Reinsurance Group of America (NYSE:RGA) Sets New 12-Month High on Analyst Upgrade

Reinsurance Group of America, Incorporated (NYSE:RGA)’s share price reached a new 52-week high during trading on Monday after Barclays raised their price target on the stock from $250.00 to $255.00. Barclays currently has an overweight rating on the stock. Reinsurance Group of America traded as high as $233.99 and last traded at $233.99, with a volume of 571 shares changing hands. The stock had previously closed at $230.70.

A number of other brokerages have also recently weighed in on RGA. Morgan Stanley lowered their price target on Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. StockNews.com raised Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. 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. Piper Sandler upped their price target on Reinsurance Group of America from $237.00 to $242.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada raised their price objective on Reinsurance Group of America from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Three 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $227.77.

Insider Activity

In other news, EVP William L. Hutton sold 1,209 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $218.97, for a total value of $264,734.73. Following the transaction, the executive vice president now directly owns 12,357 shares of the company’s stock, valued at $2,705,812.29. This represents a 8.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.37% of the stock is owned by corporate insiders.

Institutional Trading of Reinsurance Group of America

Several hedge funds and other institutional investors have recently bought and sold shares of RGA. WCM Investment Management LLC grew its holdings in shares of Reinsurance Group of America by 1,208.5% during the 3rd quarter. WCM Investment Management LLC now owns 2,447,668 shares of the insurance provider’s stock worth $527,742,000 after purchasing an additional 2,260,605 shares in the last quarter. Zurich Insurance Group Ltd FI grew its stake in Reinsurance Group of America by 681.8% during the second quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider’s stock worth $104,244,000 after buying an additional 442,883 shares in the last quarter. Millennium Management LLC increased its holdings in Reinsurance Group of America by 43.8% in the 2nd quarter. Millennium Management LLC now owns 437,266 shares of the insurance provider’s stock valued at $89,758,000 after buying an additional 133,212 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Reinsurance Group of America in the 3rd quarter valued at about $11,803,000. Finally, Earnest Partners LLC lifted its holdings in shares of Reinsurance Group of America by 1.9% during the 2nd quarter. Earnest Partners LLC now owns 2,628,129 shares of the insurance provider’s stock worth $539,476,000 after acquiring an additional 50,228 shares during the period. Institutional investors and hedge funds own 95.11% of the company’s stock.

Reinsurance Group of America Stock Performance

The stock’s fifty day moving average price is $219.35 and its two-hundred day moving average price is $213.14. The company has a market cap of $15.24 billion, a P/E ratio of 21.25 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.17 and a current 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 for the quarter, beating analysts’ consensus estimates of $5.31 by $0.82. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.29 billion. During the same quarter last year, the business posted $5.57 EPS. The company’s revenue was up 9.7% compared to the same quarter last year. As a group, equities analysts predict that Reinsurance Group of America, Incorporated will post 21.93 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend is Friday, November 8th. Reinsurance Group of America’s dividend payout ratio is presently 32.69%.

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.