Reinsurance Group of America (NYSE:RGA) Sets New 52-Week High – Here’s Why

Reinsurance Group of America, Incorporated (NYSE:RGA) shares reached a new 52-week high on Monday . The stock traded as high as $239.82 and last traded at $239.82, with a volume of 679 shares traded. The stock had previously closed at $231.95.

Analyst Ratings Changes

RGA has been the subject of several research analyst reports. Royal Bank of Canada boosted their price target on shares of Reinsurance Group of America from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, November 4th. JPMorgan Chase & Co. increased their price target on Reinsurance Group of America from $220.00 to $222.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Piper Sandler lifted their price objective on Reinsurance Group of America from $237.00 to $242.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. TD Cowen initiated coverage on Reinsurance Group of America in a research note on Wednesday, October 9th. They set a “hold” rating and a $235.00 target price for the company. Finally, Morgan Stanley dropped their target price on shares of Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Reinsurance Group of America presently has a consensus rating of “Moderate Buy” and an average price target of $227.38.

Reinsurance Group of America Stock Performance

The company has a market capitalization of $14.97 billion, a price-to-earnings ratio of 20.87 and a beta of 0.92. The stock’s 50 day moving average price is $217.71 and its 200 day moving average price is $212.25. 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 issued its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 EPS for the quarter, beating 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 period in the prior year, the firm posted $5.57 earnings per share. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. Analysts expect that Reinsurance Group of America, Incorporated will post 21.93 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be issued a dividend of $0.89 per share. The ex-dividend date is Friday, November 8th. This represents a $3.56 dividend on an annualized basis and a yield of 1.57%. Reinsurance Group of America’s payout ratio is 32.69%.

Insider Buying and Selling at Reinsurance Group of America

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total transaction of $264,734.73. Following the transaction, the executive vice president now owns 12,357 shares of the company’s stock, valued at $2,705,812.29. The trade was a 8.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.37% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its holdings in Reinsurance Group of America by 22.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 143,178 shares of the insurance provider’s stock valued at $27,617,000 after purchasing an additional 26,306 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Reinsurance Group of America by 50.9% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 7,486 shares of the insurance provider’s stock worth $1,459,000 after buying an additional 2,524 shares during the last quarter. M&G Plc boosted its holdings in shares of Reinsurance Group of America by 5.0% during the 2nd quarter. M&G Plc now owns 85,153 shares of the insurance provider’s stock worth $17,456,000 after buying an additional 4,025 shares during the period. Sanctuary Advisors LLC acquired a new position in Reinsurance Group of America in the 2nd quarter valued at about $1,925,000. Finally, Insight Wealth Strategies LLC bought a new position in Reinsurance Group of America in the 3rd quarter valued at about $3,548,000. 95.11% of the stock is currently owned by institutional investors.

Reinsurance Group of America Company Profile

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.