Reinsurance Group of America (NYSE:RGA) Reaches New 52-Week High – What’s Next?

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on RGA. Barclays boosted their price target 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. TD Cowen lifted their price objective 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 boosted their target price 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. 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. Finally, Evercore reaffirmed an “outperform” rating and set a $267.00 price target on shares of Reinsurance Group of America in a report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Reinsurance Group of America presently has an average rating of “Moderate Buy” and a consensus target price of $257.11.

Reinsurance Group of America Stock Up 0.9%

The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.14 and a current ratio of 0.14. The firm has a market capitalization of $16.21 billion, a P/E ratio of 10.91 and a beta of 0.47. The stock has a fifty day moving average price of $225.18 and a two-hundred day moving average price of $214.70.

Reinsurance Group of America (NYSE:RGA) last released 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. Reinsurance Group of America had a net margin of 5.81% and a return on equity of 14.78%. The firm 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 earnings per share. The firm’s revenue was up 18.5% on a year-over-year basis. Research analysts forecast that Reinsurance Group of America, Incorporated will post 27.72 EPS for the current year.

Reinsurance Group of America Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be issued a $0.98 dividend. This is a boost 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 annualized dividend and a dividend yield of 1.6%. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 16.34%.

Insider Buying and Selling at Reinsurance Group of America

In related news, EVP John W. Hayden sold 414 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $214.95, for a total transaction of $88,989.30. Following the completion of the sale, the executive vice president owned 20,949 shares of the company’s stock, valued at $4,502,987.55. This represents a 1.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Reinsurance Group of America

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Activest Wealth Management bought a new position in shares of Reinsurance Group of America during the fourth quarter valued at approximately $30,000. Tobam lifted its holdings in shares of Reinsurance Group of America by 244.7% in the 4th quarter. Tobam now owns 162 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 115 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Reinsurance Group of America in the 4th quarter worth approximately $35,000. Advisory Services Network LLC acquired a new position in Reinsurance Group of America during the 3rd quarter valued at approximately $38,000. Finally, Entrust Financial LLC acquired a new position in Reinsurance Group of America during the 4th quarter valued at approximately $40,000. 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.