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

Reinsurance Group of America, Incorporated (NYSE:RGA - Get Free Report) 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.

Other equities research analysts have also recently issued research reports about the company. TD Cowen assumed coverage on Reinsurance Group of America in a report on Wednesday, October 9th. They set a "hold" rating and a $235.00 price objective on the stock. Wells Fargo & Company lifted their price target on Reinsurance Group of America from $239.00 to $244.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. Morgan Stanley cut their price objective on shares of Reinsurance Group of America from $238.00 to $236.00 and set an "equal weight" rating on the stock in a report on Monday, August 19th. StockNews.com raised shares of Reinsurance Group of America from a "hold" rating to a "buy" rating in a research report on Thursday, October 17th. Finally, Keefe, Bruyette & Woods raised shares of Reinsurance Group of America from a "moderate buy" rating to a "strong-buy" rating in a research report on Thursday, October 3rd. Three 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. Based on data from MarketBeat, Reinsurance Group of America presently has an average rating of "Moderate Buy" and an average target price of $227.77.

Insider Transactions at Reinsurance Group of America

In related news, EVP William L. Hutton sold 1,209 shares of the firm's stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $218.97, for a total transaction of $264,734.73. Following the sale, the executive vice president now directly owns 12,357 shares in the company, valued at approximately $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 can be accessed through this link. Company insiders own 1.37% of the company's stock.

Institutional Trading of Reinsurance Group of America

Large investors have recently bought and sold shares of the company. Armstrong Advisory Group Inc. purchased a new position in shares of Reinsurance Group of America in the third quarter valued at $25,000. International Assets Investment Management LLC acquired a new stake in shares of Reinsurance Group of America during the second quarter valued at about $28,000. Family Firm Inc. purchased a new stake in shares of Reinsurance Group of America during the second quarter worth about $29,000. New Covenant Trust Company N.A. acquired a new position in shares of Reinsurance Group of America in the first quarter worth about $28,000. Finally, Private Trust Co. NA boosted its holdings in Reinsurance Group of America by 333.3% in the third quarter. Private Trust Co. NA now owns 156 shares of the insurance provider's stock valued at $34,000 after purchasing an additional 120 shares during the last quarter. Institutional investors and hedge funds own 95.11% of the company's stock.

Reinsurance Group of America Trading Up 0.3 %

The business has a 50 day simple moving average of $219.09 and a two-hundred day simple moving average of $212.96. The stock has a market cap of $15.24 billion, a price-to-earnings ratio of 21.18 and a beta of 0.92. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.45.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share for the quarter, topping analysts' consensus estimates 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%. The business's quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the company earned $5.57 earnings per share. As a group, equities analysts anticipate that Reinsurance Group of America, Incorporated will post 21.93 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently announced 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 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 dividend payout ratio (DPR) 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.