Reinsurance Group of America (NYSE:RGA) Reaches New 12-Month High After Analyst Upgrade

Shares of Reinsurance Group of America, Incorporated (NYSE:RGA) reached a new 52-week high on Friday after Wells Fargo & Company raised their price target on the stock from $210.00 to $227.00. Wells Fargo & Company currently has an overweight rating on the stock. Reinsurance Group of America traded as high as $208.75 and last traded at $208.71, with a volume of 84380 shares changing hands. The stock had previously closed at $205.02.

RGA has been the subject of a number of other research reports. Piper Sandler lifted their target price on Reinsurance Group of America from $195.00 to $220.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Keefe, Bruyette & Woods boosted their price objective on Reinsurance Group of America from $220.00 to $235.00 and gave the stock an “outperform” rating in a report on Tuesday. Royal Bank of Canada reissued an “outperform” rating and set a $212.00 price objective on shares of Reinsurance Group of America in a report on Friday, April 12th. Evercore ISI boosted their price objective on Reinsurance Group of America from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Finally, UBS Group upped their target price on Reinsurance Group of America from $198.00 to $223.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Reinsurance Group of America has a consensus rating of “Moderate Buy” and a consensus target price of $197.31.

Insiders Place Their Bets

In related news, EVP William L. Hutton sold 1,908 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $181.84, for a total transaction of $346,950.72. Following the sale, the executive vice president now directly owns 13,363 shares of the company’s stock, valued at $2,429,927.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Todd C. Larson sold 2,966 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $182.88, for a total value of $542,422.08. Following the transaction, the chief financial officer now directly owns 49,549 shares in the company, valued at $9,061,521.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William L. Hutton sold 1,908 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $181.84, for a total value of $346,950.72. Following the completion of the transaction, the executive vice president now owns 13,363 shares in the company, valued at $2,429,927.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,462 shares of company stock worth $1,162,239. 1.37% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Reinsurance Group of America

A number of hedge funds have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. grew its stake in shares of Reinsurance Group of America by 54.6% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 6,418 shares of the insurance provider’s stock valued at $932,000 after buying an additional 2,267 shares during the last quarter. Mackenzie Financial Corp increased its stake in Reinsurance Group of America by 47.5% in the third quarter. Mackenzie Financial Corp now owns 12,880 shares of the insurance provider’s stock worth $1,833,000 after purchasing an additional 4,148 shares during the period. Advisor Partners II LLC lifted its position in shares of Reinsurance Group of America by 15.7% during the third quarter. Advisor Partners II LLC now owns 5,999 shares of the insurance provider’s stock worth $871,000 after purchasing an additional 814 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Reinsurance Group of America by 1.3% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 21,536 shares of the insurance provider’s stock worth $3,127,000 after purchasing an additional 272 shares during the last quarter. Finally, Cambiar Investors LLC increased its stake in Reinsurance Group of America by 13.4% in the 3rd quarter. Cambiar Investors LLC now owns 95,143 shares of the insurance provider’s stock worth $13,814,000 after buying an additional 11,255 shares during the period. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Reinsurance Group of America Stock Up 1.8 %

The company has a market cap of $13.73 billion, a P/E ratio of 16.22 and a beta of 0.88. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.17 and a current ratio of 0.19. The business’s fifty day moving average is $189.54 and its two-hundred day moving average is $172.74.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Friday, May 3rd. The insurance provider reported $6.02 EPS for the quarter, topping analysts’ consensus estimates of $4.55 by $1.47. Reinsurance Group of America had a net margin of 4.16% and a return on equity of 15.94%. The business had revenue of $6.34 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same period last year, the company posted $5.16 earnings per share. Equities analysts predict that Reinsurance Group of America, Incorporated will post 19.41 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend is Monday, May 13th. Reinsurance Group of America’s dividend payout ratio is 26.42%.

Reinsurance Group of America Company Profile

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.