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

Reinsurance Group of America, Incorporated (NYSE:RGA) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $249.87 and last traded at $249.3080, with a volume of 11874 shares changing hands. The stock had previously closed at $246.08.

Analyst Ratings Changes

RGA has been the subject of several recent analyst reports. Wells Fargo & Company lifted 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 research report on Thursday, July 9th. Piper Sandler lowered their price objective on Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. JPMorgan Chase & Co. increased their price objective on Reinsurance Group of America from $286.00 to $293.00 and gave the company an “overweight” rating in a report on Tuesday. Barclays raised their target price on Reinsurance Group of America from $278.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Finally, Evercore restated an “outperform” rating and set a $267.00 target price on shares of Reinsurance Group of America in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Reinsurance Group of America has a consensus rating of “Moderate Buy” and a consensus price target of $257.11.

Reinsurance Group of America Trading Down 0.5%

The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.41. The company has a fifty day moving average of $227.11 and a two-hundred day moving average of $215.33. The stock has a market capitalization of $16.27 billion, a price-to-earnings ratio of 10.94 and a beta of 0.47.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Thursday, August 6th. The insurance provider reported $8.89 earnings per share for the quarter, beating analysts’ consensus estimates of $6.50 by $2.39. Reinsurance Group of America had a return on equity of 14.78% and a net margin of 5.81%.The firm had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.67 billion. During the same period in the previous year, the business earned $4.72 earnings per share. The company’s revenue for the quarter was up 18.5% compared to the same quarter last year. On average, research analysts expect that Reinsurance Group of America, Incorporated will post 28.26 EPS for the current year.

Reinsurance Group of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be paid a dividend of $0.98 per share. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.6%. Reinsurance Group of America’s dividend payout ratio is 16.34%.

Insider Buying and Selling

In related news, EVP John W. Hayden sold 414 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total transaction of $88,989.30. Following the sale, the executive vice president owned 20,949 shares of the company’s stock, valued at $4,502,987.55. This trade represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Reinsurance Group of America

Several institutional investors have recently added to or reduced their stakes in RGA. Goldman Sachs Group Inc. increased its position in Reinsurance Group of America by 44.3% during the first quarter. Goldman Sachs Group Inc. now owns 221,198 shares of the insurance provider’s stock worth $43,554,000 after purchasing an additional 67,880 shares during the last quarter. Focus Partners Wealth boosted its holdings in shares of Reinsurance Group of America by 121.2% in the 1st quarter. Focus Partners Wealth now owns 2,676 shares of the insurance provider’s stock valued at $527,000 after purchasing an additional 1,466 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings 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 valued at $76,000 after purchasing an additional 58 shares during the last quarter. Gabelli Funds LLC purchased a new stake in shares of Reinsurance Group of America during the 2nd quarter valued at $1,006,000. Finally, Cerity Partners LLC grew its stake in shares of Reinsurance Group of America by 15.5% during the 2nd quarter. Cerity Partners LLC now owns 33,716 shares of the insurance provider’s stock valued at $6,688,000 after buying an additional 4,527 shares during the period. 95.11% of the stock is currently owned by institutional investors and hedge funds.

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.