Retirement Systems of Alabama raised its position in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 9.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 161,301 shares of the insurance provider's stock after acquiring an additional 13,596 shares during the period. Retirement Systems of Alabama owned approximately 0.24% of Reinsurance Group of America worth $35,143,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. WCM Investment Management LLC lifted its holdings in shares of Reinsurance Group of America by 1,208.5% during the 3rd quarter. WCM Investment Management LLC now owns 2,447,668 shares of the insurance provider's stock valued at $527,742,000 after purchasing an additional 2,260,605 shares during the last quarter. Zurich Insurance Group Ltd FI raised its stake in Reinsurance Group of America by 681.8% in the second quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider's stock valued at $104,244,000 after buying an additional 442,883 shares during the last quarter. Millennium Management LLC boosted its holdings in Reinsurance Group of America by 43.8% in the second quarter. Millennium Management LLC now owns 437,266 shares of the insurance provider's stock worth $89,758,000 after acquiring an additional 133,212 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Reinsurance Group of America during the third quarter valued at about $11,803,000. Finally, Earnest Partners LLC raised its position in shares of Reinsurance Group of America by 1.9% in the 2nd quarter. Earnest Partners LLC now owns 2,628,129 shares of the insurance provider's stock valued at $539,476,000 after purchasing an additional 50,228 shares during the last quarter. 95.11% of the stock is owned by hedge funds and other institutional investors.
Reinsurance Group of America Stock Performance
Shares of NYSE RGA traded up $0.94 during midday trading on Friday, reaching $212.27. 496,446 shares of the stock were exchanged, compared to its average volume of 355,613. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.45. The firm has a 50-day simple moving average of $220.22 and a two-hundred day simple moving average of $214.23. Reinsurance Group of America, Incorporated has a twelve month low of $157.48 and a twelve month high of $233.81. The firm has a market cap of $13.98 billion, a price-to-earnings ratio of 19.49 and a beta of 0.93.
Reinsurance Group of America (NYSE:RGA - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The insurance provider reported $6.13 earnings per share for the quarter, beating analysts' consensus estimates of $5.31 by $0.82. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%. 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 company earned $5.57 earnings per share. The firm's revenue for the quarter was up 9.7% on a year-over-year basis. As a group, analysts anticipate that Reinsurance Group of America, Incorporated will post 21.67 EPS for the current fiscal year.
Reinsurance Group of America Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were issued a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend was Friday, November 8th. Reinsurance Group of America's payout ratio is currently 32.69%.
Wall Street Analysts Forecast Growth
RGA has been the topic of several research analyst reports. Barclays boosted their target price on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Friday, November 22nd. StockNews.com raised Reinsurance Group of America from a "hold" rating to a "buy" rating in a research report on Thursday, October 17th. Piper Sandler lifted their price target on Reinsurance Group of America from $237.00 to $242.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods raised Reinsurance Group of America from a "moderate buy" rating to a "strong-buy" rating in a report on Thursday, October 3rd. Finally, Raymond James raised their price objective on Reinsurance Group of America from $228.00 to $250.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, September 24th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Reinsurance Group of America currently has a consensus rating of "Moderate Buy" and a consensus price target of $227.77.
View Our Latest Research Report on RGA
Insider Activity
In related news, EVP William L. Hutton sold 1,209 shares of Reinsurance Group of America stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $218.97, for a total value of $264,734.73. Following the sale, the executive vice president now owns 12,357 shares of the company's stock, valued at approximately $2,705,812.29. This trade represents a 8.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.37% of the company's stock.
Reinsurance Group of America Profile
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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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