Reinsurance Group of America (NYSE:RGA) Sets New 1-Year High at $213.58

Reinsurance Group of America, Incorporated (NYSE:RGA) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $213.58 and last traded at $212.87, with a volume of 19744 shares trading hands. The stock had previously closed at $211.74.

Analysts Set New Price Targets

RGA has been the topic of several analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $225.00 target price on shares of Reinsurance Group of America in a research note on Friday, June 14th. Jefferies Financial Group upped their target price on Reinsurance Group of America from $63.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday. Evercore ISI upped their price objective on Reinsurance Group of America from $225.00 to $241.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 26th. Raymond James upped their target price on Reinsurance Group of America from $212.00 to $228.00 and gave the stock a “strong-buy” rating in a research note on Friday, June 14th. Finally, UBS Group upped their target price on Reinsurance Group of America from $223.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $207.45.

Reinsurance Group of America Stock Up 0.6 %

The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $14.02 billion, a PE ratio of 16.54 and a beta of 0.92. The firm has a 50 day simple moving average of $206.62 and a two-hundred day simple moving average of $187.52.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Friday, May 3rd. The insurance provider reported $6.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.55 by $1.47. Reinsurance Group of America had a return on equity of 15.94% and a net margin of 4.16%. The firm had revenue of $6.34 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same period in the previous year, the firm posted $5.16 earnings per share. Research analysts expect that Reinsurance Group of America, Incorporated will post 21.11 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Monday, May 13th. Reinsurance Group of America’s payout ratio is 26.42%.

Insider Activity at Reinsurance Group of America

In other Reinsurance Group of America news, EVP John W. Hayden sold 1,767 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $206.85, for a total transaction of $365,503.95. Following the sale, the executive vice president now owns 16,490 shares in the company, valued at $3,410,956.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.37% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Reinsurance Group of America

Several hedge funds have recently modified their holdings of the company. Symmetry Partners LLC acquired a new stake in shares of Reinsurance Group of America in the second quarter worth $218,000. Gunderson Capital Management Inc. acquired a new stake in Reinsurance Group of America during the second quarter valued at approximately $3,516,000. Simplicity Wealth LLC boosted its holdings in Reinsurance Group of America by 10.1% during the second quarter. Simplicity Wealth LLC now owns 2,053 shares of the insurance provider’s stock valued at $421,000 after purchasing an additional 189 shares in the last quarter. CWM LLC boosted its holdings in shares of Reinsurance Group of America by 27.1% in the 2nd quarter. CWM LLC now owns 1,359 shares of the insurance provider’s stock worth $279,000 after acquiring an additional 290 shares in the last quarter. Finally, Hilltop National Bank boosted its holdings in shares of Reinsurance Group of America by 13.1% in the 2nd quarter. Hilltop National Bank now owns 706 shares of the insurance provider’s stock worth $145,000 after acquiring an additional 82 shares in the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.

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.