Reinsurance Group of America Inc (RGA) was Downgraded by Deutsche Bank to ” Hold” according to the research note released today. The brokerage firm has raised the Price Target to $ 112 from a previous price target of $108 . Earlier the firm had a rating of “Buy ” on the company shares. Deutsche Bank advised their investors in a research report released on Oct 19, 2016.
Many Wall Street Analysts have commented on Reinsurance Group of America Inc. Reinsurance Group of America Inc was Initiated by Credit Suisse to “Neutral” on Oct 7, 2016. Reinsurance Group of America Inc was Downgraded by JP Morgan to ” Neutral” on Oct 4, 2016. Company shares were Reiterated by Deutsche Bank on Aug 1, 2016 to “Buy”, Firm has raised the Price Target to $ 108 from a previous price target of $103 .
On the company’s financial health, Reinsurance Group of America Inc reported $2.80 EPS for the quarter, beating the analyst consensus estimate by $ 0.51 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $2.29. The company had revenue of $3039.06 million for the quarter, compared to analysts expectations of $2724.23 million. The company’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.94 EPS.
Reinsurance Group of America Inc opened for trading at $109.83 and hit $110.49 on the upside on Friday, eventually ending the session at $109.85, with a gain of 1.11% or 1.21 points. The heightened volatility saw the trading volume jump to 2,77,964 shares. Company has a market cap of $7,038 M.
In a different news, on Aug 29, 2016, Anna Manning (President) sold 2,015 shares at $105.22 per share price. According to the SEC, on Aug 29, 2016, John W. Hayden (SVP, Controller) sold 1,988 shares at $105.42 per share price. On Aug 11, 2016, Jack B Lay (SEVP) sold 23,743 shares at $100.80 per share price, according to the Form-4 filing with the securities and exchange commission.
Reinsurance Group of America Incorporated (RGA) is an insurance holding company. The Company provides traditional and non-traditional life and health reinsurance. The Company has five geographic-based or function-based segments: U.S. and Latin America; Canada; Europe Middle East and Africa; Asia Pacific and Corporate and Other. The U.S. and Latin America operations are further segmented into traditional and non-traditional businesses. The Companys 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 among others. The Company is primarily engaged in the reinsurance of individual and group coverages for traditional life and health longevity disability asset-intensive and critical illness products and financial reinsurance.