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 on Thursday. The company traded as high as $258.53 and last traded at $256.99, with a volume of 310,385 shares trading hands. The stock had previously closed at $251.53.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. UBS Group upgraded shares of Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. Wells Fargo & Company lifted their price objective on Reinsurance Group of America from $269.00 to $291.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Weiss Ratings restated a “buy (b)” rating on shares of Reinsurance Group of America in a research note on Friday, August 7th. Morgan Stanley raised shares of Reinsurance Group of America from an “equal weight” rating to an “overweight” rating and set a $295.00 target price on the stock in a report on Monday, September 28th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Reinsurance Group of America from $286.00 to $293.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $267.78.

Reinsurance Group of America Stock Up 0.1%

The firm has a market cap of $16.72 billion, a PE ratio of 11.25 and a beta of 0.45. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.14 and a current ratio of 0.14. The firm’s 50-day moving average price is $246.95 and its two-hundred day moving average price is $225.74.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, August 6th. The insurance provider reported $8.89 EPS for the quarter, beating analysts’ consensus estimates of $6.50 by $2.39. Reinsurance Group of America had a net margin of 5.81% and a return on equity of 14.78%. The firm had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.67 billion. During the same period last year, the firm posted $4.72 EPS. The company’s revenue was up 18.5% on a year-over-year basis. As a group, equities research analysts expect that Reinsurance Group of America, Incorporated will post 29.71 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th were issued a dividend of $0.98 per share. The ex-dividend date of this dividend was Tuesday, August 18th. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.93. This represents a $3.92 annualized dividend and a dividend yield of 1.5%. Reinsurance Group of America’s dividend payout ratio is 17.22%.

Insider Activity at Reinsurance Group of America

In other news, EVP Jonathan Porter sold 8,589 shares of the business’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $246.30, for a total value of $2,115,470.70. Following the completion of the sale, the executive vice president directly owned 14,885 shares of the company’s stock, valued at approximately $3,666,175.50. The trade was a 36.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RGA. Tobam raised its holdings in Reinsurance Group of America by 244.7% during the fourth quarter. Tobam now owns 162 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 115 shares in the last quarter. Whipplewood Advisors LLC boosted its holdings in Reinsurance Group of America by 4,400.0% in the 1st quarter. Whipplewood Advisors LLC now owns 225 shares of the insurance provider’s stock valued at $46,000 after purchasing an additional 220 shares in the last quarter. Millstone Evans Group LLC boosted its holdings in Reinsurance Group of America by 77.0% in the 1st quarter. Millstone Evans Group LLC now owns 239 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 104 shares in the last quarter. Wick Capital Partners LLC acquired a new position in Reinsurance Group of America during the 4th quarter worth approximately $51,000. Finally, Kelly Lawrence W & Associates Inc. CA acquired a new position in Reinsurance Group of America during the 2nd quarter worth approximately $53,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated (NYSE:RGA) is a global provider of life and health reinsurance. The company helps insurance organizations manage mortality, longevity, morbidity and other insurance risks by assuming portions of their business and providing capital, risk-management expertise and specialized underwriting support.

RGA offers traditional reinsurance and financial solutions for individual life insurance, group life and health coverage, retirement and annuity products, long-term care and disability insurance.