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Downgrade Alert for Reinsurance Group of America (RGA)

By Nick Russo

Reinsurance Group of America (NYSE:RGA) was downgraded from Overweight to Neutral at JP Morgan today. The stock closed yesterday at $107.00 on volume of 269,000 shares, above average daily volume of 255,000.

Reinsurance Group of America (NYSE:RGA) defies analysts with a current price ($107.00) 11.4% above its average consensus price target of $94.83. The stock should discover initial support at its 50-day moving average (MA) of $94.94 and subsequent support at its 200-day MA of $91.11.

Reinsurance Group of America, Incorporated, through its subsidiaries, provides life reinsurance in North America. The Company also has operations through its branch offices in Argentina, Australia, Barbados, Bermuda, Chile, Hong Kong, Japan, Mexico, South Africa, Taiwan, and the United Kingdom.

Reinsurance Group of America share prices have moved between a 52-week high of $110.89 and a 52-week low of $76.96 and closed yesterday at 39% above that low price at $107.00 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.

SmarTrend recommended that subscribers consider buying shares of Reinsurance Group of America on July 15th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $97.40. Since that recommendation, shares of Reinsurance Group of America have risen 10.2%. We continue to monitor RGA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades reinsurance group of america

Ticker(s): RGA