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

Reinsurance Group of America, Incorporated (NYSE:RGA) shares reached a new 52-week high on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $202.06 and last traded at $200.28, with a volume of 151700 shares changing hands. The stock had previously closed at $191.18.

The insurance provider reported $6.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $1.51. Reinsurance Group of America had a return on equity of 16.20% and a net margin of 4.86%. The company had revenue of $6.34 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same quarter last year, the company posted $5.16 earnings per share.

Reinsurance Group of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.69%. The ex-dividend date is Monday, May 13th. Reinsurance Group of America’s dividend payout ratio (DPR) is 25.32%.

Analysts Set New Price Targets

RGA has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of Reinsurance Group of America from $189.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday. Keefe, Bruyette & Woods raised their price objective on shares of Reinsurance Group of America from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Morgan Stanley lifted their price objective on shares of Reinsurance Group of America from $178.00 to $185.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Wells Fargo & Company increased their target price on shares of Reinsurance Group of America from $193.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $212.00 price target on shares of Reinsurance Group of America in a research report on Friday, April 12th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $194.85.

Insider Transactions at Reinsurance Group of America

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,588 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $171.83, for a total value of $272,866.04. Following the completion of the transaction, the executive vice president now owns 13,625 shares in the company, valued at $2,341,183.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP William L. Hutton sold 1,588 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $171.83, for a total transaction of $272,866.04. Following the sale, the executive vice president now owns 13,625 shares of the company’s stock, valued at $2,341,183.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP William L. Hutton sold 1,908 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $181.84, for a total transaction of $346,950.72. Following the transaction, the executive vice president now owns 13,363 shares in the company, valued at $2,429,927.92. The disclosure for this sale can be found here. In the last three months, insiders sold 6,462 shares of company stock valued at $1,162,239. Corporate insiders own 1.37% of the company’s stock.

Hedge Funds Weigh In On Reinsurance Group of America

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rise Advisors LLC acquired a new stake in Reinsurance Group of America in the first quarter valued at $29,000. Lindbrook Capital LLC grew its stake in Reinsurance Group of America by 129.9% in the 4th quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 87 shares during the last quarter. Pineridge Advisors LLC purchased a new position in Reinsurance Group of America during the 4th quarter valued at about $26,000. VisionPoint Advisory Group LLC raised its position in Reinsurance Group of America by 116.3% during the third quarter. VisionPoint Advisory Group LLC now owns 212 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 114 shares during the last quarter. Finally, Toth Financial Advisory Corp lifted its holdings in shares of Reinsurance Group of America by 41.2% in the fourth quarter. Toth Financial Advisory Corp now owns 240 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 70 shares in the last quarter. 95.11% of the stock is owned by institutional investors and hedge funds.

Reinsurance Group of America Stock Up 5.5 %

The company has a debt-to-equity ratio of 0.48, a current ratio of 0.17 and a quick ratio of 0.17. The firm’s 50-day moving average price is $186.04 and its 200 day moving average price is $170.47. The firm has a market capitalization of $13.27 billion, a price-to-earnings ratio of 15.01 and a beta of 0.88.

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.