Benjamin F. Edwards & Company Inc. Purchases 85 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Benjamin F. Edwards & Company Inc. increased its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 14.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 670 shares of the insurance provider’s stock after purchasing an additional 85 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Reinsurance Group of America were worth $137,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Pineridge Advisors LLC purchased a new position in shares of Reinsurance Group of America during the fourth quarter valued at approximately $26,000. New Covenant Trust Company N.A. purchased a new position in Reinsurance Group of America during the 1st quarter valued at $28,000. International Assets Investment Management LLC bought a new position in Reinsurance Group of America in the 2nd quarter valued at $28,000. Rise Advisors LLC purchased a new stake in Reinsurance Group of America in the first quarter worth $29,000. Finally, Family Firm Inc. bought a new stake in shares of Reinsurance Group of America during the second quarter worth $29,000. 95.11% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Reinsurance Group of America

In other news, EVP William L. Hutton sold 1,209 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total transaction of $264,734.73. Following the transaction, the executive vice president now directly owns 12,357 shares of the company’s stock, valued at $2,705,812.29. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.37% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Royal Bank of Canada upped their price target on shares of Reinsurance Group of America from $225.00 to $235.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Evercore ISI upped their target price on shares of Reinsurance Group of America from $225.00 to $241.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 26th. Morgan Stanley decreased their price target on shares of Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. 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 note on Friday, June 28th. Finally, StockNews.com lowered Reinsurance Group of America from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Reinsurance Group of America currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.17.

Reinsurance Group of America Trading Down 0.1 %

Shares of NYSE:RGA opened at $218.43 on Friday. The company has a market capitalization of $14.37 billion, a PE ratio of 16.97 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 business’s fifty day simple moving average is $213.26 and its 200-day simple moving average is $204.16.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.94 by $0.54. The company had revenue of $4.88 billion for the quarter, compared to analyst estimates of $5.07 billion. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.40 earnings per share. As a group, equities research analysts predict that Reinsurance Group of America, Incorporated will post 21.7 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were given a dividend of $0.89 per share. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.85. The ex-dividend date was Friday, August 9th. This represents a $3.56 dividend on an annualized basis and a yield of 1.63%. Reinsurance Group of America’s dividend payout ratio is presently 27.66%.

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.