Reinsurance Group of America (NYSE:RGA) Reaches New 12-Month High - What's Next?

Key Points

• Reinsurance Group of America (NYSE:RGA) hit a new 52-week high, trading as high as $229.44 and last around $229.58, up about 1.8% on the day.
• Analysts remain generally positive on the stock, with a consensus Moderate Buy rating and an average price target of $252.50. Recent updates from firms like Evercore and JPMorgan lifted their targets to $267 and $270, respectively.
• The company posted strong quarterly results, reporting $6.97 EPS versus the expected $6.03 and revenue of $6.49 billion, while also paying a quarterly dividend of $0.93 per share for a 1.6% annualized yield.

Reinsurance Group of America, Incorporated (NYSE:RGA - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $229.44 and last traded at $229.5840, with a volume of 28950 shares trading hands. The stock had previously closed at $224.08.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RGA. Evercore restated an "outperform" rating and set a $267.00 target price on shares of Reinsurance Group of America in a report on Monday, May 18th. JPMorgan Chase & Co. upped their target price on Reinsurance Group of America from $264.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. UBS Group boosted their price objective on Reinsurance Group of America from $216.00 to $220.00 and gave the stock a "neutral" rating in a report on Thursday, April 9th. Wall Street Zen raised shares of Reinsurance Group of America from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Reinsurance Group of America in a research note on Wednesday, May 13th. Seven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $252.50.

Reinsurance Group of America Stock Up 1.8%

The business's 50 day simple moving average is $209.84 and its 200-day simple moving average is $207.86. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.14 and a current ratio of 0.14. The company has a market cap of $14.95 billion, a price-to-earnings ratio of 12.36 and a beta of 0.47.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The insurance provider reported $6.97 EPS for the quarter, beating the consensus estimate of $6.03 by $0.94. The business had revenue of $6.49 billion during the quarter, compared to analysts' expectations of $6.47 billion. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.The firm's quarterly revenue was up 23.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.66 EPS. Sell-side analysts expect that Reinsurance Group of America, Incorporated will post 26.88 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 19th were given 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 dividend yield of 1.6%. Reinsurance Group of America's payout ratio is currently 20.15%.

Insider Buying and Selling

In related news, EVP Ronald Herrmann sold 7,000 shares of the firm's stock in a transaction 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 transaction, the executive vice president directly owned 3,938 shares in the company, valued at approximately $829,264.04. This trade represents a 64.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP John W. Hayden sold 414 shares of the firm's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $214.95, for a total value of $88,989.30. Following the completion of the sale, the executive vice president directly owned 20,949 shares in the company, valued at approximately $4,502,987.55. This represents a 1.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.60% of the stock is currently owned by company insiders.

Institutional Trading of Reinsurance Group of America

Several institutional investors have recently modified their holdings of the company. WCM Investment Management LLC boosted its stake in Reinsurance Group of America by 3.0% during the first quarter. WCM Investment Management LLC now owns 2,830,620 shares of the insurance provider's stock worth $566,803,000 after buying an additional 82,681 shares in the last quarter. State Street Corp grew its stake in shares of Reinsurance Group of America by 2.8% in the 3rd quarter. State Street Corp now owns 2,346,447 shares of the insurance provider's stock valued at $450,823,000 after purchasing an additional 64,296 shares during the period. AQR Capital Management LLC lifted its position in shares of Reinsurance Group of America by 148.4% during the 4th quarter. AQR Capital Management LLC now owns 1,652,102 shares of the insurance provider's stock worth $336,137,000 after buying an additional 987,014 shares during the period. Geode Capital Management LLC boosted its stake in Reinsurance Group of America by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 1,341,364 shares of the insurance provider's stock valued at $272,966,000 after buying an additional 12,682 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Reinsurance Group of America by 1.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,114,998 shares of the insurance provider's stock worth $227,624,000 after acquiring an additional 15,372 shares in the last quarter. Institutional investors and hedge funds own 95.11% of the company's stock.

Reinsurance Group of America Company Profile

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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