Eagle Asset Management Inc. Grows Stock Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Eagle Asset Management Inc. boosted its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 15.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 112,901 shares of the insurance provider's stock after acquiring an additional 15,289 shares during the quarter. Eagle Asset Management Inc. owned about 0.17% of Reinsurance Group of America worth $25,297,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Armstrong Advisory Group Inc. acquired a new stake in shares of Reinsurance Group of America in the 3rd quarter valued at $25,000. New Covenant Trust Company N.A. acquired a new stake in Reinsurance Group of America during the first quarter worth approximately $28,000. International Assets Investment Management LLC acquired a new position in shares of Reinsurance Group of America in the 2nd quarter valued at $28,000. Family Firm Inc. acquired a new position in shares of Reinsurance Group of America in the 2nd quarter valued at $29,000. Finally, LRI Investments LLC acquired a new stake in Reinsurance Group of America during the 1st quarter worth $33,000. Institutional investors and hedge funds own 95.11% of the company's stock.

Insider Buying and Selling

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the business's stock in a transaction that occurred on Monday, September 23rd. The shares were 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 directly 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.37% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RGA. Wells Fargo & Company lifted their target price on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. JPMorgan Chase & Co. increased their target price on Reinsurance Group of America from $220.00 to $222.00 and gave the stock a "neutral" rating in a research note on Thursday, October 3rd. Barclays increased their price objective on Reinsurance Group of America from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Friday. StockNews.com upgraded shares of Reinsurance Group of America from a "hold" rating to a "buy" rating in a research report on Thursday, October 17th. Finally, TD Cowen assumed 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 target price on the stock. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $227.77.

Reinsurance Group of America Trading Up 0.7 %

Shares of RGA stock traded up $1.53 during mid-day trading on Friday, hitting $230.70. 427,662 shares of the company's stock were exchanged, compared to its average volume of 363,319. The stock has a market cap of $15.19 billion, a price-to-earnings ratio of 21.18 and a beta of 0.92. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.45. Reinsurance Group of America, Incorporated has a fifty-two week low of $157.48 and a fifty-two week high of $233.14. The stock has a 50-day simple moving average of $219.09 and a two-hundred day simple moving average of $212.92.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 EPS for the quarter, beating 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 during the quarter, compared to analysts' expectations of $5.29 billion. During the same quarter in the previous year, the business earned $5.57 EPS. The firm's revenue was up 9.7% on a year-over-year basis. Equities analysts expect that Reinsurance Group of America, Incorporated will post 21.93 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.89 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.54%. Reinsurance Group of America's payout ratio is 32.69%.

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.