Reinsurance Group of America (NYSE:RGA) Hits New 1-Year High – What’s Next?

Reinsurance Group of America, Incorporated (NYSE:RGA)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $244.30 and last traded at $241.0450, with a volume of 353864 shares. The stock had previously closed at $241.79.

Analyst Upgrades and Downgrades

RGA has been the topic of a number of recent analyst reports. Barclays lifted their price objective on shares of Reinsurance Group of America from $268.00 to $278.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. increased their price objective on Reinsurance Group of America from $264.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Piper Sandler dropped their target price 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. UBS Group raised their price objective on Reinsurance Group of America from $220.00 to $236.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Reinsurance Group of America in a research note on Wednesday, May 13th. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Reinsurance Group of America has an average rating of “Moderate Buy” and a consensus target price of $255.50.

Reinsurance Group of America Stock Up 1.1%

The stock has a market cap of $15.89 billion, a P/E ratio of 13.14 and a beta of 0.47. The firm’s fifty day moving average is $213.97 and its 200 day moving average is $209.68. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46.

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

Reinsurance Group of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 19th were issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, May 19th. Reinsurance Group of America’s payout ratio is presently 20.15%.

Insider Activity

In related 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 sale, the executive vice president owned 3,938 shares in the company, valued at $829,264.04. This trade represents a 64.00% decrease in their position. The sale was disclosed in a document filed 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 on Wednesday, May 20th. The shares were sold at an average price of $214.95, for a total value of $88,989.30. Following the completion of the transaction, the executive vice president owned 20,949 shares of the company’s stock, valued at approximately $4,502,987.55. The trade was a 1.94% decrease in their position. The SEC filing for this sale provides additional information. 0.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. grew its holdings in Reinsurance Group of America by 44.3% during the first quarter. Goldman Sachs Group Inc. now owns 221,198 shares of the insurance provider’s stock valued at $43,554,000 after purchasing an additional 67,880 shares during the period. Focus Partners Wealth raised its holdings in shares of Reinsurance Group of America by 121.2% in the first quarter. Focus Partners Wealth now owns 2,676 shares of the insurance provider’s stock valued at $527,000 after purchasing an additional 1,466 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in Reinsurance Group of America by 17.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 388 shares of the insurance provider’s stock worth $76,000 after buying an additional 58 shares in the last quarter. Gabelli Funds LLC bought a new position in Reinsurance Group of America in the second quarter valued at approximately $1,006,000. Finally, Cerity Partners LLC increased its holdings in Reinsurance Group of America by 15.5% during the second quarter. Cerity Partners LLC now owns 33,716 shares of the insurance provider’s stock worth $6,688,000 after buying an additional 4,527 shares during the last quarter. 95.11% of the stock is currently owned by institutional investors.

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.