Reinsurance Group of America (NYSE:RGA) Reaches New 12-Month High – Should You Buy?

Shares of Reinsurance Group of America, Incorporated (NYSE:RGA) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $234.37 and last traded at $234.5520, with a volume of 4662 shares. The stock had previously closed at $231.16.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RGA. Barclays raised their price target on shares of Reinsurance Group of America from $268.00 to $278.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Evercore reaffirmed an “outperform” rating and set a $267.00 price objective on shares of Reinsurance Group of America in a report on Monday, May 18th. Wells Fargo & Company increased their price objective on Reinsurance Group of America from $261.00 to $269.00 and gave the company an “overweight” rating in a research report on Thursday. Wall Street Zen raised Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, JPMorgan Chase & Co. boosted their target price on Reinsurance Group of America from $264.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Seven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the 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 $255.50.

Reinsurance Group of America Stock Up 1.5%

The firm’s 50 day moving average price is $211.50 and its 200-day moving average price is $208.57. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46. The company has a market cap of $15.38 billion, a P/E ratio of 12.72 and a beta of 0.47.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Thursday, May 7th. The insurance provider reported $6.97 earnings per share for the quarter, topping analysts’ consensus estimates of $6.03 by $0.94. Reinsurance Group of America had a net margin of 4.92% and a return on equity of 13.16%. The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.47 billion. During the same period in the previous year, the firm posted $5.66 earnings per share. Reinsurance Group of America’s revenue for the quarter was up 23.5% compared to the same quarter last year. As a group, equities research analysts expect that Reinsurance Group of America, Incorporated will post 26.86 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 19th were issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Tuesday, May 19th. Reinsurance Group of America’s payout ratio is currently 20.15%.

Insider Buying and Selling at Reinsurance Group of America

In other Reinsurance Group of America news, EVP John W. Hayden sold 414 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $214.95, for a total transaction of $88,989.30. Following the completion of the sale, the executive vice president owned 20,949 shares in the company, valued at approximately $4,502,987.55. The trade was a 1.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Ronald Herrmann sold 7,000 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $210.58, for a total value of $1,474,060.00. Following the completion of the transaction, the executive vice president directly owned 3,938 shares in the company, valued at approximately $829,264.04. This trade represents a 64.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Reinsurance Group of America

Hedge funds have recently added to or reduced their stakes in the stock. Activest Wealth Management bought a new position in Reinsurance Group of America during the fourth quarter worth about $30,000. Tobam increased its stake in shares of 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 acquiring an additional 115 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Reinsurance Group of America in the 4th quarter valued at about $35,000. Entrust Financial LLC acquired a new stake in shares of Reinsurance Group of America in the 4th quarter valued at approximately $40,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Reinsurance Group of America in the 3rd quarter valued at approximately $38,000. 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.