Reinsurance Group of America (NYSE:RGA) Sets New 1-Year High After Analyst Upgrade

Reinsurance Group of America, Incorporated (NYSE:RGA)’s stock price reached a new 52-week high on Monday after Barclays raised their price target on the stock from $250.00 to $255.00. Barclays currently has an overweight rating on the stock. Reinsurance Group of America traded as high as $233.99 and last traded at $233.99, with a volume of 571 shares traded. The stock had previously closed at $230.70.

A number of other equities research analysts have also weighed in on the stock. Keefe, Bruyette & Woods upgraded shares of Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, October 3rd. Morgan Stanley cut their price target on shares of Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. TD Cowen began coverage on Reinsurance Group of America in a research note on Wednesday, October 9th. They set a “hold” rating and a $235.00 price objective on the stock. StockNews.com raised Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada raised their price target on Reinsurance Group of America from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Reinsurance Group of America presently has an average rating of “Moderate Buy” and a consensus price target of $227.77.

Insider Activity

In other news, EVP William L. Hutton sold 1,209 shares of Reinsurance Group of America stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $218.97, for a total transaction of $264,734.73. Following the sale, the executive vice president now owns 12,357 shares of the company’s stock, valued at approximately $2,705,812.29. The trade was a 8.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.37% of the company’s stock.

Institutional Trading of Reinsurance Group of America

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Armstrong Advisory Group Inc. purchased a new position in shares of Reinsurance Group of America during the 3rd quarter worth approximately $25,000. International Assets Investment Management LLC bought a new position in shares of Reinsurance Group of America in the 2nd quarter worth about $28,000. Family Firm Inc. purchased a new position in shares of Reinsurance Group of America during the second quarter valued at approximately $29,000. New Covenant Trust Company N.A. purchased a new stake in shares of Reinsurance Group of America in the first quarter worth $28,000. Finally, Private Trust Co. NA raised its position in shares of Reinsurance Group of America by 333.3% in the 3rd quarter. Private Trust Co. NA now owns 156 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 120 shares during the last quarter. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Reinsurance Group of America Trading Up 1.4 %

The stock’s 50 day moving average is $219.09 and its 200-day moving average is $212.96. The company has a market cap of $15.41 billion, a P/E ratio of 21.18 and a beta of 0.92. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.45.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share for the quarter, topping the consensus estimate of $5.31 by $0.82. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The firm had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.29 billion. During the same quarter in the previous year, the business earned $5.57 earnings per share. The company’s revenue was up 9.7% on a year-over-year basis. Research analysts anticipate that Reinsurance Group of America, Incorporated will post 21.93 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.89 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.56 annualized dividend and a dividend yield of 1.52%. Reinsurance Group of America’s payout ratio is 32.69%.

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.