Farther Finance Advisors LLC Increases Stock Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Farther Finance Advisors LLC increased its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 94.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,427 shares of the insurance provider’s stock after buying an additional 695 shares during the quarter. Farther Finance Advisors LLC’s holdings in Reinsurance Group of America were worth $311,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. purchased a new position in shares of Reinsurance Group of America in the 3rd quarter worth about $25,000. New Covenant Trust Company N.A. acquired a new position in Reinsurance Group of America during the first quarter valued at approximately $28,000. International Assets Investment Management LLC purchased a new stake in Reinsurance Group of America during the second quarter worth approximately $28,000. Family Firm Inc. acquired a new stake in shares of Reinsurance Group of America in the second quarter worth $29,000. Finally, LRI Investments LLC purchased a new position in shares of Reinsurance Group of America in the 1st quarter valued at $33,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

Insider Buying and Selling

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the company’s 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 directly owns 12,357 shares in the company, valued at $2,705,812.29. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Royal Bank of Canada upped their price target on shares of Reinsurance Group of America from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. 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 research note on Tuesday, October 8th. JPMorgan Chase & Co. increased their price objective on shares of Reinsurance Group of America from $220.00 to $222.00 and gave the company a “neutral” rating in a research report on Thursday, October 3rd. Piper Sandler lifted their price target on shares of Reinsurance Group of America from $237.00 to $242.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Morgan Stanley decreased their target price on 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. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Reinsurance Group of America currently has an average rating of “Moderate Buy” and an average target price of $227.38.

Reinsurance Group of America Stock Performance

RGA opened at $224.06 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.17 and a current ratio of 0.17. The company has a market cap of $14.76 billion, a PE ratio of 20.57 and a beta of 0.92. The stock has a 50-day moving average of $216.09 and a 200-day moving average of $210.26. Reinsurance Group of America, Incorporated has a 52-week low of $154.89 and a 52-week high of $227.87.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.31 by $0.82. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The firm had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.29 billion. During the same quarter in the prior year, the business earned $5.57 earnings per share. The company’s revenue was up 9.7% on a year-over-year basis. As a group, equities research analysts forecast that Reinsurance Group of America, Incorporated will post 21.93 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The company also recently announced 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 Friday, November 8th. This represents a $3.56 dividend on an annualized basis and a yield of 1.59%. Reinsurance Group of America’s payout ratio is presently 32.69%.

Reinsurance Group of America 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.