Reinsurance Group of America (NYSE:RGA) Sets New 1-Year High – Here’s Why

Reinsurance Group of America, Incorporated (NYSE:RGA) shares reached a new 52-week high during trading on Monday . The stock traded as high as $239.82 and last traded at $239.82, with a volume of 679 shares. The stock had previously closed at $231.95.

Analysts Set New Price Targets

Several research analysts have commented on the stock. StockNews.com raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Raymond James raised their price target on shares of Reinsurance Group of America from $228.00 to $250.00 and gave the company a “strong-buy” rating in a report on Tuesday, September 24th. Barclays cut their price target on shares of Reinsurance Group of America from $255.00 to $250.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. Citigroup raised their price target on shares of Reinsurance Group of America from $194.00 to $252.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Morgan Stanley cut their price target on shares of Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $227.38.

Reinsurance Group of America Stock Performance

The company has a market cap of $15.79 billion, a PE ratio of 21.30 and a beta of 0.92. The business’s 50-day moving average is $217.33 and its 200 day moving average is $211.96. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.17 and a current ratio of 0.17.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Thursday, October 31st. The insurance provider reported $6.13 EPS for the quarter, topping analysts’ consensus estimates of $5.31 by $0.82. The company had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.29 billion. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the company earned $5.57 EPS. On average, equities research analysts predict that Reinsurance Group of America, Incorporated will post 21.93 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Friday, November 8th. Reinsurance Group of America’s payout ratio is presently 32.69%.

Insider Buying and Selling

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $218.97, for a total value of $264,734.73. Following the transaction, the executive vice president now owns 12,357 shares in the company, valued at approximately $2,705,812.29. The trade was a 8.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.37% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Reinsurance Group of America

Hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in shares of Reinsurance Group of America by 22.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 143,178 shares of the insurance provider’s stock valued at $27,617,000 after acquiring an additional 26,306 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Reinsurance Group of America by 50.9% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 7,486 shares of the insurance provider’s stock valued at $1,459,000 after acquiring an additional 2,524 shares during the period. M&G Plc increased its position in shares of Reinsurance Group of America by 5.0% during the second quarter. M&G Plc now owns 85,153 shares of the insurance provider’s stock valued at $17,456,000 after buying an additional 4,025 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of Reinsurance Group of America during the second quarter valued at about $1,925,000. Finally, Insight Wealth Strategies LLC purchased a new position in shares of Reinsurance Group of America during the third quarter valued at about $3,548,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated engages in reinsurance business. The company offers individual and group life and health insurance products, such as term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products; asset-intensive and financial reinsurance products; and other capital motivated solutions.