Hannover Rück (OTCMKTS:HVRRY) Upgraded to Buy by Zacks Investment Research

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Zacks Investment Research upgraded shares of Hannover Rück (OTCMKTS:HVRRY) from a hold rating to a buy rating in a research report sent to investors on Monday morning, Zacks.com reports. Zacks Investment Research currently has $93.00 price target on the financial services provider’s stock.

According to Zacks, “Hannover Rueckversicherung AG provides reinsurance services. The Company’s operations are divided into four segments: property and casualty reinsurance, life and health reinsurance, financial reinsurance and specialty insurance. Hannover, through its subsidiaries, transacts all lines of non-life and life/health reinsurance. It offers non-life reinsurance products, including specialty lines comprising aviation and space; credit, surety, and political risks; marine, including offshore energy; and structured reinsurance products, which include insurance-linked securities. Hannover Rueckversicherung AG is based in Hannover, Germany. “

Several other research analysts have also recently commented on HVRRY. Barclays reaffirmed an overweight rating on shares of Hannover Rück in a report on Tuesday, November 24th. Deutsche Bank Aktiengesellschaft upgraded shares of Hannover Rück from a hold rating to a buy rating in a research report on Tuesday, January 5th. JPMorgan Chase & Co. reiterated an overweight rating on shares of Hannover Rück in a research report on Friday, October 16th. Credit Suisse Group upgraded shares of Hannover Rück from a neutral rating to an outperform rating in a research report on Tuesday, September 29th. Finally, Morgan Stanley upgraded shares of Hannover Rück from an equal weight rating to an overweight rating in a research report on Wednesday, December 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $93.00.

Shares of HVRRY opened at $82.01 on Monday. Hannover Rück has a 12 month low of $56.15 and a 12 month high of $104.16. The firm’s 50 day moving average is $81.78 and its 200-day moving average is $82.42. The stock has a market capitalization of $19.78 billion, a PE ratio of 17.83 and a beta of 0.95. The company has a current ratio of 0.19, a quick ratio of 0.20 and a debt-to-equity ratio of 0.30.

Hannover Rück (OTCMKTS:HVRRY) last announced its earnings results on Wednesday, November 4th. The financial services provider reported $1.47 EPS for the quarter. Hannover Rück had a net margin of 4.12% and a return on equity of 8.63%. The company had revenue of $7.71 billion for the quarter. Equities research analysts predict that Hannover Rück will post 4.13 earnings per share for the current fiscal year.

About Hannover Rück

Hannover Rück SE, together with its subsidiaries, provides reinsurance products and services worldwide. It operates through Property & Casualty Reinsurance, and Life & Health Reinsurance segments. The Property & Casualty Reinsurance segment offers specialty lines comprising marine, aviation, facultative and direct business, credit, surety, and political risks reinsurance products; and treaty, catastrophe XL, and structured reinsurance, as well as insurance-linked securities.

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