Reinsurance Group of America (NYSE:RGA) Hits New 1-Year High Following Better-Than-Expected Earnings

Reinsurance Group of America, Incorporated (NYSE:RGA - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Friday following a stronger than expected earnings report. The stock traded as high as $202.06 and last traded at $200.28, with a volume of 151700 shares trading hands. The stock had previously closed at $191.18.

The insurance provider reported $6.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.51 by $1.51. Reinsurance Group of America had a return on equity of 16.20% and a net margin of 4.86%. The firm had revenue of $6.34 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same period in the previous year, the company posted $5.16 earnings per share.

Reinsurance Group of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Monday, May 13th. Reinsurance Group of America's dividend payout ratio is 25.32%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RGA shares. Keefe, Bruyette & Woods raised their target price on Reinsurance Group of America from $200.00 to $220.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 10th. JPMorgan Chase & Co. upped their target price on shares of Reinsurance Group of America from $189.00 to $195.00 and gave the company a "neutral" rating in a research report on Friday. Evercore ISI lifted their price target on shares of Reinsurance Group of America from $200.00 to $215.00 and gave the stock an "outperform" rating in a research report on Thursday, April 11th. Morgan Stanley lifted their target price on shares of Reinsurance Group of America from $178.00 to $185.00 and gave the stock an "equal weight" rating in a report on Monday, April 15th. Finally, Wells Fargo & Company increased their price objective on Reinsurance Group of America from $193.00 to $210.00 and gave the stock an "overweight" rating in a report on Thursday, April 11th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $194.85.

Insider Buying and Selling at Reinsurance Group of America

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,588 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $171.83, for a total transaction of $272,866.04. Following the sale, the executive vice president now directly owns 13,625 shares in the company, valued at approximately $2,341,183.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Todd C. Larson sold 2,966 shares of Reinsurance Group of America stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $182.88, for a total transaction of $542,422.08. Following the sale, the chief financial officer now owns 49,549 shares of the company's stock, valued at approximately $9,061,521.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William L. Hutton sold 1,588 shares of the company's stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $171.83, for a total value of $272,866.04. Following the completion of the transaction, the executive vice president now owns 13,625 shares of the company's stock, valued at $2,341,183.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,462 shares of company stock valued at $1,162,239. Corporate insiders own 1.37% of the company's stock.

Hedge Funds Weigh In On Reinsurance Group of America

Institutional investors have recently bought and sold shares of the stock. Lindbrook Capital LLC increased its stake in Reinsurance Group of America by 129.9% in the 4th quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider's stock worth $25,000 after buying an additional 87 shares during the period. Pineridge Advisors LLC purchased a new stake in Reinsurance Group of America in the fourth quarter worth about $26,000. Rise Advisors LLC bought a new position in shares of Reinsurance Group of America during the first quarter valued at approximately $29,000. VisionPoint Advisory Group LLC boosted its position in Reinsurance Group of America by 116.3% during the third quarter. VisionPoint Advisory Group LLC now owns 212 shares of the insurance provider's stock valued at $31,000 after purchasing an additional 114 shares in the last quarter. Finally, Toth Financial Advisory Corp grew its stake in Reinsurance Group of America by 41.2% in the fourth quarter. Toth Financial Advisory Corp now owns 240 shares of the insurance provider's stock valued at $39,000 after purchasing an additional 70 shares during the last quarter. 95.11% of the stock is owned by hedge funds and other institutional investors.

Reinsurance Group of America Price Performance

The firm has a market capitalization of $13.27 billion, a P/E ratio of 15.01 and a beta of 0.88. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.17 and a quick ratio of 0.17. The stock's fifty day simple moving average is $186.04 and its 200 day simple moving average is $170.47.

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.