Earnest Partners LLC Purchases 50,228 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Earnest Partners LLC increased its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 1.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,628,129 shares of the insurance provider's stock after purchasing an additional 50,228 shares during the period. Reinsurance Group of America comprises about 2.5% of Earnest Partners LLC's investment portfolio, making the stock its largest position. Earnest Partners LLC owned about 3.99% of Reinsurance Group of America worth $539,476,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. GHP Investment Advisors Inc. lifted its stake in Reinsurance Group of America by 0.7% during the second 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 period. Covestor Ltd boosted its stake in Reinsurance Group of America by 20.3% in the 1st quarter. Covestor Ltd now owns 374 shares of the insurance provider's stock valued at $72,000 after buying an additional 63 shares in the last quarter. Fiduciary Family Office LLC boosted its stake in Reinsurance Group of America by 3.1% in the 2nd quarter. Fiduciary Family Office LLC now owns 2,550 shares of the insurance provider's stock valued at $523,000 after buying an additional 76 shares in the last quarter. GAMMA Investing LLC grew its position in Reinsurance Group of America by 16.5% in the second quarter. GAMMA Investing LLC now owns 559 shares of the insurance provider's stock valued at $115,000 after acquiring an additional 79 shares during the period. Finally, Hilltop National Bank raised its stake in Reinsurance Group of America by 13.1% during the second quarter. Hilltop National Bank now owns 706 shares of the insurance provider's stock worth $145,000 after acquiring an additional 82 shares in the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Reinsurance Group of America

In related news, EVP William L. Hutton sold 1,209 shares of Reinsurance Group of America 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 transaction, the executive vice president now owns 12,357 shares of the company's stock, valued at approximately $2,705,812.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.37% of the company's stock.

Reinsurance Group of America Trading Down 0.1 %

Shares of NYSE RGA traded down $0.23 during mid-day trading on Thursday, hitting $218.43. The company's stock had a trading volume of 230,478 shares, compared to its average volume of 357,018. Reinsurance Group of America, Incorporated has a one year low of $140.39 and a one year high of $227.87. The company's fifty day simple moving average is $213.26 and its 200-day simple moving average is $204.16. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.17 and a quick ratio of 0.17. The stock has a market cap of $14.37 billion, a price-to-earnings ratio of 16.92 and a beta of 0.91.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.94 by $0.54. The firm had revenue of $4.88 billion for the quarter, compared to analysts' expectations of $5.07 billion. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The business's revenue for the quarter was up 17.4% on a year-over-year basis. During the same period last year, the firm earned $4.40 earnings per share. On average, sell-side analysts anticipate that Reinsurance Group of America, Incorporated will post 21.7 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date was Friday, August 9th. This is an increase from Reinsurance Group of America's previous quarterly dividend of $0.85. Reinsurance Group of America's dividend payout ratio is currently 27.66%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on RGA shares. Piper Sandler upped their target price on shares of Reinsurance Group of America from $228.00 to $235.00 and gave the stock an "overweight" rating in a report on Friday, June 28th. Jefferies Financial Group raised their price objective on shares of Reinsurance Group of America from $63.00 to $64.00 and gave the stock a "buy" rating in a report on Wednesday, July 10th. Royal Bank of Canada boosted their target price on Reinsurance Group of America from $225.00 to $235.00 and gave the stock an "outperform" rating in a report on Monday, August 5th. Citigroup raised their price target on Reinsurance Group of America from $194.00 to $252.00 and gave the company a "buy" rating in a report on Tuesday, July 23rd. Finally, Barclays started coverage on Reinsurance Group of America in a research report on Wednesday, September 4th. They issued an "overweight" rating and a $255.00 price objective for the company. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $225.17.

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.