Summit Global Investments Buys 11,495 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Summit Global Investments grew its position in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 177.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,989 shares of the insurance provider's stock after buying an additional 11,495 shares during the quarter. Summit Global Investments' holdings in Reinsurance Group of America were worth $3,919,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Zurich Insurance Group Ltd FI lifted its position in shares of Reinsurance Group of America by 681.8% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider's stock worth $104,244,000 after buying an additional 442,883 shares during the last quarter. Millennium Management LLC increased its holdings in Reinsurance Group of America by 43.8% in the 2nd quarter. Millennium Management LLC now owns 437,266 shares of the insurance provider's stock worth $89,758,000 after purchasing an additional 133,212 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new stake in shares of Reinsurance Group of America during the first quarter valued at about $24,918,000. Earnest Partners LLC increased its stake in shares of Reinsurance Group of America by 4.2% in the first quarter. Earnest Partners LLC now owns 2,577,901 shares of the insurance provider's stock valued at $497,226,000 after buying an additional 104,256 shares during the period. Finally, M&G Plc bought a new position in Reinsurance Group of America in the 1st quarter valued at approximately $15,658,000. Institutional investors and hedge funds own 95.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Keefe, Bruyette & Woods upgraded Reinsurance Group of America from a "moderate buy" rating to a "strong-buy" rating in a report on Thursday, October 3rd. Raymond James upped their price objective on shares of Reinsurance Group of America from $228.00 to $250.00 and gave the company a "strong-buy" rating in a research note on Tuesday, September 24th. Citigroup lifted their target price on shares of 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. Royal Bank of Canada lifted their price objective on Reinsurance Group of America from $235.00 to $245.00 and gave the stock an "outperform" rating in a research report on Monday. Finally, Piper Sandler raised their target price on Reinsurance Group of America from $237.00 to $242.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $227.38.

Reinsurance Group of America Stock Performance

Shares of NYSE RGA traded up $2.78 during midday trading on Friday, reaching $223.34. The company's stock had a trading volume of 225,274 shares, compared to its average volume of 356,252. The stock has a market capitalization of $14.71 billion, a P/E ratio of 20.66 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.17 and a quick ratio of 0.17. The firm has a 50 day moving average price of $215.96 and a 200-day moving average price of $209.94. Reinsurance Group of America, Incorporated has a 12-month low of $154.89 and a 12-month high of $227.87.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $5.29 billion. During the same quarter in the previous year, the firm posted $5.57 EPS. Reinsurance Group of America's revenue was up 9.7% on a year-over-year basis. As a group, equities analysts predict that Reinsurance Group of America, Incorporated will post 21.93 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.56 dividend on an annualized basis and a yield of 1.59%. Reinsurance Group of America's dividend payout ratio is presently 32.69%.

Insider Transactions at Reinsurance Group of America

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the stock in a transaction that occurred 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 directly owns 12,357 shares in the company, valued at $2,705,812.29. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.37% of the company's stock.

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.