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

Reinsurance Group of America, Incorporated (NYSE:RGA)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $251.27 and last traded at $252.1080, with a volume of 18530 shares changing hands. The stock had previously closed at $247.72.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RGA. UBS Group upgraded shares of Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. TD Cowen raised their target price on shares of Reinsurance Group of America from $212.00 to $235.00 and gave the company a “hold” rating in a research note on Wednesday, July 22nd. Wells Fargo & Company lifted their price target on shares of Reinsurance Group of America from $269.00 to $291.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of Reinsurance Group of America in a report on Friday, August 7th. Finally, Evercore reiterated an “outperform” rating and set a $267.00 price objective on shares of Reinsurance Group of America in a report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Reinsurance Group of America has a consensus rating of “Moderate Buy” and a consensus target price of $262.56.

Reinsurance Group of America Stock Performance

The stock has a market capitalization of $16.71 billion, a price-to-earnings ratio of 11.24 and a beta of 0.47. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.41. The firm has a 50-day moving average of $237.74 and a 200-day moving average of $219.02.

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 the consensus estimate 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 business had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.67 billion. During the same quarter in the previous year, the business earned $4.72 EPS. The company’s quarterly revenue was up 18.5% compared to the same quarter last year. As a group, sell-side analysts predict that Reinsurance Group of America, Incorporated will post 29.22 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th were given a $0.98 dividend. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.93. This represents a $3.92 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Tuesday, August 18th. Reinsurance Group of America’s payout ratio is currently 17.22%.

Insiders Place Their Bets

In other Reinsurance Group of America news, EVP Jonathan Porter sold 8,589 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $246.30, for a total transaction of $2,115,470.70. Following the completion of the transaction, the executive vice president directly owned 14,885 shares of the company’s stock, valued at approximately $3,666,175.50. This trade represents a 36.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.60% of the company’s stock.

Institutional Trading of Reinsurance Group of America

Hedge funds and other institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System boosted its holdings in Reinsurance Group of America by 21,340.7% in the second quarter. California State Teachers Retirement System now owns 16,194,573 shares of the insurance provider’s stock valued at $3,443,776,000 after purchasing an additional 16,119,041 shares during the last quarter. AQR Capital Management LLC grew its position in Reinsurance Group of America by 148.4% during the 4th quarter. AQR Capital Management LLC now owns 1,652,102 shares of the insurance provider’s stock worth $336,137,000 after purchasing an additional 987,014 shares during the period. Norges Bank purchased a new position in shares of Reinsurance Group of America during the 4th quarter valued at about $173,767,000. Orion Porfolio Solutions LLC raised its stake in shares of Reinsurance Group of America by 6,076.4% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 602,503 shares of the insurance provider’s stock valued at $119,512,000 after buying an additional 592,748 shares during the last quarter. Finally, SEB Asset Management AB acquired a new position in shares of Reinsurance Group of America in the 1st quarter valued at about $81,533,000. 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.