Reinsurance Group of America (NYSE:RGA) Reaches New 1-Year High – What’s Next?

Reinsurance Group of America, Incorporated (NYSE:RGA) hit a new 52-week high on Tuesday. The company traded as high as $268.32 and last traded at $267.0510, with a volume of 405,860 shares changing hands. The stock had previously closed at $266.75.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Reinsurance Group of America in a report on Friday, August 7th. Morgan Stanley raised Reinsurance Group of America from an “equal weight” rating to an “overweight” rating and set a $295.00 price target on the stock in a research report on Monday, September 28th. UBS Group upgraded Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. TD Cowen lifted their price objective on Reinsurance Group of America from $212.00 to $235.00 and gave the company a “hold” rating in a report on Wednesday, July 22nd. Finally, Barclays set a $292.00 price objective on Reinsurance Group of America in a report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $268.33.

Reinsurance Group of America Trading Up 0.1%

The company has a market capitalization of $17.44 billion, a PE ratio of 8.90 and a beta of 0.45. The company’s fifty day moving average is $249.80 and its 200-day moving average is $228.46. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.14 and a quick ratio of 0.14.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, August 6th. The insurance provider reported $8.89 EPS for the quarter, topping analysts’ consensus estimates of $6.50 by $2.39. The company had revenue of $6.64 billion during the quarter, compared to the consensus estimate of $6.67 billion. Reinsurance Group of America had a net margin of 5.81% and a return on equity of 14.78%. Reinsurance Group of America’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.72 earnings per share. On average, analysts anticipate that Reinsurance Group of America, Incorporated will post 29.75 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th were issued a $0.98 dividend. The ex-dividend date was Tuesday, August 18th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.5%. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.93. Reinsurance Group of America’s dividend payout ratio (DPR) is 17.22%.

Insider Activity at Reinsurance Group of America

In other news, EVP Jonathan Porter sold 8,589 shares of the business’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $246.30, for a total value 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. The trade was a 36.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Reinsurance Group of America

Institutional investors have recently added to or reduced their stakes in the stock. SEB Asset Management AB bought a new position in Reinsurance Group of America in the first quarter worth about $81,533,000. Bank of New York Mellon Corp purchased a new stake in shares of Reinsurance Group of America during the second quarter valued at about $82,836,000. Lazard Asset Management LLC boosted its holdings in shares of Reinsurance Group of America by 2,626.6% in the 1st quarter. Lazard Asset Management LLC now owns 195,794 shares of the insurance provider’s stock valued at $39,973,000 after buying an additional 188,613 shares in the last quarter. Wedge Capital Management L L P NC boosted its holdings in shares of Reinsurance Group of America by 965.2% in the 2nd quarter. Wedge Capital Management L L P NC now owns 179,440 shares of the insurance provider’s stock valued at $38,158,000 after buying an additional 162,594 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Reinsurance Group of America in the 3rd quarter valued at about $30,927,000. Institutional investors own 95.11% of the company’s stock.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated (NYSE:RGA) is a global provider of life and health reinsurance. The company works with insurance carriers to help them manage mortality, longevity, morbidity and other insurance risks, while supporting the development and distribution of life and health insurance products.

RGA’s offerings include traditional life reinsurance, including term, whole life and universal life coverage, as well as health reinsurance and financial solutions. Its financial solutions business provides capital management, asset-intensive reinsurance, longevity and other risk-management arrangements designed to help insurers manage their balance sheets and meet changing customer and regulatory needs.

Founded in 1973 as part of General American Life Insurance Company, RGA became an independent public company in 1993.