Reinsurance Group of America (NYSE:RGA) Sets New 52-Week High Following Analyst Upgrade

Shares of Reinsurance Group of America, Incorporated (NYSE:RGA) hit 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 traded. The stock had previously closed at $230.70.

A number of other equities analysts have also issued reports on RGA. Morgan Stanley decreased their target price on shares of Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. StockNews.com upgraded shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods raised Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, October 3rd. Raymond James increased their price target on Reinsurance Group of America from $228.00 to $250.00 and gave the company a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, TD Cowen started coverage on Reinsurance Group of America in a research report on Wednesday, October 9th. They set a “hold” rating and a $235.00 price target on the stock. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Reinsurance Group of America has an average rating of “Moderate Buy” and an average target price of $227.77.

Insider Activity

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of Reinsurance Group of America stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $218.97, for a total transaction of $264,734.73. Following the completion of the sale, the executive vice president now owns 12,357 shares of the company’s stock, valued at $2,705,812.29. This trade represents a 8.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.37% 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 company. Armstrong Advisory Group Inc. bought a new stake in Reinsurance Group of America in the third quarter worth $25,000. International Assets Investment Management LLC bought a new stake in shares of Reinsurance Group of America during the 2nd quarter worth about $28,000. Family Firm Inc. acquired a new position in shares of Reinsurance Group of America during the 2nd quarter valued at about $29,000. New Covenant Trust Company N.A. bought a new position in shares of Reinsurance Group of America in the 1st quarter valued at approximately $28,000. Finally, Private Trust Co. NA lifted its holdings in Reinsurance Group of America by 333.3% in the 3rd quarter. Private Trust Co. NA now owns 156 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 120 shares during the last quarter. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Stock Up 0.3 %

The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.45. The business has a 50-day simple moving average of $219.35 and a 200-day simple moving average of $213.14. The stock has a market cap of $15.24 billion, a P/E ratio of 21.25 and a beta of 0.92.

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

Reinsurance Group of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be paid a $0.89 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.54%. Reinsurance Group of America’s payout ratio is presently 32.69%.

Reinsurance Group of America Company Profile

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.