Reinsurance Group of America (NYSE:RGA) Hits New 52-Week High – Should You Buy?

Shares of Reinsurance Group of America, Incorporated (NYSE:RGA) reached a new 52-week high during mid-day trading on Tuesday. The stock traded as high as $268.32 and last traded at $267.0510, with a volume of 405,860 shares traded. The stock had previously closed at $266.75.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. UBS Group upgraded Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Reinsurance Group of America in a research report on Friday, August 7th. Morgan Stanley upgraded 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. TD Cowen raised their price objective on Reinsurance Group of America from $235.00 to $250.00 and gave the company a “hold” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. boosted their price objective on Reinsurance Group of America from $293.00 to $297.00 and gave the company an “overweight” rating in a research report on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Reinsurance Group of America currently has an average rating of “Buy” and an average price target of $270.00.

Reinsurance Group of America Trading Up 0.7%

The company’s 50-day moving average price is $250.73 and its 200-day moving average price is $229.36. The firm has a market cap of $17.59 billion, a price-to-earnings ratio of 11.83 and a beta of 0.45. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.41.

Reinsurance Group of America (NYSE:RGA) last released its earnings results 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 business had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.67 billion. During the same quarter in the previous year, the company earned $4.72 earnings per share. The company’s quarterly revenue was up 18.5% on a year-over-year basis. Equities analysts expect that Reinsurance Group of America, Incorporated will post 29.75 EPS for the current fiscal year.

Insider Transactions at Reinsurance Group of America

In related news, EVP Jonathan Porter sold 8,589 shares of Reinsurance Group of America stock in a transaction dated 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 sale, the executive vice president directly owned 14,885 shares in the company, valued at approximately $3,666,175.50. The trade was a 36.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Reinsurance Group of America

A number of hedge funds have recently made changes to their positions in RGA. WCM Investment Management LLC increased its position in shares of Reinsurance Group of America by 3.0% during the first quarter. WCM Investment Management LLC now owns 2,830,620 shares of the insurance provider’s stock worth $566,803,000 after purchasing an additional 82,681 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Reinsurance Group of America by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,114,998 shares of the insurance provider’s stock worth $227,624,000 after purchasing an additional 15,372 shares during the last quarter. Sei Investments Co. boosted its stake in Reinsurance Group of America by 1.0% during the 1st quarter. Sei Investments Co. now owns 837,391 shares of the insurance provider’s stock worth $170,960,000 after purchasing an additional 8,221 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Reinsurance Group of America by 5.1% during the first quarter. First Trust Advisors LP now owns 479,000 shares of the insurance provider’s stock worth $97,793,000 after buying an additional 23,105 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Reinsurance Group of America by 0.6% during the first quarter. Bank of New York Mellon Corp now owns 417,970 shares of the insurance provider’s stock worth $85,333,000 after buying an additional 2,493 shares in the last quarter. Institutional investors and hedge funds 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.