28,500 Shares in Reinsurance Group of America, Incorporated (NYSE:RGA) Acquired by Claro Advisors LLC

Claro Advisors LLC purchased a new stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 28,500 shares of the insurance provider's stock, valued at approximately $6,209,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. purchased a new stake in Reinsurance Group of America during the first quarter valued at about $675,000. Price T Rowe Associates Inc. MD boosted its position in shares of Reinsurance Group of America by 22.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 143,178 shares of the insurance provider's stock worth $27,617,000 after buying an additional 26,306 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Reinsurance Group of America by 50.9% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 7,486 shares of the insurance provider's stock worth $1,459,000 after buying an additional 2,524 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Reinsurance Group of America by 57.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 232,773 shares of the insurance provider's stock worth $44,897,000 after buying an additional 84,647 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of Reinsurance Group of America by 5.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 67,400 shares of the insurance provider's stock worth $13,000,000 after buying an additional 3,247 shares during the period. Hedge funds and other institutional investors own 95.11% of the company's stock.

Insider Activity

In other news, EVP William L. Hutton sold 1,209 shares of the company's stock in a transaction that occurred 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 transaction, 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.37% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RGA. Raymond James upped their target price on 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. StockNews.com raised Reinsurance Group of America from a "hold" rating to a "buy" rating in a research report on Thursday. Keefe, Bruyette & Woods raised Reinsurance Group of America from a "moderate buy" rating to a "strong-buy" rating in a research report on Thursday, October 3rd. Citigroup boosted their price target on Reinsurance Group of America from $194.00 to $252.00 and gave the stock a "buy" rating in a research note on Tuesday, July 23rd. Finally, Barclays cut their price target on Reinsurance Group of America from $255.00 to $250.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $226.62.

Reinsurance Group of America Stock Down 1.0 %

NYSE RGA traded down $2.30 on Friday, hitting $216.82. 215,987 shares of the stock traded hands, compared to its average volume of 356,246. The stock has a 50-day moving average of $214.28 and a 200 day moving average of $207.25. Reinsurance Group of America, Incorporated has a twelve month low of $144.74 and a twelve month high of $227.87. The company has a market capitalization of $14.28 billion, a P/E ratio of 17.05 and a beta of 0.91. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.52.

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 the consensus estimate 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 return on equity of 15.84% and a net margin of 4.01%. Reinsurance Group of America's revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.40 earnings per share. As a group, analysts expect that Reinsurance Group of America, Incorporated will post 21.8 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were issued a dividend of $0.89 per share. The ex-dividend date of this dividend was Friday, August 9th. This is a positive change from Reinsurance Group of America's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 1.64%. Reinsurance Group of America's dividend payout ratio is 27.70%.

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.