Reinsurance Group of America (NYSE:RGA) Sets New 52-Week High – Here’s Why

Shares of Reinsurance Group of America, Incorporated (NYSE:RGA) hit a new 52-week high on Monday . The company traded as high as $234.37 and last traded at $234.5520, with a volume of 4662 shares trading hands. The stock had previously closed at $231.16.

Analysts Set New Price Targets

Several equities analysts have issued reports on RGA shares. Wells Fargo & Company lifted their target price on Reinsurance Group of America from $261.00 to $269.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Barclays raised their price target on shares of Reinsurance Group of America from $268.00 to $278.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. UBS Group boosted their price objective on shares of Reinsurance Group of America from $220.00 to $236.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. JPMorgan Chase & Co. increased their target price on shares of Reinsurance Group of America from $264.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Finally, Piper Sandler lowered their target price on shares of Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Seven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Reinsurance Group of America presently has an average rating of “Moderate Buy” and an average target price of $255.50.

Reinsurance Group of America Stock Down 1.7%

The company has a 50-day moving average of $212.43 and a 200-day moving average of $208.99. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $15.33 billion, a price-to-earnings ratio of 12.67 and a beta of 0.47.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, May 7th. The insurance provider reported $6.97 earnings per share for the quarter, topping the consensus estimate of $6.03 by $0.94. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.47 billion. During the same quarter last year, the company earned $5.66 earnings per share. The company’s quarterly revenue was up 23.5% on a year-over-year basis. On average, equities analysts predict that Reinsurance Group of America, Incorporated will post 26.86 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th were paid a $0.93 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $3.72 dividend on an annualized basis and a yield of 1.6%. Reinsurance Group of America’s dividend payout ratio (DPR) is 20.15%.

Insider Buying and Selling

In other Reinsurance Group of America news, EVP John W. Hayden sold 414 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $214.95, for a total value of $88,989.30. Following the completion of the transaction, the executive vice president owned 20,949 shares of the company’s stock, valued at approximately $4,502,987.55. This trade represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Ronald Herrmann sold 7,000 shares of Reinsurance Group of America stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $210.58, for a total transaction of $1,474,060.00. Following the sale, the executive vice president owned 3,938 shares of the company’s stock, valued at $829,264.04. The trade was a 64.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Reinsurance Group of America

Several hedge funds have recently made changes to their positions in the company. Nordea Investment Management AB lifted its holdings in shares of Reinsurance Group of America by 3.8% in the 4th quarter. Nordea Investment Management AB now owns 570,631 shares of the insurance provider’s stock valued at $116,597,000 after buying an additional 20,722 shares during the period. SG Americas Securities LLC boosted its stake in shares of Reinsurance Group of America by 26.5% in the first quarter. SG Americas Securities LLC now owns 89,847 shares of the insurance provider’s stock worth $18,343,000 after buying an additional 18,826 shares during the last quarter. Tudor Investment Corp ET AL grew its holdings in Reinsurance Group of America by 616.3% during the third quarter. Tudor Investment Corp ET AL now owns 60,870 shares of the insurance provider’s stock worth $11,695,000 after acquiring an additional 52,372 shares during the period. PNC Financial Services Group Inc. grew its holdings in Reinsurance Group of America by 34.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 21,293 shares of the insurance provider’s stock worth $4,332,000 after acquiring an additional 5,500 shares during the period. Finally, AIA Group Ltd raised its position in Reinsurance Group of America by 218.5% during the third quarter. AIA Group Ltd now owns 12,072 shares of the insurance provider’s stock valued at $2,319,000 after acquiring an additional 8,282 shares in the last quarter. 95.11% of the stock is owned by institutional investors and hedge funds.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.