Reinsurance Group of America (NYSE:RGA) Hits New 1-Year High Following Analyst Upgrade

Shares of Reinsurance Group of America, Incorporated (NYSE:RGA) hit a new 52-week high 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 research firms have also weighed in on RGA. TD Cowen started coverage on shares of Reinsurance Group of America in a research note on Wednesday, October 9th. They issued a “hold” rating and a $235.00 price objective for the company. Piper Sandler boosted their price target on shares of Reinsurance Group of America from $237.00 to $242.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods upgraded shares of Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, October 3rd. StockNews.com raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Finally, Wells Fargo & Company increased their target price on Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Reinsurance Group of America presently has an average rating of “Moderate Buy” and a consensus target price of $227.77.

Insider Buying and Selling

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.37% of the stock is owned by company insiders.

Institutional Investors Weigh In On Reinsurance Group of America

Large investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its position in Reinsurance Group of America by 8.9% during the 3rd quarter. GAMMA Investing LLC now owns 609 shares of the insurance provider’s stock worth $133,000 after acquiring an additional 50 shares during the period. Resonant Capital Advisors LLC lifted its holdings in shares of Reinsurance Group of America by 1.2% during the third quarter. Resonant Capital Advisors LLC now owns 4,368 shares of the insurance provider’s stock worth $952,000 after purchasing an additional 53 shares during the period. GHP Investment Advisors Inc. boosted its position in Reinsurance Group of America by 0.7% in the second quarter. GHP Investment Advisors Inc. now owns 9,462 shares of the insurance provider’s stock valued at $1,942,000 after buying an additional 62 shares during the last quarter. Baron Wealth Management LLC increased its holdings in Reinsurance Group of America by 4.5% in the 3rd quarter. Baron Wealth Management LLC now owns 1,485 shares of the insurance provider’s stock worth $324,000 after buying an additional 64 shares during the period. Finally, Tectonic Advisors LLC raised its position in Reinsurance Group of America by 3.0% during the 3rd quarter. Tectonic Advisors LLC now owns 2,358 shares of the insurance provider’s stock worth $514,000 after buying an additional 69 shares during the last quarter. 95.11% of the stock is owned by hedge funds and other institutional investors.

Reinsurance Group of America Stock Performance

The firm’s 50 day simple moving average is $219.64 and its 200 day simple moving average is $213.30. The firm has a market capitalization of $15.25 billion, a price-to-earnings ratio of 21.27 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.17 and a current ratio of 0.17.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results 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 company 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%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm posted $5.57 earnings per share. Sell-side analysts forecast that Reinsurance Group of America, Incorporated will post 21.93 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.54%. The ex-dividend date was Friday, November 8th. Reinsurance Group of America’s dividend payout ratio (DPR) is 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.