Reinsurance Group of America (NYSE:RGA) Reaches New 1-Year High at $194.20

Reinsurance Group of America, Incorporated (NYSE:RGA) shares hit a new 52-week high on Thursday . The stock traded as high as $194.20 and last traded at $193.79, with a volume of 3473 shares. The stock had previously closed at $193.27.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Wells Fargo & Company increased their price objective on shares of Reinsurance Group of America from $186.00 to $193.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Royal Bank of Canada lifted their price objective on Reinsurance Group of America from $170.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. UBS Group increased their target price on Reinsurance Group of America from $191.00 to $198.00 and gave the company a “buy” rating in a report on Monday, February 5th. Jefferies Financial Group upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating and upped their price objective for the company from $171.00 to $189.00 in a research report on Monday, December 11th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $200.00 price target on shares of Reinsurance Group of America in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $179.00.

Reinsurance Group of America Price Performance

The firm has a market capitalization of $12.72 billion, a price-to-earnings ratio of 14.40 and a beta of 0.88. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.48. The business has a 50-day moving average price of $175.78 and a two-hundred day moving average price of $162.65.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Friday, February 2nd. The insurance provider reported $4.73 EPS for the quarter, beating the consensus estimate of $4.40 by $0.33. Reinsurance Group of America had a return on equity of 16.20% and a net margin of 4.86%. The firm had revenue of $5.01 billion for the quarter, compared to analysts’ expectations of $4.57 billion. During the same period last year, the firm earned $2.99 EPS. The firm’s revenue was up 14.9% compared to the same quarter last year. As a group, research analysts forecast that Reinsurance Group of America, Incorporated will post 19.26 EPS for the current year.

Reinsurance Group of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend was Monday, February 12th. Reinsurance Group of America’s dividend payout ratio is 25.32%.

Insider Buying and Selling at Reinsurance Group of America

In other news, CFO Todd C. Larson sold 2,966 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $182.88, for a total transaction of $542,422.08. Following the transaction, the chief financial officer now directly owns 49,549 shares in the company, valued at approximately $9,061,521.12. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Reinsurance Group of America news, EVP William L. Hutton sold 1,908 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $181.84, for a total value of $346,950.72. Following the completion of the sale, the executive vice president now owns 13,363 shares of the company’s stock, valued at $2,429,927.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Todd C. Larson sold 2,966 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $182.88, for a total value of $542,422.08. Following the completion of the transaction, the chief financial officer now directly owns 49,549 shares in the company, valued at $9,061,521.12. The disclosure for this sale can be found here. Insiders have sold a total of 6,462 shares of company stock valued at $1,162,239 in the last 90 days. 1.31% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Reinsurance Group of America

A number of institutional investors have recently modified their holdings of the company. Picton Mahoney Asset Management boosted its holdings in Reinsurance Group of America by 121.9% in the 3rd quarter. Picton Mahoney Asset Management now owns 122,552 shares of the insurance provider’s stock valued at $17,794,000 after purchasing an additional 67,318 shares during the period. Teachers Retirement System of The State of Kentucky boosted its position in shares of Reinsurance Group of America by 93.8% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 22,655 shares of the insurance provider’s stock valued at $3,289,000 after acquiring an additional 10,968 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Reinsurance Group of America by 231.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 142,322 shares of the insurance provider’s stock valued at $23,025,000 after acquiring an additional 99,406 shares during the period. Amalgamated Bank grew its stake in shares of Reinsurance Group of America by 12.5% in the 3rd quarter. Amalgamated Bank now owns 48,884 shares of the insurance provider’s stock valued at $7,097,000 after purchasing an additional 5,434 shares during the period. Finally, Aspire Private Capital LLC lifted its position in shares of Reinsurance Group of America by 4.8% during the 3rd quarter. Aspire Private Capital LLC now owns 2,246 shares of the insurance provider’s stock worth $326,000 after buying an additional 103 shares during the period. Institutional investors own 95.11% of the company’s stock.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated engages in reinsurance business. The company offers individual and group life and health insurance products, such as term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products; asset-intensive and financial reinsurance products; and other capital motivated solutions.