Citigroup Inc. Acquires 19,359 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Citigroup Inc. lifted its stake in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 32.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 79,230 shares of the insurance provider's stock after acquiring an additional 19,359 shares during the quarter. Citigroup Inc. owned approximately 0.12% of Reinsurance Group of America worth $17,262,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Armstrong Advisory Group Inc. bought a new stake in Reinsurance Group of America in the third quarter worth approximately $25,000. New Covenant Trust Company N.A. acquired a new position in Reinsurance Group of America during the first quarter worth $28,000. International Assets Investment Management LLC bought a new position in Reinsurance Group of America during the second quarter valued at about $28,000. Family Firm Inc. acquired a new stake in shares of Reinsurance Group of America in the second quarter worth about $29,000. Finally, LRI Investments LLC bought a new stake in shares of Reinsurance Group of America during the 1st quarter worth about $33,000. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Reinsurance Group of America Price Performance

Shares of RGA traded down $2.18 on Thursday, hitting $229.46. The company's stock had a trading volume of 276,545 shares, compared to its average volume of 355,501. The company has a 50 day moving average price of $220.07 and a 200 day moving average price of $213.53. Reinsurance Group of America, Incorporated has a fifty-two week low of $157.48 and a fifty-two week high of $233.81. The company has a market capitalization of $15.11 billion, a PE ratio of 21.07 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.17 and a quick ratio of 0.17.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced its earnings results on Thursday, October 31st. The insurance provider reported $6.13 EPS for the quarter, topping the consensus estimate of $5.31 by $0.82. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The company had revenue of $5.65 billion for the quarter, compared to analysts' expectations of $5.29 billion. During the same quarter in the prior year, the business earned $5.57 earnings per share. The business's revenue for the quarter was up 9.7% on a year-over-year basis. On average, research analysts anticipate that Reinsurance Group of America, Incorporated will post 21.93 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were given a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.55%. The ex-dividend date was Friday, November 8th. Reinsurance Group of America's payout ratio is presently 32.69%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on RGA shares. Keefe, Bruyette & Woods upgraded shares of Reinsurance Group of America from a "moderate buy" rating to a "strong-buy" rating in a research note on Thursday, October 3rd. Wells Fargo & Company boosted their price objective on Reinsurance Group of America from $239.00 to $244.00 and gave the stock an "overweight" rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. lifted their price target on Reinsurance Group of America from $220.00 to $222.00 and gave the stock a "neutral" rating in a research report on Thursday, October 3rd. Piper Sandler raised their price objective on shares of Reinsurance Group of America from $237.00 to $242.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 2nd. Finally, Barclays upped their target price on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the company an "overweight" rating in a research note on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $227.77.

Insider Transactions at Reinsurance Group of America

In other news, EVP William L. Hutton sold 1,209 shares of the business's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total transaction of $264,734.73. Following the completion of the sale, the executive vice president now owns 12,357 shares in the company, valued at $2,705,812.29. The trade was a 8.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.37% of the stock is owned by company insiders.

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.