Blue Trust Inc. Buys 1,605 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Blue Trust Inc. boosted its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 48.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,929 shares of the insurance provider’s stock after buying an additional 1,605 shares during the period. Blue Trust Inc.’s holdings in Reinsurance Group of America were worth $1,012,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in RGA. GAMMA Investing LLC grew its position in Reinsurance Group of America by 8.9% in the 3rd quarter. GAMMA Investing LLC now owns 609 shares of the insurance provider’s stock valued at $133,000 after purchasing an additional 50 shares during the period. GHP Investment Advisors Inc. raised its stake in shares of Reinsurance Group of America by 0.7% in the second quarter. GHP Investment Advisors Inc. now owns 9,462 shares of the insurance provider’s stock worth $1,942,000 after purchasing an additional 62 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Reinsurance Group of America by 20.3% in the first quarter. Covestor Ltd now owns 374 shares of the insurance provider’s stock valued at $72,000 after purchasing an additional 63 shares in the last quarter. Fiduciary Family Office LLC boosted its position in shares of Reinsurance Group of America by 3.1% during the second quarter. Fiduciary Family Office LLC now owns 2,550 shares of the insurance provider’s stock valued at $523,000 after buying an additional 76 shares during the last quarter. Finally, Trust Point Inc. grew its holdings in Reinsurance Group of America by 6.9% during the third quarter. Trust Point Inc. now owns 1,242 shares of the insurance provider’s stock worth $271,000 after buying an additional 80 shares in the last quarter. 95.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP William L. Hutton sold 1,209 shares of the business’s stock in a transaction dated 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 owns 12,357 shares in the company, valued at $2,705,812.29. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.37% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Barclays cut their price target on shares of Reinsurance Group of America from $255.00 to $250.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. TD Cowen began coverage on Reinsurance Group of America in a research report on Wednesday, October 9th. They set a “hold” rating and a $235.00 price target for the company. Jefferies Financial Group boosted their price target on shares of Reinsurance Group of America from $63.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Evercore ISI raised their price objective 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. Finally, Wells Fargo & Company boosted their target price on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Reinsurance Group of America presently has an average rating of “Moderate Buy” and an average price target of $226.62.

Reinsurance Group of America Trading Down 1.0 %

Shares of RGA opened at $216.82 on Monday. The business’s 50-day moving average price is $214.55 and its 200-day moving average price is $207.61. The stock has a market cap of $14.27 billion, a PE ratio of 16.85 and a beta of 0.91. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.52. Reinsurance Group of America, Incorporated has a twelve month low of $144.74 and a twelve month high of $227.87.

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, topping analysts’ consensus estimates of $4.94 by $0.54. The firm had revenue of $4.88 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.40 EPS. On average, equities analysts forecast that Reinsurance Group of America, Incorporated will post 21.8 EPS 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 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.