Bank of Montreal Can Increases Stock Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Bank of Montreal Can lifted its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 146.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,409 shares of the insurance provider's stock after purchasing an additional 45,972 shares during the period. Bank of Montreal Can owned about 0.12% of Reinsurance Group of America worth $16,690,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its position in shares of Reinsurance Group of America by 8.9% in the third quarter. GAMMA Investing LLC now owns 609 shares of the insurance provider's stock valued at $133,000 after buying an additional 50 shares during the last quarter. Resonant Capital Advisors LLC lifted its stake in Reinsurance Group of America by 1.2% in the 3rd quarter. Resonant Capital Advisors LLC now owns 4,368 shares of the insurance provider's stock worth $952,000 after purchasing an additional 53 shares in the last quarter. GHP Investment Advisors Inc. boosted its holdings in shares of Reinsurance Group of America by 0.7% during the 2nd quarter. GHP Investment Advisors Inc. now owns 9,462 shares of the insurance provider's stock worth $1,942,000 after purchasing an additional 62 shares during the last quarter. Baron Wealth Management LLC grew its position in shares of Reinsurance Group of America by 4.5% in the third quarter. Baron Wealth Management LLC now owns 1,485 shares of the insurance provider's stock valued at $324,000 after purchasing an additional 64 shares in the last quarter. Finally, Tectonic Advisors LLC increased its holdings in shares of Reinsurance Group of America by 3.0% in the third quarter. Tectonic Advisors LLC now owns 2,358 shares of the insurance provider's stock valued at $514,000 after purchasing an additional 69 shares during the last quarter. 95.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on RGA. Morgan Stanley lowered their price objective on Reinsurance Group of America from $238.00 to $236.00 and set an "equal weight" rating on the stock in a research note on Monday, August 19th. TD Cowen initiated coverage on shares of Reinsurance Group of America in a research report on Wednesday, October 9th. They set a "hold" rating and a $235.00 price target on the stock. Raymond James raised their price objective on shares of Reinsurance Group of America from $228.00 to $250.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, September 24th. Piper Sandler boosted their target price on shares of Reinsurance Group of America from $237.00 to $242.00 and gave the company an "overweight" rating in a report on Wednesday, October 2nd. Finally, Barclays raised their price target on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the stock an "overweight" rating in a report on Friday, November 22nd. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $227.77.

Reinsurance Group of America Trading Down 0.5 %

Reinsurance Group of America stock traded down $1.06 during midday trading on Friday, reaching $228.40. 227,007 shares of the stock traded hands, compared to its average volume of 351,905. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.45. The firm has a market cap of $15.04 billion, a PE ratio of 20.97 and a beta of 0.92. The company has a 50-day simple moving average of $220.25 and a two-hundred day simple moving average of $213.76. Reinsurance Group of America, Incorporated has a 12-month low of $157.48 and a 12-month high of $233.81.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced its earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share for the quarter, topping the consensus estimate of $5.31 by $0.82. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%. The firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.29 billion. During the same period in the prior year, the firm earned $5.57 EPS. The firm's revenue for the quarter was up 9.7% on a year-over-year basis. Research analysts expect that Reinsurance Group of America, Incorporated will post 21.67 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were paid a dividend of $0.89 per share. The ex-dividend date was Friday, November 8th. This represents a $3.56 annualized dividend and a yield of 1.56%. Reinsurance Group of America's payout ratio is 32.69%.

Insiders Place Their Bets

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $218.97, for a total value of $264,734.73. Following the sale, the executive vice president now directly owns 12,357 shares of the company's stock, valued at approximately $2,705,812.29. This represents a 8.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.37% of the stock is owned by company insiders.

Reinsurance Group of America 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.