Reinsurance Group of America, Incorporated (NYSE:RGA – Get Free Report)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $229.44 and last traded at $229.5840, with a volume of 28950 shares changing hands. The stock had previously closed at $224.08.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the company. Evercore reissued an “outperform” rating and issued a $267.00 price objective on shares of Reinsurance Group of America in a research note on Monday, May 18th. Barclays boosted their target price on shares of Reinsurance Group of America from $268.00 to $278.00 and gave the stock an “overweight” rating in a research note on Tuesday. Weiss Ratings reissued a “buy (b)” rating on shares of Reinsurance Group of America in a report on Wednesday, May 13th. JPMorgan Chase & Co. upped their price objective on Reinsurance Group of America from $264.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Finally, UBS Group boosted their target price on Reinsurance Group of America from $216.00 to $220.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $252.50.
Check Out Our Latest Research Report on Reinsurance Group of America
Reinsurance Group of America Stock Performance
Reinsurance Group of America (NYSE:RGA – Get Free Report) last issued its earnings results on Thursday, May 7th. The insurance provider reported $6.97 EPS for the quarter, beating the consensus estimate of $6.03 by $0.94. Reinsurance Group of America had a net margin of 4.92% and a return on equity of 13.16%. The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.47 billion. During the same quarter in the prior year, the firm earned $5.66 earnings per share. The business’s quarterly revenue was up 23.5% on a year-over-year basis. Equities analysts expect that Reinsurance Group of America, Incorporated will post 26.88 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. Shareholders of record on Tuesday, May 19th were issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 1.6%. The ex-dividend date was Tuesday, May 19th. Reinsurance Group of America’s dividend payout ratio (DPR) is 20.15%.
Insider Activity at Reinsurance Group of America
In related news, EVP John W. Hayden sold 414 shares of the company’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 directly owned 20,949 shares of the company’s stock, valued at approximately $4,502,987.55. This represents a 1.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ronald Herrmann sold 7,000 shares of Reinsurance Group of America stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $210.58, for a total value of $1,474,060.00. Following the completion of the sale, the executive vice president directly owned 3,938 shares in the company, valued at $829,264.04. This represents a 64.00% decrease in their position. The SEC filing for this sale provides additional information. 0.60% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Reinsurance Group of America
A number of large investors have recently bought and sold shares of RGA. Activest Wealth Management acquired a new stake in shares of Reinsurance Group of America in the fourth quarter valued at approximately $30,000. Tobam grew its position in Reinsurance Group of America by 244.7% in the fourth quarter. Tobam now owns 162 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 115 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Reinsurance Group of America in the 4th quarter valued at $35,000. Advisory Services Network LLC bought a new stake in Reinsurance Group of America during the 3rd quarter worth about $38,000. Finally, Entrust Financial LLC bought a new position in shares of Reinsurance Group of America in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 95.11% of the company’s stock.
About Reinsurance Group of America
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.
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