Reinsurance Group of America (NYSE:RGA) Hits New 1-Year High on Better-Than-Expected Earnings

Shares of Reinsurance Group of America, Incorporated (NYSE:RGA) hit a new 52-week high on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $246.77 and last traded at $240.6670, with a volume of 24518 shares. The stock had previously closed at $236.31.

The insurance provider reported $8.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.50 by $2.39. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.The business had revenue of $6.64 billion during the quarter, compared to the consensus estimate of $6.67 billion. During the same quarter in the previous year, the company posted $4.72 EPS. The business’s revenue was up 18.5% on a year-over-year basis.

Reinsurance Group of America Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a dividend of $0.98 per share. The ex-dividend date is Tuesday, August 18th. 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 1.6%. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 20.15%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on RGA shares. Wall Street Zen raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Piper Sandler lowered their target price on 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 reissued an “overweight” rating and set a $290.00 price target on shares of Reinsurance Group of America in a research report on Friday. TD Cowen upped their price objective on Reinsurance Group of America from $212.00 to $235.00 and gave the company a “hold” rating in a research report on Wednesday, July 22nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Reinsurance Group of America in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $256.33.

Insider Activity at Reinsurance Group of America

In other Reinsurance Group of America news, EVP Ronald Herrmann sold 7,000 shares of Reinsurance Group of America stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $210.58, for a total value of $1,474,060.00. Following the completion of the sale, the executive vice president directly owned 3,938 shares of the company’s stock, valued at approximately $829,264.04. The trade was a 64.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John W. Hayden sold 414 shares of the business’s stock in a transaction 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 completion of the transaction, 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 disclosure for this sale is available in the SEC filing. Corporate insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Reinsurance Group of America

A number of hedge funds and other institutional investors have recently made changes to their positions in RGA. Activest Wealth Management acquired a new stake in Reinsurance Group of America in the 4th quarter worth about $30,000. Tobam increased its stake in shares of Reinsurance Group of America by 244.7% during the 4th quarter. Tobam now owns 162 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 115 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Reinsurance Group of America during the 4th quarter valued at about $35,000. Advisory Services Network LLC purchased a new position in shares of Reinsurance Group of America during the 3rd quarter worth about $38,000. Finally, Entrust Financial LLC acquired a new stake in shares of Reinsurance Group of America in the fourth quarter worth approximately $40,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Trading Up 2.6%

The business’s fifty day moving average is $221.48 and its 200-day moving average is $213.29. The stock has a market capitalization of $15.88 billion, a PE ratio of 13.10 and a beta of 0.47. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.46.

Reinsurance Group of America Company Profile

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.