Reinsurance Group of America (NYSE:RGA) Reaches New 12-Month High – Time to Buy?

Reinsurance Group of America, Incorporated (NYSE:RGAGet Free Report) reached a new 52-week high on Monday . The stock traded as high as $244.30 and last traded at $241.0450, with a volume of 353864 shares traded. The stock had previously closed at $241.79.

Analysts Set New Price Targets

RGA has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on Reinsurance Group of America from $270.00 to $286.00 and gave the stock an “overweight” rating in a research report on Tuesday. Piper Sandler cut their price target on shares of Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Barclays boosted their price objective on shares of Reinsurance Group of America from $268.00 to $278.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Wells Fargo & Company upped their price objective on shares of Reinsurance Group of America from $261.00 to $269.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Finally, Evercore reaffirmed an “outperform” rating and issued a $267.00 target price on shares of Reinsurance Group of America in a research report on Monday, May 18th. Seven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $257.50.

Check Out Our Latest Stock Report on Reinsurance Group of America

Reinsurance Group of America Stock Performance

The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.46. The firm has a market cap of $15.65 billion, a P/E ratio of 12.95 and a beta of 0.47. The business has a fifty day simple moving average of $215.17 and a 200-day simple moving average of $210.18.

Reinsurance Group of America (NYSE:RGAGet Free Report) last announced its earnings results on Thursday, May 7th. The insurance provider reported $6.97 EPS for the quarter, beating analysts’ consensus estimates of $6.03 by $0.94. The firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.47 billion. Reinsurance Group of America had a net margin of 4.92% and a return on equity of 13.16%. The company’s quarterly revenue was up 23.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.66 EPS. On average, sell-side analysts predict that Reinsurance Group of America, Incorporated will post 26.86 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

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

Insider Buying and Selling

In related news, EVP Ronald Herrmann sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $210.58, for a total value of $1,474,060.00. Following the sale, the executive vice president owned 3,938 shares in the company, valued at $829,264.04. This represents a 64.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP John W. Hayden sold 414 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president directly 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 position. The disclosure for this sale is available in the SEC filing. Insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Reinsurance Group of America

Several institutional investors and hedge funds have recently modified their holdings of the stock. Principal Securities Inc. increased its position in Reinsurance Group of America by 3.6% in the fourth quarter. Principal Securities Inc. now owns 1,490 shares of the insurance provider’s stock worth $303,000 after purchasing an additional 52 shares during the last quarter. Rehmann Capital Advisory Group lifted its position in Reinsurance Group of America by 1.3% during the third quarter. Rehmann Capital Advisory Group now owns 4,281 shares of the insurance provider’s stock valued at $819,000 after purchasing an additional 54 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in Reinsurance Group of America by 6.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 974 shares of the insurance provider’s stock valued at $198,000 after purchasing an additional 56 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Reinsurance Group of America by 17.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 388 shares of the insurance provider’s stock worth $76,000 after buying an additional 58 shares in the last quarter. Finally, Covestor Ltd grew its stake in shares of Reinsurance Group of America by 12.2% in the 4th quarter. Covestor Ltd now owns 533 shares of the insurance provider’s stock worth $108,000 after buying an additional 58 shares in the last quarter. 95.11% of the stock is currently owned by institutional investors.

Reinsurance Group of America Company Profile

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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.

Further Reading

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