Reinsurance Group of America (NYSE:RGA) Sets New 12-Month High Following Analyst Upgrade

Shares of Reinsurance Group of America, Incorporated (NYSE:RGA) reached a new 52-week high during mid-day trading on Monday after Barclays raised their price target on the stock from $250.00 to $255.00. Barclays currently has an overweight rating on the stock. Reinsurance Group of America traded as high as $233.99 and last traded at $233.99, with a volume of 571 shares. The stock had previously closed at $230.70.

A number of other equities analysts also recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Reinsurance Group of America from $220.00 to $222.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Royal Bank of Canada lifted their price objective on Reinsurance Group of America from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. TD Cowen started coverage on shares of Reinsurance Group of America in a report on Wednesday, October 9th. They issued a “hold” rating and a $235.00 target price for the company. StockNews.com upgraded shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Finally, Piper Sandler upped their price target on shares of Reinsurance Group of America from $237.00 to $242.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $227.77.

Insiders Place Their Bets

In other news, EVP William L. Hutton sold 1,209 shares of Reinsurance Group of America stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $218.97, for a total value of $264,734.73. Following the sale, the executive vice president now directly owns 12,357 shares of the company’s stock, valued at approximately $2,705,812.29. The trade was a 8.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.37% of the company’s stock.

Hedge Funds Weigh In On Reinsurance Group of America

Institutional investors have recently added to or reduced their stakes in the company. Invst LLC purchased a new stake in shares of Reinsurance Group of America during the 3rd quarter worth approximately $229,000. Coldstream Capital Management Inc. raised its stake in Reinsurance Group of America by 4.6% during the third quarter. Coldstream Capital Management Inc. now owns 11,953 shares of the insurance provider’s stock valued at $2,606,000 after purchasing an additional 530 shares in the last quarter. Geode Capital Management LLC lifted its position in Reinsurance Group of America by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,109,766 shares of the insurance provider’s stock valued at $241,849,000 after purchasing an additional 18,162 shares during the last quarter. Barclays PLC grew its stake in shares of Reinsurance Group of America by 5.5% in the 3rd quarter. Barclays PLC now owns 102,790 shares of the insurance provider’s stock worth $22,396,000 after buying an additional 5,398 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Reinsurance Group of America by 22.2% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 42,520 shares of the insurance provider’s stock worth $9,264,000 after buying an additional 7,714 shares during the last quarter. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Price Performance

The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.45. The firm’s 50-day moving average price is $219.09 and its 200-day moving average price is $212.96. The stock has a market capitalization of $15.41 billion, a PE ratio of 21.18 and a beta of 0.92.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.31 by $0.82. The business had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.29 billion. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business posted $5.57 earnings per share. On average, equities analysts forecast that Reinsurance Group of America, Incorporated will post 21.93 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Friday, November 8th. Reinsurance Group of America’s payout ratio is 32.69%.

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.