Daymark Wealth Partners LLC Buys Shares of 992 Reinsurance Group of America, Incorporated (NYSE:RGA)

Daymark Wealth Partners LLC purchased a new stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 992 shares of the insurance provider’s stock, valued at approximately $204,000.

A number of other hedge funds have also recently added to or reduced their stakes in RGA. Hsbc Holdings PLC raised its holdings in shares of Reinsurance Group of America by 96.3% during the 4th quarter. Hsbc Holdings PLC now owns 57,069 shares of the insurance provider’s stock valued at $9,218,000 after purchasing an additional 27,995 shares in the last quarter. Parallel Advisors LLC raised its holdings in Reinsurance Group of America by 78.5% during the fourth quarter. Parallel Advisors LLC now owns 1,114 shares of the insurance provider’s stock valued at $180,000 after buying an additional 490 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in shares of Reinsurance Group of America by 5.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 44,573 shares of the insurance provider’s stock worth $7,211,000 after buying an additional 2,113 shares during the last quarter. TFO Wealth Partners LLC boosted its stake in shares of Reinsurance Group of America by 36,985.7% during the 4th quarter. TFO Wealth Partners LLC now owns 2,596 shares of the insurance provider’s stock worth $420,000 after acquiring an additional 2,589 shares in the last quarter. Finally, Scotia Capital Inc. acquired a new position in shares of Reinsurance Group of America during the 4th quarter valued at about $1,555,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

Reinsurance Group of America Stock Down 1.4 %

Shares of RGA stock opened at $215.61 on Friday. The stock has a market cap of $14.20 billion, a P/E ratio of 16.75 and a beta of 0.91. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.17 and a quick ratio of 0.17. The stock has a fifty day moving average price of $213.38 and a 200 day moving average price of $204.48. Reinsurance Group of America, Incorporated has a one year low of $140.39 and a one year high of $227.87.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share 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 firm’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.40 earnings per share. Analysts predict that Reinsurance Group of America, Incorporated will post 21.7 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 1.65%. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.85. The ex-dividend date was Friday, August 9th. Reinsurance Group of America’s dividend payout ratio is 27.66%.

Insiders Place Their Bets

In related news, EVP William L. Hutton sold 1,209 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $218.97, for a total transaction of $264,734.73. Following the completion of the sale, the executive vice president now owns 12,357 shares in the company, valued at approximately $2,705,812.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.37% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on RGA. Jefferies Financial Group boosted their target price on Reinsurance Group of America from $63.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. StockNews.com raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Friday. Evercore ISI lifted 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 report on Wednesday, June 26th. Wells Fargo & Company upped their price target on shares of Reinsurance Group of America from $236.00 to $239.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Finally, Barclays initiated coverage on Reinsurance Group of America in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $255.00 price objective on the stock. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Reinsurance Group of America presently has an average rating of “Moderate Buy” and a consensus price target of $225.17.

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.