Reinsurance Group of America (NYSE:RGA) Sets New 52-Week High After Better-Than-Expected Earnings

Shares of Reinsurance Group of America, Incorporated (NYSE:RGA) hit a new 52-week high during trading on Friday following a better than expected earnings announcement. The stock traded as high as $202.06 and last traded at $200.28, with a volume of 151700 shares traded. The stock had previously closed at $191.18.

The insurance provider reported $6.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $1.51. The firm had revenue of $6.34 billion during the quarter, compared to analyst estimates of $4.54 billion. Reinsurance Group of America had a return on equity of 16.49% and a net margin of 4.16%. During the same period last year, the company earned $5.16 EPS.

Reinsurance Group of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Monday, May 13th. Reinsurance Group of America’s dividend payout ratio is currently 26.42%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Reinsurance Group of America from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Evercore ISI lifted their price target on shares of Reinsurance Group of America from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Morgan Stanley increased their price objective on Reinsurance Group of America from $178.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Royal Bank of Canada restated an “outperform” rating and set a $212.00 price objective on shares of Reinsurance Group of America in a report on Friday, April 12th. Finally, JPMorgan Chase & Co. upped their target price on Reinsurance Group of America from $189.00 to $195.00 and gave the stock a “neutral” rating in a report on Friday. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $194.85.

Insider Buying and Selling at Reinsurance Group of America

In other news, CFO Todd C. Larson sold 2,966 shares of Reinsurance Group of America stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $182.88, for a total value of $542,422.08. Following the transaction, the chief financial officer now owns 49,549 shares of the company’s stock, valued at approximately $9,061,521.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP William L. Hutton sold 1,588 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $171.83, for a total transaction of $272,866.04. Following the transaction, the executive vice president now directly owns 13,625 shares of the company’s stock, valued at approximately $2,341,183.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Todd C. Larson sold 2,966 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $182.88, for a total value of $542,422.08. Following the completion of the sale, the chief financial officer now directly owns 49,549 shares of the company’s stock, valued at approximately $9,061,521.12. The disclosure for this sale can be found here. Insiders have sold 6,462 shares of company stock worth $1,162,239 over the last quarter. Insiders own 1.37% of the company’s stock.

Hedge Funds Weigh In On Reinsurance Group of America

Several hedge funds have recently modified their holdings of RGA. Lindbrook Capital LLC increased its position in shares of 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 period. Pineridge Advisors LLC acquired a new position in shares of Reinsurance Group of America in the fourth quarter valued at about $26,000. Rise Advisors LLC purchased a new position in shares of Reinsurance Group of America in the first quarter worth about $29,000. VisionPoint Advisory Group LLC lifted its holdings in shares of 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 purchasing an additional 114 shares during the period. Finally, Toth Financial Advisory Corp boosted its position in 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 buying an additional 70 shares during the last quarter. Institutional investors and hedge funds own 95.11% of the company’s stock.

Reinsurance Group of America Trading Up 5.5 %

The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.48. The stock has a market cap of $13.27 billion, a PE ratio of 15.67 and a beta of 0.88. The stock has a 50-day moving average of $186.60 and a 200 day moving average of $170.94.

About Reinsurance Group of America

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.