Reinsurance Group of America (NYSE:RGA) Sees Large Volume Increase

Shares of Reinsurance Group of America, Incorporated (NYSE:RGA) saw unusually-strong trading volume on Tuesday . Approximately 347,923 shares changed hands during trading, a decline of 0% from the previous session’s volume of 348,172 shares.The stock last traded at $214.50 and had previously closed at $214.52.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $225.00 price target on shares of Reinsurance Group of America in a report on Friday, June 14th. Raymond James increased their price target on Reinsurance Group of America from $212.00 to $228.00 and gave the stock a “strong-buy” rating in a report on Friday, June 14th. Piper Sandler raised their price target on Reinsurance Group of America from $228.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, June 28th. Wells Fargo & Company boosted their price objective on Reinsurance Group of America from $210.00 to $227.00 and gave the company an “overweight” rating in a research report on Friday, May 10th. Finally, Jefferies Financial Group increased their target price on Reinsurance Group of America from $63.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Reinsurance Group of America currently has a consensus rating of “Moderate Buy” and an average price target of $207.45.

Reinsurance Group of America Stock Performance

The firm has a market cap of $14.16 billion, a price-to-earnings ratio of 16.72 and a beta of 0.92. The stock has a 50-day moving average of $207.47 and a 200-day moving average of $189.17. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.19 and a current ratio of 0.19.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Friday, May 3rd. The insurance provider reported $6.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.55 by $1.47. Reinsurance Group of America had a net margin of 4.16% and a return on equity of 15.94%. The company had revenue of $6.34 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same period last year, the company earned $5.16 earnings per share. As a group, analysts anticipate that Reinsurance Group of America, Incorporated will post 21.11 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Monday, May 13th. This represents a $3.40 annualized dividend and a yield of 1.58%. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 26.42%.

Insider Activity

In related news, EVP John W. Hayden sold 1,767 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $206.85, for a total transaction of $365,503.95. Following the sale, the executive vice president now owns 16,490 shares in the company, valued at $3,410,956.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.37% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RGA. Envestnet Portfolio Solutions Inc. lifted its stake in Reinsurance Group of America by 4.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 24,906 shares of the insurance provider’s stock valued at $5,113,000 after purchasing an additional 1,004 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Reinsurance Group of America by 9.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,701 shares of the insurance provider’s stock valued at $760,000 after buying an additional 307 shares during the period. Diversified Trust Co lifted its position in shares of Reinsurance Group of America by 5.0% in the second quarter. Diversified Trust Co now owns 3,104 shares of the insurance provider’s stock valued at $637,000 after buying an additional 148 shares during the last quarter. M&G Plc boosted its stake in shares of Reinsurance Group of America by 5.0% during the 2nd quarter. M&G Plc now owns 85,153 shares of the insurance provider’s stock worth $17,456,000 after acquiring an additional 4,025 shares during the period. Finally, Wedmont Private Capital increased its holdings in shares of Reinsurance Group of America by 34.1% during the 2nd quarter. Wedmont Private Capital now owns 2,493 shares of the insurance provider’s stock worth $530,000 after acquiring an additional 634 shares during the last quarter. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Company Profile

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.