The stock of Reinsurance Group of America Inc (NYSE:RGA) hit a new 52-week high and has $131.63 target or 7.00% above today’s $123.02 share price. The 6 months bullish chart indicates low risk for the $7.91B company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $131.63 price target is reached, the company will be worth $553.70 million 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 466,951 shares traded hands. Reinsurance Group of America Inc (NYSE:RGA) has risen 27.47% since April 28, 2016 and is uptrending. It has outperformed by 21.54% the S&P500.
Analysts await Reinsurance Group of America Inc (NYSE:RGA) to report earnings on January, 26. They expect $2.50 earnings per share, down 11.97% or $0.34 from last year’s $2.84 per share. RGA’s profit will be $160.75 million for 12.30 P/E if the $2.50 EPS becomes a reality. After $2.46 actual earnings per share reported by Reinsurance Group of America Inc for the previous quarter, Wall Street now forecasts 1.63% EPS growth.
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. Wells Fargo initiated the stock with “Market Perform” rating in Friday, September 23 report. RBC Capital Markets initiated Reinsurance Group of America Inc (NYSE:RGA) on Thursday, April 28 with “Sector Perform” rating. Credit Suisse initiated Reinsurance Group of America Inc (NYSE:RGA) on Friday, October 7 with “Neutral” rating. As per Friday, July 15, the company rating was upgraded by Goldman Sachs. The rating was initiated by Goldman Sachs with “Sell” on Tuesday, November 17. The firm earned “Neutral” rating on Tuesday, October 4 by JP Morgan. The company was initiated on Tuesday, January 5 by Deutsche Bank. The firm has “Neutral” rating given on Wednesday, February 24 by Goldman Sachs. The stock of Reinsurance Group of America Inc (NYSE:RGA) earned “Hold” rating by Deutsche Bank on Wednesday, October 19. The company was maintained on Wednesday, April 6 by Citigroup.
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 turned negative, 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.
Metropolitan Life Ins Com last reported 60,177 shares in the company. Whittier Tru Com Of Nevada holds 5,165 shares or 0.06% of its portfolio. Great West Life Assurance Can has 0.01% invested in the company for 15,901 shares. The Illinois-based Lsv Asset Mgmt has invested 0.12% in Reinsurance Group of America Inc (NYSE:RGA). Gluskin Sheff Associate accumulated 0.14% or 16,879 shares. Rhumbline Advisers reported 100,823 shares or 0.03% of all its holdings. Ig Investment Management Ltd has 0% invested in the company for 8,459 shares. Bbva Compass Fincl Bank Inc has 10,099 shares for 0.07% of their US portfolio. Bluecrest Mngmt accumulated 2,419 shares or 0.01% of the stock. Voya Invest reported 20,961 shares or 0% of all its holdings. Meeder Asset Mgmt has 0.31% invested in the company for 34,322 shares. Bancorporation Of Montreal Can has 667,350 shares for 0.07% of their US portfolio. Pine River Cap Mngmt Limited Partnership accumulated 10,917 shares or 0.01% of the stock. Regions Financial has 19,872 shares for 0.02% of their US portfolio. Skyline Asset Mgmt Ltd Partnership last reported 1.93% of its portfolio in the stock.
Insider Transactions: Since August 5, 2016, the stock had 0 buys, and 6 sales for $6.79 million net activity. Shares for $2.39 million were sold by LAY JACK B. Hayden John W. also sold $209,575 worth of Reinsurance Group of America Inc (NYSE:RGA) shares. $3.13 million worth of shares were sold by WOODRING A GREIG on Friday, August 5. 5,705 shares with value of $614,200 were sold by Neemeh Alain on Tuesday, November 1. Shares for $212,018 were sold by Manning Anna on Friday, August 26. LARSON TODD C also sold $237,225 worth of Reinsurance Group of America Inc (NYSE:RGA) on Friday, August 5.
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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