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Reinsurance Group (RGA) Surges 4.9%: Is This an Indication of Further Gains?
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Reinsurance Group (RGA - Free Report) shares soared 4.9% in the last trading session to close at $117.87. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 9% loss over the past four weeks.
Reinsurance Group is a leader in the U.S. and Latin American traditional market. It successfully expands its product line with market-leading services, capabilities, expertise and innovation.
Reinsurance Group continues to witness solid premium growth at its segments. Increase in new business activity, higher investments supporting annuity business and an increase in new business volumes of closed longevity business poise it well for growth.
Reinsurance Group is likely to gain from favorable claims experience, the continued growth of Financial Solutions Reinsurance, higher investment income and investment-related gains.
This reinsurance company is expected to post quarterly earnings of $2.70 per share in its upcoming report, which represents a year-over-year change of -32.5%. Revenues are expected to be $4.06 billion, up 0.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Reinsurance Group, the consensus EPS estimate for the quarter has been revised marginally lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on RGA going forward to see if this recent jump can turn into more strength down the road.
Reinsurance Group belongs to the Zacks Insurance - Life Insurance industry. Another stock from the same industry, American Equity Investment (AEL - Free Report) , closed the last trading session 2.8% higher at $37.55. Over the past month, AEL has returned -9.6%.
American Equity's consensus EPS estimate for the upcoming report has changed -4.1% over the past month to $0.93. Compared to the company's year-ago EPS, this represents a change of -5.1%. American Equity currently boasts a Zacks Rank of #3 (Hold).
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Reinsurance Group (RGA) Surges 4.9%: Is This an Indication of Further Gains?
Reinsurance Group (RGA - Free Report) shares soared 4.9% in the last trading session to close at $117.87. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 9% loss over the past four weeks.
Reinsurance Group is a leader in the U.S. and Latin American traditional market. It successfully expands its product line with market-leading services, capabilities, expertise and innovation.
Reinsurance Group continues to witness solid premium growth at its segments. Increase in new business activity, higher investments supporting annuity business and an increase in new business volumes of closed longevity business poise it well for growth.
Reinsurance Group is likely to gain from favorable claims experience, the continued growth of Financial Solutions Reinsurance, higher investment income and investment-related gains.
This reinsurance company is expected to post quarterly earnings of $2.70 per share in its upcoming report, which represents a year-over-year change of -32.5%. Revenues are expected to be $4.06 billion, up 0.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Reinsurance Group, the consensus EPS estimate for the quarter has been revised marginally lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on RGA going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Reinsurance Group belongs to the Zacks Insurance - Life Insurance industry. Another stock from the same industry, American Equity Investment (AEL - Free Report) , closed the last trading session 2.8% higher at $37.55. Over the past month, AEL has returned -9.6%.
American Equity's consensus EPS estimate for the upcoming report has changed -4.1% over the past month to $0.93. Compared to the company's year-ago EPS, this represents a change of -5.1%. American Equity currently boasts a Zacks Rank of #3 (Hold).