Reinsurance Group of America Upgraded to Outperform by Zacks (RGA)
Reinsurance Group of America (NYSE:RGA) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Thursday, ARN reports. The firm currently has a $92.00 price objective on the stock. Zacks‘ target price points to a potential upside of 19.59% from the company’s current price.
Zacks‘ analyst wrote, “We are upgrading our recommendation on Reinsurance Group to Outperform from Neutral prior to its fourth-quarter and full-year 2013 earnings release, reflecting the company’s strong performance for the first nine of 2013. We also believe that the company will benefit from improving operating conditions in 2014. We expect the company to perform well going forward given its niche position in the U.S. and Canada reinsurance markets. Additionally, the company is growing its international operations to reap the benefits of diversification. Reinsurance Group is also poised to benefit from the changing life reinsurance pricing environment. Moreover, rising interest rate expected in 2014 will also aid earnings. A disciplined capital management strategy and strong investment grade ratings are other positives that make us optimistic about the stock. “
A number of other firms have also recently commented on RGA. Analysts at Barclays raised their price target on shares of Reinsurance Group of America from $80.00 to $88.00 in a research note to investors on Tuesday. They now have an “overweight” rating on the stock. Separately, analysts at UBS AG raised their price target on shares of Reinsurance Group of America from $80.00 to $85.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Finally, analysts at UBS AG reiterated a “buy” rating on shares of Reinsurance Group of America in a research note to investors on Tuesday, October 29th. They now have a $80.00 price target on the stock. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Reinsurance Group of America presently has a consensus rating of “Hold” and an average target price of $80.00.
Shares of Reinsurance Group of America (NYSE:RGA) traded down 0.22% during mid-day trading on Thursday, hitting $76.76. 190,613 shares of the company’s stock traded hands. Reinsurance Group of America has a 52 week low of $54.95 and a 52 week high of $77.55. The stock’s 50-day moving average is $75.50 and its 200-day moving average is $70.27. The company has a market cap of $5.418 billion and a P/E ratio of 11.34.
Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.09. During the same quarter last year, the company posted $1.95 earnings per share. On average, analysts predict that Reinsurance Group of America will post $4.74 earnings per share for the current fiscal year.
Reinsurance Group of America, Incorporated (NYSE:RGA) is an insurance holding company.
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