3,384 Shares in Reinsurance Group of America, Incorporated (NYSE:RGA) Acquired by Consolidated Planning Corp

Consolidated Planning Corp purchased a new position in Reinsurance Group of America, Incorporated (NYSE:RGA) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,384 shares of the insurance provider’s stock, valued at approximately $737,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RGA. 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 purchasing an additional 442,883 shares during the last quarter. Millennium Management LLC lifted its holdings in Reinsurance Group of America by 43.8% during the 2nd quarter. Millennium Management LLC now owns 437,266 shares of the insurance provider’s stock worth $89,758,000 after buying an additional 133,212 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of Reinsurance Group of America during the 1st quarter worth about $24,918,000. Earnest Partners LLC increased its holdings in shares of Reinsurance Group of America by 4.2% in the 1st quarter. Earnest Partners LLC now owns 2,577,901 shares of the insurance provider’s stock valued at $497,226,000 after acquiring an additional 104,256 shares during the last quarter. Finally, M&G Plc acquired a new stake in shares of Reinsurance Group of America during the 1st quarter worth about $15,658,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

Reinsurance Group of America Price Performance

Reinsurance Group of America stock opened at $220.40 on Friday. The company has a market cap of $14.52 billion, a P/E ratio of 20.24 and a beta of 0.92. Reinsurance Group of America, Incorporated has a one year low of $154.79 and a one year high of $227.87. The business has a fifty day moving average of $215.96 and a two-hundred day moving average of $209.94. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.17 and a current ratio of 0.17.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings data on Thursday, October 31st. The insurance provider reported $6.13 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.29 billion. During the same quarter last year, the business earned $5.57 earnings per share. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, analysts predict that Reinsurance Group of America, Incorporated will post 21.74 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend is Friday, November 8th. Reinsurance Group of America’s payout ratio is currently 32.69%.

Insider Buying and Selling

In other 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 transaction, the executive vice president now 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 SEC, which is available through the SEC website. 1.37% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Keefe, Bruyette & Woods upgraded shares of Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, October 3rd. Citigroup increased their target price on shares of 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. Wells Fargo & Company boosted their price target on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Piper Sandler increased their price objective on Reinsurance Group of America from $237.00 to $242.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Finally, TD Cowen assumed coverage on Reinsurance Group of America in a report on Wednesday, October 9th. They set a “hold” rating and a $235.00 price target on the stock. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $227.38.

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.