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

by · The Markets Daily

Reinsurance Group of America, Incorporated (NYSE:RGA – Get Free Report) shares hit a new 52-week high during trading on Wednesday. The stock traded as high as $263.00 and last traded at $258.0080, with a volume of 607,904 shares changing hands. The stock had previously closed at $259.95.

Wall Street Analysts Forecast Growth

RGA has been the subject of a number of recent analyst reports. Morgan Stanley upgraded Reinsurance Group of America from an “equal weight” rating to an “overweight” rating and set a $295.00 price objective for the company in a research report on Monday, September 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Reinsurance Group of America in a research report on Friday, August 7th. JPMorgan Chase & Co. lifted their price target on shares of Reinsurance Group of America from $286.00 to $293.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. UBS Group raised shares of Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. Finally, Barclays set a $292.00 price target on shares of Reinsurance Group of America in a report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $267.89.

Read Our Latest Report on RGA

Reinsurance Group of America Stock Down 0.7%

The company has a debt-to-equity ratio of 0.41, a current ratio of 0.14 and a quick ratio of 0.14. The business’s 50 day moving average price is $247.85 and its 200 day moving average price is $226.69. The firm has a market cap of $16.85 billion, a PE ratio of 8.67 and a beta of 0.45.

Reinsurance Group of America (NYSE:RGA – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The insurance provider reported $8.89 earnings per share for the quarter, beating analysts’ consensus estimates of $6.50 by $2.39. The firm had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.67 billion. Reinsurance Group of America had a net margin of 5.81% and a return on equity of 14.78%. Reinsurance Group of America’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same period last year, the company posted $4.72 EPS. On average, equities research analysts expect that Reinsurance Group of America, Incorporated will post 29.71 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th were paid a dividend of $0.98 per share. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.93. The ex-dividend date was Tuesday, August 18th. This represents a $3.92 annualized dividend and a yield of 1.5%. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 17.22%.

Insider Activity at Reinsurance Group of America

In other Reinsurance Group of America news, EVP Jonathan Porter sold 8,589 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $246.30, for a total transaction of $2,115,470.70. Following the completion of the transaction, the executive vice president owned 14,885 shares of the company’s stock, valued at $3,666,175.50. This represents a 36.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.60% of the stock is owned by insiders.

Institutional Trading of Reinsurance Group of America

A number of institutional investors have recently made changes to their positions in RGA. Copeland Capital Management LLC purchased a new stake in shares of Reinsurance Group of America during the third quarter worth approximately $489,000. Krilogy Financial LLC raised its stake in Reinsurance Group of America by 9.0% in the 3rd quarter. Krilogy Financial LLC now owns 2,871 shares of the insurance provider’s stock valued at $746,000 after purchasing an additional 236 shares during the last quarter. NorthCrest Asset Manangement LLC lifted its holdings in Reinsurance Group of America by 41.8% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 4,068 shares of the insurance provider’s stock valued at $1,041,000 after purchasing an additional 1,200 shares in the last quarter. Wedmont Private Capital lifted its holdings in Reinsurance Group of America by 40.0% in the 3rd quarter. Wedmont Private Capital now owns 3,460 shares of the insurance provider’s stock valued at $886,000 after purchasing an additional 989 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC lifted its holdings in Reinsurance Group of America by 8.1% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 3,961 shares of the insurance provider’s stock valued at $975,000 after purchasing an additional 296 shares in the last quarter. 95.11% of the stock is owned by institutional investors and hedge funds.

Reinsurance Group of America Company Profile

(Get Free Report)

Reinsurance Group of America, Incorporated (NYSE:RGA) is a global provider of life and health reinsurance. The company helps insurance organizations manage mortality, longevity, morbidity and other insurance risks by assuming portions of their business and providing capital, risk-management expertise and specialized underwriting support.

RGA offers traditional reinsurance and financial solutions for individual life insurance, group life and health coverage, retirement and annuity products, long-term care and disability insurance.

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