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

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

Wall Street Analyst Weigh In

RGA has been the topic of several research analyst reports. Citigroup boosted 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 research report on Tuesday, July 23rd. Wells Fargo & Company boosted their price target on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Royal Bank of Canada boosted their price target on shares of Reinsurance Group of America from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. boosted their price objective on shares of Reinsurance Group of America from $220.00 to $222.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. Finally, Keefe, Bruyette & Woods raised shares of Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, October 3rd. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $227.38.

Reinsurance Group of America Trading Up 3.4 %

The firm’s 50 day moving average price is $217.33 and its 200-day moving average price is $211.96. The stock has a market cap of $15.79 billion, a P/E ratio of 21.30 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.17 and a quick 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.31 by $0.82. The firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.29 billion. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%. The business’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.57 earnings per share. As a group, equities research analysts forecast that Reinsurance Group of America, Incorporated will post 21.93 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

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

Insider Activity

In other news, EVP William L. Hutton sold 1,209 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $218.97, for a total transaction of $264,734.73. Following the completion of the transaction, the executive vice president now directly owns 12,357 shares of the company’s stock, valued at $2,705,812.29. The trade was a 8.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.37% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RGA. Armstrong Advisory Group Inc. purchased a new position in shares of Reinsurance Group of America during the third quarter valued at approximately $25,000. New Covenant Trust Company N.A. purchased a new stake in Reinsurance Group of America during the first quarter valued at approximately $28,000. International Assets Investment Management LLC purchased a new stake in Reinsurance Group of America during the second quarter valued at approximately $28,000. Family Firm Inc. purchased a new stake in Reinsurance Group of America during the second quarter valued at approximately $29,000. Finally, LRI Investments LLC purchased a new stake in Reinsurance Group of America during the first quarter valued at approximately $33,000. 95.11% of the stock is owned by hedge funds and other institutional investors.

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.