Barclays Raises Estimates on Reinsurance Group of America (RGA); Accretive Deal with John Hancock

July 3, 2012 12:40 PM EDT
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Price: $123.84 -0.92%

Rating Summary:
    1 Buy, 14 Hold, 1 Sell

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    Up: 35 | Down: 31 | New: 9
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Barclays maintains an 'Overweight' on Reinsurance Group of America (NYSE: RGA) price target of $70.00.

Analyst, Sarah DeWitt, raises FY12 EPS estimate from $7.05 to $7.25 and FY13 from $7.75 to $8.00. DeWitt is positive on the company's recent agreement to reinsure the majority of John Hancock's fixed annuity business (approx. $5.4bln). The deal is supposed to be immediately accretive to RGA. The company should continue to benefit from positive exposure in the marketplace.

For an analyst ratings summary and ratings history on Reinsurance Group of America click here. For more ratings news on Reinsurance Group of America click here.

Shares of Reinsurance Group of America closed at $54.65 yesterday.

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