
Brokerage UBS downgrades life and health reinsurer Reinsurance Group of America RGA.N to "neutral" from "buy"; cuts PT to $216 from $250
Cites execution risk on annual capital deployment target as well as on the Equitable Holdings EQH.N deal
Says the recent overhang on shares to persist over the near term as management executes its newer, more aggressive growth strategy
"Reliance on 3rd party capital to meet EPS growth can be seen as "stretching" for a global reinsurance franchise historically known for its conservativism," says brokerage
Nine of 12 brokerages rate stock "buy" or higher, and 3 "hold"; median PT is $250 — LSEG data
Including session moves, RGA stock down ~6.7% YTD, compared to a 4.2% decline in the S&P 500 .SPX