Private Trust Co. NA Grows Stake in Reinsurance Group of America, Incorporated (NYSE:RGA)

Private Trust Co. NA boosted its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 333.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 156 shares of the insurance provider’s stock after buying an additional 120 shares during the quarter. Private Trust Co. NA’s holdings in Reinsurance Group of America were worth $34,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of RGA. Earnest Partners LLC raised its holdings in shares of Reinsurance Group of America by 1.9% during the second quarter. Earnest Partners LLC now owns 2,628,129 shares of the insurance provider’s stock valued at $539,476,000 after acquiring an additional 50,228 shares during the last quarter. WCM Investment Management LLC raised its stake in Reinsurance Group of America by 1,208.5% in the 3rd quarter. WCM Investment Management LLC now owns 2,447,668 shares of the insurance provider’s stock valued at $527,742,000 after purchasing an additional 2,260,605 shares during the last quarter. Sei Investments Co. lifted its holdings in Reinsurance Group of America by 5.9% in the 2nd quarter. Sei Investments Co. now owns 825,719 shares of the insurance provider’s stock valued at $169,497,000 after purchasing an additional 45,709 shares in the last quarter. Zurich Insurance Group Ltd FI boosted its stake in Reinsurance Group of America by 681.8% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider’s stock worth $104,244,000 after purchasing an additional 442,883 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Reinsurance Group of America by 43.8% during the second quarter. Millennium Management LLC now owns 437,266 shares of the insurance provider’s stock worth $89,758,000 after buying an additional 133,212 shares in the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Reinsurance Group of America Trading Down 0.5 %

Shares of RGA stock opened at $228.40 on Friday. The company has a 50-day moving average of $220.25 and a two-hundred day moving average of $213.73. The firm has a market cap of $15.04 billion, a PE ratio of 20.97 and a beta of 0.92. Reinsurance Group of America, Incorporated has a 1-year low of $157.48 and a 1-year high of $233.81. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.17 and a quick ratio of 0.17.

Reinsurance Group of America (NYSE:RGA) last posted 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 net margin of 3.32% and a return on equity of 15.01%. The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.29 billion. During the same quarter last year, the firm earned $5.57 EPS. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, analysts predict that Reinsurance Group of America, Incorporated will post 21.93 EPS for the current year.

Reinsurance Group of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Friday, November 8th. Reinsurance Group of America’s payout ratio is 32.69%.

Insider Activity at Reinsurance Group of America

In other news, EVP William L. Hutton sold 1,209 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were 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 owns 12,357 shares of the company’s stock, valued at approximately $2,705,812.29. This trade represents a 8.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.37% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RGA. Piper Sandler raised 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. StockNews.com upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. increased their price target on Reinsurance Group of America from $220.00 to $222.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Keefe, Bruyette & Woods raised Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, October 3rd. Finally, Morgan Stanley cut 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 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. Based on data from MarketBeat.com, Reinsurance Group of America has an average rating of “Moderate Buy” and a consensus price target of $227.77.

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.