for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 29th. Stockholders of record on Tuesday, August 8th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Friday, August 4th. This is a positive change from Reinsurance Group of America,’s previous quarterly dividend of $0.41. Reinsurance Group of America,’s dividend payout ratio is currently 17.02%.

In other Reinsurance Group of America, news, EVP Timothy T. Matson acquired 500 shares of the firm’s stock in a transaction dated Wednesday, June 21st. The stock was purchased at an average price of $127.39 per share, for a total transaction of $63,695.00. Following the acquisition, the executive vice president now owns 2,430 shares in the company, valued at approximately $309,557.70. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Alan C. Henderson sold 440 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $139.87, for a total value of $61,542.80. Following the sale, the director now owns 20,418 shares of the company’s stock, valued at approximately $2,855,865.66. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,970 shares of company stock valued at $2,096,360. Company insiders own 1.47% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank increased its position in Reinsurance Group of America, by 11.7% in the second quarter. Toronto Dominion Bank now owns 790 shares of the insurance provider’s stock valued at $101,000 after buying an additional 83 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Reinsurance Group of America, during the second quarter valued at about $256,000. Sterling Capital Management LLC increased its position in Reinsurance Group of America, by 8.5% in the second quarter. Sterling Capital Management LLC now owns 7,263 shares of the insurance provider’s stock valued at $932,000 after buying an additional 572 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in Reinsurance Group of America, by 1.0% in the second quarter. Ameritas Investment Partners Inc. now owns 32,595 shares of the insurance provider’s stock valued at $4,184,000 after buying an additional 330 shares during the last quarter. Finally, Nomura Holdings Inc. purchased a new position in Reinsurance Group of America, during the second quarter valued at about $348,000. 91.20% of the stock is currently owned by hedge funds and other institutional investors.

Reinsurance Group of America, Company Profile

Reinsurance Group of America, Incorporated (RGA) is an insurance holding company. The Company provides traditional life and health reinsurance and financial solutions with operations in the United States, Latin America, Canada, Europe, Africa, Asia and Australia. It has geographic-based and business-based operational segments, including U.S.

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