Reinsurance Group of America (NYSE:RGA) Reaches New 12-Month High – Here’s What Happened

Reinsurance Group of America, Incorporated (NYSE:RGA)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $229.44 and last traded at $229.5840, with a volume of 28950 shares changing hands. The stock had previously closed at $224.08.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. UBS Group boosted their price objective on Reinsurance Group of America from $220.00 to $236.00 and gave the stock a “neutral” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price target on Reinsurance Group of America from $264.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Piper Sandler lowered their price target on shares of Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Wall Street Zen raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Evercore restated an “outperform” rating and set a $267.00 price objective on shares of Reinsurance Group of America in a research report on Monday, May 18th. Seven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $254.50.

Reinsurance Group of America Stock Down 1.0%

The firm has a 50-day moving average of $210.62 and a two-hundred day moving average of $208.22. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $14.93 billion, a PE ratio of 12.34 and a beta of 0.47.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, May 7th. The insurance provider reported $6.97 EPS for the quarter, beating analysts’ consensus estimates of $6.03 by $0.94. The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.47 billion. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.The company’s revenue for the quarter was up 23.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.66 earnings per share. Equities research analysts predict that Reinsurance Group of America, Incorporated will post 26.86 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th were issued a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 1.6%. The ex-dividend date was Tuesday, May 19th. Reinsurance Group of America’s payout ratio is 20.15%.

Insider Transactions at Reinsurance Group of America

In other Reinsurance Group of America news, EVP Ronald Herrmann sold 7,000 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $210.58, for a total transaction of $1,474,060.00. Following the completion of the transaction, the executive vice president owned 3,938 shares of the company’s stock, valued at $829,264.04. This trade represents a 64.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP John W. Hayden sold 414 shares of Reinsurance Group of America 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 sale, the executive vice president owned 20,949 shares of the company’s stock, valued at approximately $4,502,987.55. This represents a 1.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.60% of the company’s stock.

Institutional Trading of Reinsurance Group of America

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RGA. WCM Investment Management LLC increased its stake in 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 during the period. State Street Corp grew its holdings in shares of Reinsurance Group of America by 2.8% in the third quarter. State Street Corp now owns 2,346,447 shares of the insurance provider’s stock valued at $450,823,000 after purchasing an additional 64,296 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Reinsurance Group of America by 148.4% in the fourth quarter. AQR Capital Management LLC now owns 1,652,102 shares of the insurance provider’s stock valued at $336,137,000 after purchasing an additional 987,014 shares in the last quarter. Geode Capital Management LLC increased its stake in Reinsurance Group of America by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 1,341,364 shares of the insurance provider’s stock worth $272,966,000 after buying an additional 12,682 shares during the period. Finally, Dimensional Fund Advisors LP increased 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 buying an additional 15,372 shares during the period. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Company Profile

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.