The stock of Reinsurance Group of America Inc (NYSE:RGA) hit a new 52-week high and has $151.56 target or 25.00% above today’s $121.25 share price. The 7 months bullish chart indicates low risk for the $7.80B company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $151.56 price target is reached, the company will be worth $1.95B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 124,967 shares traded hands. Reinsurance Group of America Inc (NYSE:RGA) has risen 24.37% since April 19, 2016 and is uptrending. It has outperformed by 20.51% the S&P500.
Reinsurance Group of America Inc (NYSE:RGA) Ratings Coverage
Out of 7 analysts covering Reinsurance Group of America (NYSE:RGA), 1 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 14% are positive. Reinsurance Group of America has been the topic of 13 analyst reports since November 17, 2015 according to StockzIntelligence Inc. Goldman Sachs upgraded the stock to “Buy” rating in Friday, July 15 report. JP Morgan downgraded the stock to “Neutral” rating in Tuesday, October 4 report. The firm earned “Neutral” rating on Wednesday, February 24 by Goldman Sachs. Deutsche Bank downgraded the shares of RGA in a report on Wednesday, October 19 to “Hold” rating. The company was initiated on Friday, September 23 by Wells Fargo. The rating was initiated by Deutsche Bank with “Buy” on Tuesday, January 5. Citigroup maintained Reinsurance Group of America Inc (NYSE:RGA) rating on Wednesday, April 6. Citigroup has “Neutral” rating and $95 price target. Goldman Sachs initiated Reinsurance Group of America Inc (NYSE:RGA) on Tuesday, November 17 with “Sell” rating. Credit Suisse initiated the stock with “Neutral” rating in Friday, October 7 report. The stock of Reinsurance Group of America Inc (NYSE:RGA) has “Sector Perform” rating given on Thursday, April 28 by RBC Capital Markets.
According to Zacks Investment Research, “Reinsurance Group of America, Inc. is primarily engaged in life reinsurance and international life and disability insurance on a direct and reinsurance basis. In addition, the company provides reinsurance of non-traditional business including asset-intensive products and financial reinsurance.”
Insitutional Activity: The institutional sentiment decreased to 1.04 in Q2 2016. Its down 0.04, from 1.08 in 2016Q1. The ratio dropped, as 19 funds sold all Reinsurance Group of America Inc shares owned while 119 reduced positions. 32 funds bought stakes while 117 increased positions. They now own 57.59 million shares or 8.67% less from 63.05 million shares in 2016Q1.
Bessemer Gru holds 0% or 95 shares in its portfolio. Dean Ltd Liability Com, a Ohio-based fund reported 5,132 shares. D E Shaw And, a New York-based fund reported 28,348 shares. Legacy Private Trust holds 5,080 shares or 0.07% of its portfolio. Parametric Portfolio Ltd Co has 297,275 shares for 0.05% of their US portfolio. The California-based California State Teachers Retirement System has invested 0.03% in Reinsurance Group of America Inc (NYSE:RGA). Rothschild Asset Management accumulated 116,921 shares or 0.2% of the stock. Blackrock Advsr Ltd Com accumulated 0.03% or 323,053 shares. Moreover, Axa has 0% invested in Reinsurance Group of America Inc (NYSE:RGA) for 10,424 shares. Stifel Corp, a Missouri-based fund reported 53,695 shares. Brown Advisory reported 3,433 shares or 0% of all its holdings. Rockefeller Financial Incorporated accumulated 1.25M shares or 2.41% of the stock. M&T State Bank holds 4,846 shares or 0% of its portfolio. Alliancebernstein Lp last reported 0.06% of its portfolio in the stock. Tudor Et Al holds 0.01% of its portfolio in Reinsurance Group of America Inc (NYSE:RGA) for 3,600 shares.
Insider Transactions: Since August 5, 2016, the stock had 0 buys, and 6 insider sales for $6.79 million net activity. The insider WOODRING A GREIG sold $3.13M. Hayden John W. sold $209,575 worth of Reinsurance Group of America Inc (NYSE:RGA) on Monday, August 29. The insider LARSON TODD C sold 2,355 shares worth $237,225. 5,705 shares were sold by Neemeh Alain, worth $614,200. 23,743 Reinsurance Group of America Inc (NYSE:RGA) shares with value of $2.39 million were sold by LAY JACK B. The insider Manning Anna sold $212,018.
Another recent and important Reinsurance Group of America Inc (NYSE:RGA) news was published by Forbes.com which published an article titled: “Ex-Dividend Reminder: Tompkins Financial, Reinsurance Group of America and …” on November 02, 2016.
RGA Company Profile
Reinsurance Group of America, Incorporated (RGA), incorporated on December 31, 1992, is an insurance holding company. The Firm provides traditional and non-traditional life and health reinsurance. The Firm has geographic or function divisions, including U.S. and Latin America; Canada; Europe, Middle East and Africa; Asia Pacific, and Corporate and Other. The Company’s geographic activities are further segmented into traditional and non-traditional businesses. The Company’s subsidiaries include Reinsurance Company of Missouri, Incorporated, RGA Americas Reinsurance Company, Ltd., RGA Reinsurance Company (Barbados) Ltd., RGA International Reinsurance Company Limited and RGA Reinsurance Company of Australia Limited. Traditional reinsurance includes individual and group life and health, disability, and critical illness reinsurance. Non-traditional reinsurance includes longevity reinsurance and asset-intensive reinsurance.
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