Reinsurance Group of America (NYSE:RGA) Hits New 12-Month High at $224.03

Shares of Reinsurance Group of America, Incorporated (NYSE:RGA) hit a new 52-week high during trading on Tuesday . The company traded as high as $224.03 and last traded at $223.60, with a volume of 4735 shares traded. The stock had previously closed at $221.03.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RGA. Morgan Stanley upped their target price on shares of Reinsurance Group of America from $216.00 to $217.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 10th. Raymond James upped their target price on shares of Reinsurance Group of America from $212.00 to $228.00 and gave the stock a “strong-buy” rating in a research note on Friday, June 14th. Keefe, Bruyette & Woods upped their target price on shares of Reinsurance Group of America from $220.00 to $235.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 7th. Wells Fargo & Company increased their price objective on shares of Reinsurance Group of America from $210.00 to $227.00 and gave the company an “overweight” rating in a research note on Friday, May 10th. Finally, Jefferies Financial Group increased their price objective on shares of Reinsurance Group of America from $63.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $215.64.

Reinsurance Group of America Trading Up 1.8 %

The stock’s fifty day simple moving average is $208.98 and its 200-day simple moving average is $192.32. The firm has a market cap of $14.81 billion, a PE ratio of 17.17 and a beta of 0.92. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.19 and a quick ratio of 0.19.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Friday, May 3rd. The insurance provider reported $6.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.55 by $1.47. The business had revenue of $6.34 billion during the quarter, compared to analysts’ expectations of $4.54 billion. Reinsurance Group of America had a net margin of 4.16% and a return on equity of 15.94%. During the same quarter last year, the company posted $5.16 earnings per share. On average, sell-side analysts forecast that Reinsurance Group of America, Incorporated will post 21.11 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th were issued a dividend of $0.85 per share. The ex-dividend date was Monday, May 13th. This represents a $3.40 annualized dividend and a dividend yield of 1.51%. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 26.42%.

Insider Buying and Selling

In related news, EVP John W. Hayden sold 1,767 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $206.85, for a total transaction of $365,503.95. Following the completion of the transaction, the executive vice president now owns 16,490 shares of the company’s stock, valued at $3,410,956.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.37% of the stock is currently owned by corporate insiders.

Institutional Trading of Reinsurance Group of America

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lindbrook Capital LLC grew its position in shares of Reinsurance Group of America by 129.9% in the fourth quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 87 shares during the period. Pineridge Advisors LLC purchased a new position in Reinsurance Group of America during the fourth quarter worth about $26,000. New Covenant Trust Company N.A. purchased a new position in Reinsurance Group of America during the first quarter worth about $28,000. Rise Advisors LLC purchased a new position in Reinsurance Group of America during the first quarter worth about $29,000. Finally, Family Firm Inc. purchased a new position in Reinsurance Group of America during the second quarter worth about $29,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

About Reinsurance Group of America

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.