Occidental Asset Management LLC Acquires Shares of 5,960 Reinsurance Group of America, Incorporated (NYSE:RGA)

Occidental Asset Management LLC bought a new stake in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,960 shares of the insurance provider's stock, valued at approximately $1,299,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Armstrong Advisory Group Inc. purchased a new position in Reinsurance Group of America during the third quarter worth about $25,000. International Assets Investment Management LLC bought a new position in shares of Reinsurance Group of America in the second quarter valued at approximately $28,000. Family Firm Inc. purchased a new stake in shares of Reinsurance Group of America during the second quarter valued at approximately $29,000. New Covenant Trust Company N.A. bought a new stake in Reinsurance Group of America during the first quarter worth $28,000. Finally, Rise Advisors LLC purchased a new position in Reinsurance Group of America in the first quarter worth $29,000. Institutional investors own 95.11% of the company's stock.

Insider Buying and Selling

In related news, EVP William L. Hutton sold 1,209 shares of the firm's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total value 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.37% of the stock is owned by company insiders.

Analysts Set New Price Targets

RGA has been the topic of a number of recent research reports. Citigroup upped their price target on Reinsurance Group of America from $194.00 to $252.00 and gave the company a "buy" rating in a research report on Tuesday, July 23rd. Morgan Stanley dropped their price objective on shares of Reinsurance Group of America from $238.00 to $236.00 and set an "equal weight" rating on the stock in a report on Monday, August 19th. StockNews.com downgraded shares of Reinsurance Group of America from a "buy" rating to a "hold" rating in a research note on Wednesday, October 9th. Piper Sandler boosted their price target on shares of Reinsurance Group of America from $237.00 to $242.00 and gave the company an "overweight" rating in a research report on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods raised shares of Reinsurance Group of America from a "moderate buy" rating to a "strong-buy" rating in a report on Thursday, October 3rd. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $226.62.

Reinsurance Group of America Stock Performance

Shares of RGA traded down $0.84 on Tuesday, reaching $216.69. The company's stock had a trading volume of 290,755 shares, compared to its average volume of 356,857. The stock's 50 day simple moving average is $213.12 and its two-hundred day simple moving average is $206.92. 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 capitalization of $14.26 billion, a P/E ratio of 16.90 and a beta of 0.91. Reinsurance Group of America, Incorporated has a 12-month low of $144.74 and a 12-month high of $227.87.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, topping analysts' consensus estimates of $4.94 by $0.54. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. The business had revenue of $4.88 billion during the quarter, compared to analysts' expectations of $5.07 billion. During the same quarter in the prior year, the business posted $4.40 earnings per share. The business's quarterly revenue was up 17.4% on a year-over-year basis. Research analysts forecast that Reinsurance Group of America, Incorporated will post 21.72 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were paid a $0.89 dividend. The ex-dividend date was Friday, August 9th. This represents a $3.56 annualized dividend and a yield of 1.64%. This is a boost from Reinsurance Group of America's previous quarterly dividend of $0.85. Reinsurance Group of America's payout ratio is presently 27.66%.

Reinsurance Group of America Company 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.