Reinsurance Group of America, Incorporated (NYSE:RGA) Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lifted its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 8.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 25,969 shares of the insurance provider’s stock after purchasing an additional 1,936 shares during the period. Thrivent Financial for Lutherans’ holdings in Reinsurance Group of America were worth $5,657,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in RGA. Claro Advisors LLC purchased a new position in Reinsurance Group of America in the third quarter valued at approximately $213,000. Mount Lucas Management LP raised its stake in shares of Reinsurance Group of America by 2.9% in the 3rd quarter. Mount Lucas Management LP now owns 2,592 shares of the insurance provider’s stock valued at $565,000 after acquiring an additional 72 shares during the period. Natixis Advisors LLC lifted its holdings in shares of Reinsurance Group of America by 31.1% during the 3rd quarter. Natixis Advisors LLC now owns 193,698 shares of the insurance provider’s stock valued at $42,201,000 after acquiring an additional 45,924 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of Reinsurance Group of America during the 3rd quarter valued at $4,912,000. Finally, CIBC Asset Management Inc boosted its position in Reinsurance Group of America by 5.5% during the 3rd quarter. CIBC Asset Management Inc now owns 2,348 shares of the insurance provider’s stock worth $512,000 after purchasing an additional 123 shares during the period. 95.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on RGA. StockNews.com upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Raymond James upped their price target on Reinsurance Group of America from $228.00 to $250.00 and gave the stock a “strong-buy” rating in a report on Tuesday, September 24th. Royal Bank of Canada lifted their price objective on shares of Reinsurance Group of America from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Wells Fargo & Company upped 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. Finally, Keefe, Bruyette & Woods raised shares of Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, October 3rd. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $227.77.

Insiders Place Their Bets

In other Reinsurance Group of America 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 completion of the transaction, the executive vice president now directly owns 12,357 shares in the company, valued at $2,705,812.29. The trade was a 8.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.37% of the stock is owned by corporate insiders.

Reinsurance Group of America Stock Performance

Shares of RGA stock opened at $230.70 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 stock has a market capitalization of $15.19 billion, a price-to-earnings ratio of 21.18 and a beta of 0.92. Reinsurance Group of America, Incorporated has a one year low of $157.48 and a one year high of $233.14. The company’s 50-day simple moving average is $219.09 and its 200-day simple moving average is $212.92.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Thursday, October 31st. The insurance provider reported $6.13 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 company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.29 billion. During the same quarter last year, the business posted $5.57 EPS. Reinsurance Group of America’s quarterly revenue was up 9.7% compared to the same quarter last year. Equities analysts anticipate 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.89 per share. The ex-dividend date is Friday, November 8th. This represents a $3.56 annualized dividend and a yield of 1.54%. Reinsurance Group of America’s payout ratio is 32.69%.

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.