Retirement Systems of Alabama Grows Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Retirement Systems of Alabama grew its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 9.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 161,301 shares of the insurance provider’s stock after purchasing an additional 13,596 shares during the quarter. Retirement Systems of Alabama owned approximately 0.24% of Reinsurance Group of America worth $35,143,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in RGA. Wealth Enhancement Advisory Services LLC boosted its position in Reinsurance Group of America by 9.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,701 shares of the insurance provider’s stock valued at $760,000 after buying an additional 307 shares during the period. Blue Trust Inc. boosted its holdings in shares of Reinsurance Group of America by 62.2% in the second quarter. Blue Trust Inc. now owns 3,324 shares of the insurance provider’s stock valued at $641,000 after purchasing an additional 1,275 shares during the period. Everpar Advisors LLC bought a new position in Reinsurance Group of America in the second quarter worth approximately $225,000. Oakworth Capital Inc. bought a new stake in Reinsurance Group of America during the 2nd quarter valued at $38,000. Finally, First Citizens Bank & Trust Co. purchased a new stake in shares of Reinsurance Group of America in the 2nd quarter worth $272,000. 95.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RGA. Royal Bank of Canada lifted their price objective on Reinsurance Group of America from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Piper Sandler upped their price target on shares of 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. JPMorgan Chase & Co. lifted their price objective on shares of Reinsurance Group of America from $220.00 to $222.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Wells Fargo & Company upped their target price on Reinsurance Group of America from $239.00 to $244.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Barclays lifted their price target on Reinsurance Group of America from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Three investment 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $227.77.

Insider Activity

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were 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 approximately $2,705,812.29. This represents a 8.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.37% of the company’s stock.

Reinsurance Group of America Stock Performance

RGA opened at $212.30 on Friday. The company has a market cap of $13.98 billion, a P/E ratio of 19.49 and a beta of 0.93. 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’s 50-day moving average price is $220.22 and its 200-day moving average price is $214.23. Reinsurance Group of America, Incorporated has a 52-week low of $157.48 and a 52-week high of $233.81.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.31 by $0.82. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%. The business had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.29 billion. During the same quarter last year, the company posted $5.57 earnings per share. The business’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, equities analysts anticipate that Reinsurance Group of America, Incorporated will post 21.67 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.89 per share. 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 32.69%.

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.