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

Key Points

• Reinsurance Group of America (NYSE:RGA) hit a new 52-week high, trading as high as $234.37 and ending up about 1.5% on the day.
• Recent analyst action has been broadly supportive, with multiple firms raising price targets and the stock carrying an average “Moderate Buy” rating and a consensus target of $255.50.
• The company reported strong quarterly results, with EPS of $6.97 beating estimates and revenue rising 23.5% year over year; it also paid a quarterly dividend of $0.93 per share.

Reinsurance Group of America, Incorporated (NYSE:RGA - Get Free Report)'s share price hit a new 52-week high on Monday . The company traded as high as $234.37 and last traded at $234.5520, with a volume of 4662 shares. The stock had previously closed at $231.16.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on RGA shares. JPMorgan Chase & Co. boosted their price objective on Reinsurance Group of America from $264.00 to $270.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. UBS Group lifted their price objective on shares of Reinsurance Group of America from $220.00 to $236.00 and gave the company a "neutral" rating in a research note on Wednesday. Wells Fargo & Company upped their target price on Reinsurance Group of America from $261.00 to $269.00 and gave the stock an "overweight" rating in a research report on Thursday. Piper Sandler cut their price target on shares of Reinsurance Group of America from $263.00 to $261.00 and set an "overweight" rating for the company in a report on Monday, May 11th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Reinsurance Group of America in a research note on Wednesday, May 13th. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $255.50.

Reinsurance Group of America Stock Up 1.5%

The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46. The firm's fifty day moving average is $211.50 and its 200 day moving average is $208.57. The stock has a market cap of $15.38 billion, a P/E ratio of 12.72 and a beta of 0.47.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The insurance provider reported $6.97 EPS for the quarter, topping analysts' consensus estimates of $6.03 by $0.94. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.47 billion. During the same period in the previous year, the company posted $5.66 earnings per share. The firm's revenue for the quarter was up 23.5% on a year-over-year basis. As a group, equities research analysts forecast that Reinsurance Group of America, Incorporated will post 26.86 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 19th were issued a $0.93 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $3.72 dividend on an annualized basis and a yield of 1.6%. Reinsurance Group of America's dividend payout ratio (DPR) is 20.15%.

Insider Activity at Reinsurance Group of America

In other news, EVP John W. Hayden sold 414 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total transaction of $88,989.30. Following the completion of the transaction, the executive vice president directly owned 20,949 shares in the company, valued at $4,502,987.55. The trade was a 1.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ronald Herrmann sold 7,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $210.58, for a total value of $1,474,060.00. Following the completion of the sale, the executive vice president directly owned 3,938 shares of the company's stock, valued at $829,264.04. This represents a 64.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.60% of the company's stock.

Hedge Funds Weigh In On Reinsurance Group of America

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Activest Wealth Management acquired a new stake in shares of Reinsurance Group of America in the fourth quarter valued at $30,000. Tobam lifted its position in Reinsurance Group of America by 244.7% during the 4th quarter. Tobam now owns 162 shares of the insurance provider's stock worth $33,000 after buying an additional 115 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Reinsurance Group of America during the 4th quarter worth about $35,000. Entrust Financial LLC bought a new stake in Reinsurance Group of America during the 4th quarter worth about $40,000. Finally, Advisory Services Network LLC bought a new stake in Reinsurance Group of America during the 3rd quarter worth about $38,000. 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 leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company's offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA's product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.

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