Reinsurance Group of America (NYSE:RGA) Reaches New 52-Week High - What's Next?

Key Points

• Reinsurance Group of America reached a new 52-week high, trading as high as $249.87 and closing up 0.9%. Analysts maintain a “Moderate Buy” consensus with an average price target of $257.11.
• The company reported quarterly EPS of $8.89, beating estimates of $6.50, while revenue rose 18.5% year over year to $6.64 billion, narrowly below expectations.
• RGA raised its quarterly dividend to $0.98 per share from $0.93, equating to an annualized dividend of $3.92 and a 1.6% yield.

Reinsurance Group of America, Incorporated (NYSE:RGA - Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as $249.87 and last traded at $249.3080, with a volume of 11874 shares. The stock had previously closed at $246.08.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Evercore reissued an "outperform" rating and set a $267.00 price objective on shares of Reinsurance Group of America in a research note on Monday, May 18th. Wall Street Zen raised shares of Reinsurance Group of America from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Weiss Ratings reiterated a "buy (b)" rating on shares of Reinsurance Group of America in a report on Friday, August 7th. UBS Group raised Reinsurance Group of America from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 24th. Finally, TD Cowen raised their price objective on Reinsurance Group of America from $212.00 to $235.00 and gave the stock a "hold" rating in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $257.11.

Reinsurance Group of America Stock Up 0.9%

The stock has a market cap of $16.21 billion, a price-to-earnings ratio of 10.91 and a beta of 0.47. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.41. The stock has a fifty day moving average of $225.18 and a two-hundred day moving average of $214.70.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The insurance provider reported $8.89 EPS for the quarter, topping the consensus estimate of $6.50 by $2.39. The company had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.67 billion. Reinsurance Group of America had a return on equity of 14.78% and a net margin of 5.81%.The firm's revenue was up 18.5% on a year-over-year basis. During the same period in the prior year, the firm posted $4.72 earnings per share. As a group, analysts predict that Reinsurance Group of America, Incorporated will post 27.72 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be given a dividend of $0.98 per share. This is a boost from Reinsurance Group of America's previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $3.92 dividend on an annualized basis and a yield of 1.6%. Reinsurance Group of America's dividend payout ratio is currently 16.34%.

Insider Buying and Selling

In related news, EVP John W. Hayden sold 414 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $214.95, for a total value of $88,989.30. Following the transaction, the executive vice president owned 20,949 shares in the company, valued at approximately $4,502,987.55. This trade represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.60% of the company's stock.

Institutional Investors Weigh In On Reinsurance Group of America

Large investors have recently made changes to their positions in the business. Activest Wealth Management acquired a new position in shares of Reinsurance Group of America during the 4th quarter valued at $30,000. Tobam increased its holdings in Reinsurance Group of America by 244.7% in the 4th quarter. Tobam now owns 162 shares of the insurance provider's stock valued at $33,000 after purchasing an additional 115 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Reinsurance Group of America in the fourth quarter valued at about $35,000. Advisory Services Network LLC purchased a new position in Reinsurance Group of America in the third quarter valued at about $38,000. Finally, Entrust Financial LLC acquired a new position in shares of Reinsurance Group of America during the fourth quarter worth about $40,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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