Reinsurance Group of America (NYSE:RGA – Get Rating) issued its quarterly earnings results on Friday. The insurance provider reported $2.99 earnings per share for the quarter, missing the consensus estimate of $3.51 by ($0.52), Briefing.com reports. Reinsurance Group of America had a return on equity of 9.22% and a net margin of 3.54%. The business had revenue of $4.38 billion during the quarter, compared to analysts' expectations of $4.33 billion. During the same quarter in the previous year, the company posted ($0.56) earnings per share. The company's quarterly revenue was up .4% compared to the same quarter last year.
Reinsurance Group of America Trading Down 3.2 %
Shares of RGA traded down $4.74 during mid-day trading on Friday, reaching $141.79. The company had a trading volume of 549,940 shares, compared to its average volume of 381,845. The stock has a market cap of $9.48 billion, a price-to-earnings ratio of 16.20 and a beta of 0.91. The firm has a fifty day simple moving average of $143.52 and a 200-day simple moving average of $134.78. Reinsurance Group of America has a fifty-two week low of $97.61 and a fifty-two week high of $153.35. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 1.12.
Get Reinsurance Group of America alerts:Analyst Ratings Changes
Several brokerages recently issued reports on RGA. The Goldman Sachs Group increased their price objective on Reinsurance Group of America from $147.00 to $162.00 and gave the stock a "buy" rating in a research note on Monday, January 9th. TheStreet upgraded Reinsurance Group of America from a "c+" rating to a "b-" rating in a research note on Thursday, November 3rd. Royal Bank of Canada upgraded Reinsurance Group of America from a "sector perform" rating to an "outperform" rating and lifted their price objective for the stock from $145.00 to $170.00 in a report on Tuesday, December 6th. Credit Suisse Group lifted their price objective on Reinsurance Group of America to $144.00 in a report on Thursday, October 27th. Finally, Barclays boosted their target price on Reinsurance Group of America from $138.00 to $148.00 and gave the stock an "equal weight" rating in a report on Tuesday, November 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $150.89.
Hedge Funds Weigh In On Reinsurance Group of America
Hedge funds have recently made changes to their positions in the stock. Parkside Financial Bank & Trust boosted its holdings in shares of Reinsurance Group of America by 47.8% in the 1st quarter. Parkside Financial Bank & Trust now owns 368 shares of the insurance provider's stock valued at $40,000 after purchasing an additional 119 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Reinsurance Group of America by 57.6% in the 1st quarter. Covestor Ltd now owns 829 shares of the insurance provider's stock valued at $91,000 after purchasing an additional 303 shares during the last quarter. Private Advisor Group LLC boosted its holdings in shares of Reinsurance Group of America by 13.0% in the 1st quarter. Private Advisor Group LLC now owns 2,817 shares of the insurance provider's stock valued at $309,000 after purchasing an additional 324 shares during the last quarter. First Republic Investment Management Inc. boosted its holdings in shares of Reinsurance Group of America by 17.8% in the 1st quarter. First Republic Investment Management Inc. now owns 2,901 shares of the insurance provider's stock valued at $318,000 after purchasing an additional 439 shares during the last quarter. Finally, M&T Bank Corp purchased a new position in shares of Reinsurance Group of America in the 3rd quarter valued at $321,000. Institutional investors and hedge funds own 96.46% of the company's stock.About Reinsurance Group of America
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Reinsurance Group of America, Inc is a holding company, which engages in the provision of traditional and non-traditional life and health reinsurance products. It operates through the following segments: U.S. and Latin America, Canada, Europe, Middle East, and Africa, Asia Pacific, and Corporate and Other.
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