Reinsurance Group of America (NYSE:RGA) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Reinsurance Group of America, Incorporated (NYSE:RGA) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $214.72 and traded as high as $215.10. Reinsurance Group of America shares last traded at $213.63, with a volume of 401,322 shares changing hands.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on RGA shares. Piper Sandler lifted their target price on Reinsurance Group of America from $237.00 to $242.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Raymond James raised their price target on Reinsurance Group of America from $228.00 to $250.00 and gave the company a “strong-buy” rating in a report on Tuesday, September 24th. Wells Fargo & Company upped their price objective on Reinsurance Group of America from $239.00 to $244.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. StockNews.com raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a 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 note on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Reinsurance Group of America presently has a consensus rating of “Moderate Buy” and an average target price of $227.77.

Reinsurance Group of America Price Performance

The stock’s 50-day moving average is $218.74 and its two-hundred day moving average is $214.72. The company has a market capitalization of $14.07 billion, a PE ratio of 19.62 and a beta of 0.93. 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) last issued its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.31 by $0.82. The firm had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.29 billion. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. Reinsurance Group of America’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company earned $5.57 EPS. On average, equities analysts predict that Reinsurance Group of America, Incorporated will post 21.67 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date was Friday, November 8th. Reinsurance Group of America’s dividend payout ratio is currently 32.69%.

Institutional Investors Weigh In On Reinsurance Group of America

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Armstrong Advisory Group Inc. bought a new position in Reinsurance Group of America in the 3rd quarter worth about $25,000. International Assets Investment Management LLC purchased a new stake in shares of Reinsurance Group of America in the second quarter valued at approximately $28,000. Private Trust Co. NA grew its stake 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 worth $34,000 after purchasing an additional 120 shares in the last quarter. Wolff Wiese Magana LLC purchased a new position in Reinsurance Group of America during the 3rd quarter worth $34,000. Finally, Strengthening Families & Communities LLC bought a new stake in Reinsurance Group of America during the 3rd quarter valued at $36,000. Institutional investors own 95.11% of the company’s stock.

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.