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

Key Points

• Reinsurance Group of America reached a new 52-week high, trading as high as $263, with a market capitalization of approximately $16.85 billion.
• Analysts maintain a generally positive outlook, with an average rating of “Moderate Buy” and a consensus price target of $267.89; JPMorgan and Wells Fargo recently raised their targets.
• RGA reported strong quarterly results, including $8.89 in adjusted EPS versus the $6.50 estimate and 18.5% year-over-year revenue growth, while increasing its quarterly dividend to $0.98 per share.

Reinsurance Group of America, Incorporated (NYSE:RGA - Get Free Report)'s share price reached a new 52-week high on Wednesday. The company traded as high as $263.00 and last traded at $258.0080, with a volume of 607,904 shares. The stock had previously closed at $259.95.

Wall Street Analyst Weigh In

RGA has been the topic of several recent research reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Reinsurance Group of America in a research report on Friday, August 7th. UBS Group raised Reinsurance Group of America from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 24th. JPMorgan Chase & Co. upped their price objective on Reinsurance Group of America from $286.00 to $293.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 11th. Wells Fargo & Company upped their price objective on Reinsurance Group of America from $291.00 to $292.00 and gave the stock an "overweight" rating in a research note on Monday. Finally, TD Cowen raised their price objective on Reinsurance Group of America from $212.00 to $235.00 and gave the company a "hold" rating in a research report on Wednesday, July 22nd. 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 given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $267.89.

Reinsurance Group of America Stock Performance

The business's 50-day moving average price is $247.85 and its 200-day moving average price is $226.69. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.41. The stock 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 posted its quarterly earnings data on Thursday, August 6th. The insurance provider reported $8.89 EPS for the quarter, topping the consensus estimate of $6.50 by $2.39. Reinsurance Group of America had a net margin of 5.81% and a return on equity of 14.78%. The firm had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.67 billion. During the same quarter in the previous year, the business posted $4.72 EPS. Reinsurance Group of America's revenue was up 18.5% on a year-over-year basis. As a group, equities research analysts expect that Reinsurance Group of America, Incorporated will post 29.71 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

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

Insider Transactions at Reinsurance Group of America

In other news, EVP Jonathan Porter sold 8,589 shares of the company's stock in a transaction 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 transaction, the executive vice president directly owned 14,885 shares of the company's stock, valued at approximately $3,666,175.50. This represents a 36.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.60% of the company's stock.

Institutional Trading of Reinsurance Group of America

A number of institutional investors have recently made changes to their positions in RGA. SG Americas Securities LLC lifted its stake in shares of Reinsurance Group of America by 26.5% during the first quarter. SG Americas Securities LLC now owns 89,847 shares of the insurance provider's stock worth $18,343,000 after buying an additional 18,826 shares during the period. Engineers Gate Manager LP grew its position in Reinsurance Group of America by 26.8% during the 2nd quarter. Engineers Gate Manager LP now owns 25,218 shares of the insurance provider's stock worth $5,363,000 after purchasing an additional 5,331 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Reinsurance Group of America during the second quarter valued at approximately $1,489,000. Interval Partners LP increased its holdings in shares of Reinsurance Group of America by 186.5% during the 4th quarter. Interval Partners LP now owns 69,739 shares of the insurance provider's stock valued at $14,189,000 after purchasing an additional 45,399 shares in the last quarter. Finally, WCM Investment Management LLC increased its holdings in Reinsurance Group of America by 3.0% in the first quarter. WCM Investment Management LLC now owns 2,830,620 shares of the insurance provider's stock valued at $566,803,000 after buying an additional 82,681 shares in the last quarter. Institutional investors and hedge funds own 95.11% of the company's stock.

About Reinsurance Group of America

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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