Reinsurance Group of America Lowered to Equal Weight at Barclays (RGA)
Reinsurance Group of America (NYSE:RGA) was downgraded by equities research analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Wednesday, Stock Ratings Network reports. They currently have a $81.00 price target on the stock, down from their previous price target of $88.00. Barclays’ target price points to a potential upside of 4.29% from the company’s current price. The analysts noted that the move was a valuation call.
Reinsurance Group of America (NYSE:RGA) traded down 0.39% during mid-day trading on Wednesday, hitting $77.55. 229,738 shares of the company’s stock traded hands. Reinsurance Group of America has a 52 week low of $57.14 and a 52 week high of $81.28. The stock’s 50-day moving average is $78.04 and its 200-day moving average is $74.58. The company has a market cap of $5.490 billion and a price-to-earnings ratio of 13.47.
Reinsurance Group of America (NYSE:RGA) last released its earnings data on Friday, January 31st. The company reported $2.17 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.97 by $0.20. On average, analysts predict that Reinsurance Group of America will post $7.87 earnings per share for the current fiscal year.
Separately, analysts at Zacks reiterated an “outperform” rating on shares of Reinsurance Group of America in a research note on Tuesday, February 4th. They now have a $88.00 price target on the stock. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $81.40.
Reinsurance Group of America, Incorporated (NYSE:RGA) is an insurance holding company.
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