Daiwa Securities Group Inc. Purchases 100 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Daiwa Securities Group Inc. boosted its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 7.1% during the second quarter, HoldingsChannel reports. The fund owned 1,500 shares of the insurance provider’s stock after buying an additional 100 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Reinsurance Group of America were worth $308,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in RGA. International Assets Investment Management LLC bought a new stake in shares of Reinsurance Group of America in the second quarter valued at approximately $28,000. Family Firm Inc. bought a new stake in Reinsurance Group of America during the 2nd quarter valued at $29,000. New Covenant Trust Company N.A. purchased a new stake in shares of Reinsurance Group of America during the first quarter worth $28,000. Rise Advisors LLC bought a new position in shares of Reinsurance Group of America in the first quarter worth $29,000. Finally, LRI Investments LLC purchased a new position in shares of Reinsurance Group of America in the first quarter valued at $33,000. 95.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RGA. Morgan Stanley dropped their price objective on Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Evercore ISI raised their price objective on shares of Reinsurance Group of America from $225.00 to $241.00 and gave the company an “outperform” rating in a research report on Wednesday, June 26th. Wells Fargo & Company upped their target price on shares of Reinsurance Group of America from $236.00 to $239.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Citigroup raised their price target on shares of Reinsurance Group of America from $194.00 to $252.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Piper Sandler increased their price objective on Reinsurance Group of America from $228.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, June 28th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $223.33.

Reinsurance Group of America Price Performance

RGA opened at $216.75 on Wednesday. The stock has a market capitalization of $14.28 billion, a P/E ratio of 16.84 and a beta of 0.91. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.52. Reinsurance Group of America, Incorporated has a 12-month low of $140.39 and a 12-month high of $227.87. The stock has a 50-day moving average price of $212.53 and a 200-day moving average price of $202.70.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, beating analysts’ consensus estimates of $4.94 by $0.54. The business had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $5.07 billion. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The business’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period last year, the business earned $4.40 earnings per share. Equities analysts predict that Reinsurance Group of America, Incorporated will post 21.5 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.64%. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Friday, August 9th. Reinsurance Group of America’s dividend payout ratio is presently 27.66%.

About Reinsurance Group of America

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.