International Assets Investment Management LLC grew its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 23,595.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,463 shares of the insurance provider's stock after buying an additional 32,326 shares during the quarter. International Assets Investment Management LLC's holdings in Reinsurance Group of America were worth $7,073,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in RGA. GAMMA Investing LLC lifted its holdings in Reinsurance Group of America by 8.9% in the third quarter. GAMMA Investing LLC now owns 609 shares of the insurance provider's stock valued at $133,000 after acquiring an additional 50 shares during the period. Resonant Capital Advisors LLC boosted its position in Reinsurance Group of America by 1.2% during the third quarter. Resonant Capital Advisors LLC now owns 4,368 shares of the insurance provider's stock worth $952,000 after purchasing an additional 53 shares in the last quarter. GHP Investment Advisors Inc. grew its stake in Reinsurance Group of America by 0.7% in the 2nd quarter. GHP Investment Advisors Inc. now owns 9,462 shares of the insurance provider's stock valued at $1,942,000 after acquiring an additional 62 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Reinsurance Group of America by 20.3% in the first quarter. Covestor Ltd now owns 374 shares of the insurance provider's stock valued at $72,000 after purchasing an additional 63 shares in the last quarter. Finally, First Citizens Bank & Trust Co. grew its position in shares of Reinsurance Group of America by 5.7% in the third quarter. First Citizens Bank & Trust Co. now owns 1,401 shares of the insurance provider's stock valued at $305,000 after purchasing an additional 75 shares during the last quarter. Institutional investors and hedge funds own 95.11% of the company's stock.
Insider Activity at Reinsurance Group of America
In other news, EVP William L. Hutton sold 1,209 shares of the stock in a transaction dated 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 owns 12,357 shares in the company, valued at approximately $2,705,812.29. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.37% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on the company. Piper Sandler upped their target price on Reinsurance Group of America from $237.00 to $242.00 and gave the company an "overweight" rating in a research note on Wednesday, October 2nd. StockNews.com upgraded Reinsurance Group of America from a "hold" rating to a "buy" rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. lifted their price objective 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. TD Cowen initiated coverage on shares of Reinsurance Group of America in a report on Wednesday, October 9th. They issued a "hold" rating and a $235.00 target price on the stock. Finally, Wells Fargo & Company upped their price objective on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the company an "overweight" rating in a research note on Thursday, October 10th. 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $226.62.
Get Our Latest Research Report on Reinsurance Group of America
Reinsurance Group of America Trading Up 1.9 %
RGA stock traded up $4.02 during trading on Friday, reaching $215.10. 824,221 shares of the stock traded hands, compared to its average volume of 356,379. The firm has a market capitalization of $14.17 billion, a PE ratio of 16.41 and a beta of 0.91. 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 business's 50 day moving average price is $215.65 and its 200-day moving average price is $208.79. Reinsurance Group of America, Incorporated has a 52-week low of $146.16 and a 52-week high of $227.87.
Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.11 by $1.02. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. The business 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 company's revenue for the quarter was up 9.7% on a year-over-year basis. As a group, sell-side analysts forecast that Reinsurance Group of America, Incorporated will post 21.8 earnings per share for the current year.
Reinsurance Group of America Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.66%. Reinsurance Group of America's dividend payout ratio is presently 27.70%.
About Reinsurance Group of America
(
Free Report)
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.
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