Citigroup Stock- Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell Cuts Reinsurance Group of America (NYSE:RGA) price Target to $142.00
Reinsurance Group of America (NYSE:RGA) had its price target lowered by investment analysts at Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell from $146.00 to $142.00 in a research report issued on Monday, Fintech Zoom reports. The firm presently has a “buy” rating on the insurance provider’s stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell’s target price points to a potential upside of 23.11% from the company’s previous close.
Several other brokerages also recently commented on RGA. Citigroup increased their price objective on shares of Reinsurance Group of America from $135.00 to $146.00 in a research note on Wednesday, March 31st. JPMorgan Chase & Co. increased their price objective on shares of Reinsurance Group of America from $122.00 to $137.00 and gave the stock a “neutral” rating in a research report on Monday, April 5th. Morgan Stanley raised their price target on shares of Reinsurance Group of America from $122.00 to $125.00 and gave the stock an “underweight” rating in a report on Wednesday, May 19th. Royal Bank of Canada raised their price target on shares of Reinsurance Group of America from $118.00 to $129.00 and gave the stock a “sector perform” rating in a report on Monday, May 10th. Finally, Zacks Investment Research lowered shares of Reinsurance Group of America from a “hold” rating to a “strong sell” rating and set a $109.00 price objective on the stock. in a research note on Wednesday, March 31st. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $125.90.
NYSE:RGA traded up $2.73 on Monday, hitting $115.34. The company had a trading volume of 928 shares, compared to its average volume of 423,806. The stock has a market cap of $7.84 billion, a PE ratio of 12.06 and a beta of 1.22. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.30. The company’s 50 day moving average price is $127.30. Reinsurance Group of America has a 52 week low of $66.99 and a 52 week high of $134.93.
Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, May 6th. The insurance provider reported ($1.24) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.98). The company had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $3.62 billion. Reinsurance Group of America had a net margin of 4.14% and a return on equity of 2.47%. Reinsurance Group of America’s revenue for the quarter was up 28.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.41 EPS. As a group, equities analysts expect that Reinsurance Group of America will post 8.34 earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in RGA. Principal Financial Group Inc. raised its position in Reinsurance Group of America by 357.7% in the fourth quarter. Principal Financial Group Inc. now owns 1,007,960 shares of the insurance provider’s stock worth $116,822,000 after acquiring an additional 787,743 shares during the period. Norges Bank bought a new stake in Reinsurance Group of America in the fourth quarter worth about $83,611,000. SummerHaven Investment Management LLC bought a new stake in Reinsurance Group of America in the fourth quarter worth about $668,000. Bank of New York Mellon Corp raised its position in Reinsurance Group of America by 24.1% in the fourth quarter. Bank of New York Mellon Corp now owns 1,899,748 shares of the insurance provider’s stock worth $220,180,000 after acquiring an additional 369,373 shares during the period. Finally, Rockefeller Capital Management L.P. raised its position in Reinsurance Group of America by 20.8% in the first quarter. Rockefeller Capital Management L.P. now owns 1,636,505 shares of the insurance provider’s stock worth $206,278,000 after acquiring an additional 281,277 shares during the period. 93.33% of the stock is currently owned by institutional investors and hedge funds.
Reinsurance Group of America Company Profile
Reinsurance Group of America, Incorporated engages in reinsurance business. It offers individual and group life and health insurance products, such as term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products; asset-intensive and financial reinsurance products; and other capital motivated solutions.
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Citigroup Stock – Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell Cuts Reinsurance Group of America (NYSE:RGA) price Target to $142.00
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