Reinsurance Group of America (NYSE:RGA) Sets New 12-Month High - Here's What Happened

Reinsurance Group of America, Incorporated (NYSE:RGA - Get Free Report)'s share price hit a new 52-week high on Monday . The stock traded as high as $229.41 and last traded at $229.05, with a volume of 22411 shares traded. The stock had previously closed at $224.06.

Analyst Ratings Changes

Several research analysts recently weighed in on RGA shares. Wells Fargo & Company increased their price objective on Reinsurance Group of America from $239.00 to $244.00 and gave the stock an "overweight" rating in a research report on Thursday, October 10th. StockNews.com upgraded Reinsurance Group of America from a "hold" rating to a "buy" rating in a report on Thursday, October 17th. Barclays cut their price target on Reinsurance Group of America from $255.00 to $250.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 8th. TD Cowen initiated coverage on Reinsurance Group of America in a research note on Wednesday, October 9th. They issued a "hold" rating and a $235.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their target price on Reinsurance Group of America from $220.00 to $222.00 and gave the stock a "neutral" rating in a research report on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Reinsurance Group of America currently has a consensus rating of "Moderate Buy" and an average price target of $227.38.

Reinsurance Group of America Stock Up 1.9 %

The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.17 and a current ratio of 0.17. The firm has a fifty day moving average price of $216.09 and a 200 day moving average price of $210.54. The firm has a market capitalization of $15.03 billion, a price-to-earnings ratio of 21.01 and a beta of 0.92.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 EPS for the quarter, beating the consensus estimate of $5.31 by $0.82. The business had revenue of $5.65 billion during the quarter, compared to analysts' expectations of $5.29 billion. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The company's quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the firm earned $5.57 EPS. As a group, sell-side analysts expect that Reinsurance Group of America, Incorporated will post 21.93 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.56%. The ex-dividend date is Friday, November 8th. Reinsurance Group of America's payout ratio is currently 32.69%.

Insider Activity at Reinsurance Group of America

In related news, EVP William L. Hutton sold 1,209 shares of the firm's stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total value of $264,734.73. Following the completion of the transaction, the executive vice president now directly owns 12,357 shares of the company's stock, valued at $2,705,812.29. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 bought and sold shares of the stock. First Horizon Advisors Inc. increased its position in Reinsurance Group of America by 105.3% during the third quarter. First Horizon Advisors Inc. now owns 312 shares of the insurance provider's stock worth $68,000 after buying an additional 160 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Reinsurance Group of America during the third quarter worth $11,803,000. Tranquility Partners LLC purchased a new position in Reinsurance Group of America during the third quarter worth $200,000. Caprock Group LLC purchased a new position in Reinsurance Group of America during the third quarter worth $238,000. Finally, Pathstone Holdings LLC increased its position in Reinsurance Group of America by 2.5% during the third quarter. Pathstone Holdings LLC now owns 25,052 shares of the insurance provider's stock worth $5,458,000 after buying an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 95.11% of the company's stock.

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.