In a report released yesterday, Mark Dwelle from RBC Capital maintained a Hold rating on Reinsurance Group (RGA), with a price target of $105.00. The company’s shares closed last Thursday at $90.75.
According to TipRanks.com, Dwelle is a 4-star analyst with an average return of 6.8% and a 60.4% success rate. Dwelle covers the Financial sector, focusing on stocks such as International General Insurance Holdings, American Equity Investment Life, and American International Group.
Currently, the analyst consensus on Reinsurance Group is a Hold with an average price target of $93.14, which is a -0.9% downside from current levels. In a report issued on August 4, Credit Suisse also maintained a Hold rating on the stock with a $85.00 price target.
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Based on Reinsurance Group’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.2 billion and GAAP net loss of $88 million. In comparison, last year the company earned revenue of $3.42 billion and had a net profit of $170 million.
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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. The U.S. and Latin America segment markets traditional life and health reinsurance, reinsurance of asset-intensive products, financial reinsurance, and other capital motivated solutions in the U.S., Mexico, and Brazil. The Canada segment includes operations of RGA Canada, which employs its own underwriting, actuarial, claims, pricing, accounting, systems, marketing, and administrative staff in offices located in Montreal and Toronto. The Europe, Middle East, and Africa segment serves clients from subsidiaries, licensed branch offices, and representative offices primarily located in France, Germany, Ireland, Italy, the Middle East, the Netherlands, Poland, South Africa, Spain, and the United Kingdom. The Asia Pacific segment covers operations in Australia, China, Hong Kong, India, Japan, Malaysia, New Zealand, Singapore, South Korea, and Taiwan. The Corporate and Other segment consists of investment income from unallocated invested assets, investment related gains, and losses and service fees. The company was founded in 1973 and is headquartered in Chesterfield, MO.
