First Trust Direct Indexing L.P. Boosts Stock Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

First Trust Direct Indexing L.P. grew its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 7.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,806 shares of the insurance provider’s stock after buying an additional 124 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Reinsurance Group of America were worth $393,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue increased its stake in shares of Reinsurance Group of America by 4.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 12,068 shares of the insurance provider’s stock worth $2,629,000 after acquiring an additional 515 shares during the last quarter. GHP Investment Advisors Inc. increased its stake in shares of Reinsurance Group of America by 1.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 9,557 shares of the insurance provider’s stock worth $2,082,000 after acquiring an additional 95 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Reinsurance Group of America by 34.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,972 shares of the insurance provider’s stock worth $1,083,000 after acquiring an additional 1,271 shares during the last quarter. Ballentine Partners LLC acquired a new stake in shares of Reinsurance Group of America in the 3rd quarter worth $233,000. Finally, Tectonic Advisors LLC increased its stake in shares of Reinsurance Group of America by 3.0% in the 3rd quarter. Tectonic Advisors LLC now owns 2,358 shares of the insurance provider’s stock worth $514,000 after acquiring an additional 69 shares during the last quarter. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Reinsurance Group of America Trading Up 1.9 %

Shares of RGA stock opened at $215.10 on Monday. The business’s 50 day moving average is $215.72 and its two-hundred day moving average is $209.43. Reinsurance Group of America, Incorporated has a twelve month low of $146.16 and a twelve month high of $227.87. The company has a market capitalization of $14.17 billion, a P/E ratio of 19.75 and a beta of 0.92. 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 (NYSE:RGA) last announced its earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share for the quarter, beating the consensus estimate of $5.31 by $0.82. Reinsurance Group of America had a return on equity of 15.68% and a net margin of 3.32%. The company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.29 billion. During the same period last year, the business posted $5.57 EPS. The company’s revenue was up 9.7% on a year-over-year basis. Equities analysts forecast that Reinsurance Group of America, Incorporated will post 21.8 EPS for the current year.

Reinsurance Group of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be paid a $0.89 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.66%. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 32.69%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on RGA shares. JPMorgan Chase & Co. increased their price target on Reinsurance Group of America from $220.00 to $222.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Citigroup raised their target price on Reinsurance Group of America from $194.00 to $252.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Barclays lowered their target price on Reinsurance Group of America from $255.00 to $250.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. Raymond James raised their target price on Reinsurance Group of America from $228.00 to $250.00 and gave the company a “strong-buy” rating in a report on Tuesday, September 24th. Finally, Jefferies Financial Group raised their target price on Reinsurance Group of America from $63.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $226.62.

Insider Activity at Reinsurance Group of America

In related news, EVP William L. Hutton sold 1,209 shares of Reinsurance Group of America stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total value of $264,734.73. Following the sale, the executive vice president now directly owns 12,357 shares in the company, valued at $2,705,812.29. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.37% of the company’s stock.

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.