Reinsurance Group of America (NYSE:RGA) Sets New 52-Week Low – Time to Sell?

by · The Markets Daily

Reinsurance Group of America, Incorporated (NYSE:RGA – Get Free Report) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $170.19 and last traded at $172.95, with a volume of 258733 shares. The stock had previously closed at $187.11.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on RGA shares. JPMorgan Chase & Co. raised shares of Reinsurance Group of America from a “neutral” rating to an “overweight” rating and raised their price target for the company from $232.00 to $237.00 in a research report on Wednesday. Piper Sandler decreased their price objective on shares of Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Morgan Stanley lowered their price objective on shares of Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. UBS Group reissued a “neutral” rating and set a $216.00 price objective (down from $250.00) on shares of Reinsurance Group of America in a report on Wednesday. Finally, Barclays lowered their price target on shares of Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $230.38.

Check Out Our Latest Analysis on Reinsurance Group of America

Reinsurance Group of America Stock Down 7.9 %

The company has a market cap of $11.37 billion, a P/E ratio of 16.04 and a beta of 0.91. The company has a 50-day simple moving average of $202.67 and a 200 day simple moving average of $213.05. The company has a current ratio of 0.15, a quick ratio of 0.17 and a debt-to-equity ratio of 0.46.

Reinsurance Group of America (NYSE:RGA – Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The insurance provider reported $4.99 earnings per share for the quarter, missing the consensus estimate of $5.22 by ($0.23). Reinsurance Group of America had a return on equity of 14.55% and a net margin of 3.24%. On average, equities analysts anticipate that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were paid a $0.89 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $3.56 annualized dividend and a yield of 2.07%. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 33.15%.

Institutional Trading of Reinsurance Group of America

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Reinsurance Group of America by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 7,213,971 shares of the insurance provider’s stock worth $1,541,121,000 after purchasing an additional 51,733 shares during the last quarter. FMR LLC grew its holdings in shares of Reinsurance Group of America by 11.1% during the fourth quarter. FMR LLC now owns 5,640,788 shares of the insurance provider’s stock valued at $1,205,042,000 after buying an additional 564,693 shares during the last quarter. WCM Investment Management LLC increased its holdings in shares of Reinsurance Group of America by 1.4% in the fourth quarter. WCM Investment Management LLC now owns 2,480,750 shares of the insurance provider’s stock valued at $526,911,000 after purchasing an additional 33,082 shares during the period. Alliancebernstein L.P. boosted its position in Reinsurance Group of America by 389.4% in the fourth quarter. Alliancebernstein L.P. now owns 1,123,022 shares of the insurance provider’s stock valued at $239,911,000 after buying an additional 893,537 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Reinsurance Group of America by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 1,113,872 shares of the insurance provider’s stock worth $238,031,000 after buying an additional 4,106 shares during the period. 95.11% of the stock is owned by hedge funds and other institutional investors.

Reinsurance Group of America Company Profile

(Get Free Report)

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.

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