Resonant Capital Advisors LLC Acquires 53 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Resonant Capital Advisors LLC lifted its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,368 shares of the insurance provider’s stock after purchasing an additional 53 shares during the period. Resonant Capital Advisors LLC’s holdings in Reinsurance Group of America were worth $952,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of RGA. GAMMA Investing LLC raised its holdings in Reinsurance Group of America by 8.9% during the third quarter. GAMMA Investing LLC now owns 609 shares of the insurance provider’s stock valued at $133,000 after buying an additional 50 shares in the last quarter. GHP Investment Advisors Inc. raised its stake in shares of Reinsurance Group of America by 0.7% in the 2nd quarter. GHP Investment Advisors Inc. now owns 9,462 shares of the insurance provider’s stock valued at $1,942,000 after acquiring an additional 62 shares in the last quarter. Covestor Ltd raised its stake in shares of Reinsurance Group of America by 20.3% in the 1st quarter. Covestor Ltd now owns 374 shares of the insurance provider’s stock valued at $72,000 after acquiring an additional 63 shares in the last quarter. First Citizens Bank & Trust Co. lifted its holdings in Reinsurance Group of America by 5.7% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 1,401 shares of the insurance provider’s stock worth $305,000 after purchasing an additional 75 shares during the last quarter. Finally, Fiduciary Family Office LLC boosted its position in 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 worth $523,000 after purchasing an additional 76 shares during the period. 95.11% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP William L. Hutton sold 1,209 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 12,357 shares in the company, valued at $2,705,812.29. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RGA. Jefferies Financial Group upped their price objective 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. Keefe, Bruyette & Woods upgraded shares of Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, October 3rd. TD Cowen initiated coverage on Reinsurance Group of America in a research report on Wednesday, October 9th. They issued a “hold” rating and a $235.00 price target on the stock. Piper Sandler boosted their price objective on 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. Finally, Morgan Stanley lowered their target price 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. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $226.62.

Reinsurance Group of America Stock Performance

RGA opened at $216.82 on Monday. The stock’s 50 day simple moving average is $214.55 and its 200-day simple moving average is $207.61. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.52. The stock has a market cap of $14.27 billion, a PE ratio of 16.85 and a beta of 0.91. Reinsurance Group of America, Incorporated has a 1 year low of $144.74 and a 1 year high of $227.87.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.94 by $0.54. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The company had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $5.07 billion. During the same quarter in the prior year, the company posted $4.40 EPS. The business’s revenue was up 17.4% on a year-over-year basis. Sell-side analysts forecast that Reinsurance Group of America, Incorporated will post 21.8 EPS for the current year.

Reinsurance Group of America Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 1.64%. This is an increase 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 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.