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

Thrivent Financial for Lutherans increased its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 45.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 24,033 shares of the insurance provider’s stock after buying an additional 7,517 shares during the period. Thrivent Financial for Lutherans’ holdings in Reinsurance Group of America were worth $4,933,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in RGA. Pineridge Advisors LLC purchased a new stake in shares of Reinsurance Group of America during the fourth quarter worth about $26,000. New Covenant Trust Company N.A. purchased a new stake in Reinsurance Group of America during the 1st quarter worth approximately $28,000. International Assets Investment Management LLC acquired a new position in shares of Reinsurance Group of America in the 2nd quarter valued at approximately $28,000. Rise Advisors LLC purchased a new position in shares of Reinsurance Group of America during the 1st quarter valued at approximately $29,000. Finally, Family Firm Inc. acquired a new stake in shares of Reinsurance Group of America during the second quarter worth approximately $29,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on RGA shares. Jefferies Financial Group upped their price target on shares of Reinsurance Group of America from $63.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Raymond James increased their price target on shares of Reinsurance Group of America from $228.00 to $250.00 and gave the stock a “strong-buy” rating in a research report on Tuesday. Citigroup boosted their price objective 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 began coverage on Reinsurance Group of America in a report on Wednesday, September 4th. They set an “overweight” rating and a $255.00 target price on the stock. Finally, Piper Sandler boosted their price target on Reinsurance Group of America from $228.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, June 28th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Reinsurance Group of America has a consensus rating of “Moderate Buy” and a consensus target price of $225.17.

Reinsurance Group of America Price Performance

Shares of RGA opened at $215.61 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.17 and a quick ratio of 0.17. The company has a market cap of $14.20 billion, a P/E ratio of 16.75 and a beta of 0.91. Reinsurance Group of America, Incorporated has a 12 month low of $140.39 and a 12 month high of $227.87. The stock has a fifty day moving average price of $213.34 and a 200 day moving average price of $204.26.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 earnings per share for the quarter, topping analysts’ consensus estimates of $4.94 by $0.54. The business had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $5.07 billion. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter last year, the company earned $4.40 EPS. On average, research analysts forecast that Reinsurance Group of America, Incorporated will post 21.7 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders 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 dividend yield of 1.65%. The ex-dividend date of this dividend was Friday, August 9th. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.85. Reinsurance Group of America’s payout ratio is 27.66%.

Insider Transactions at Reinsurance Group of America

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 value of $264,734.73. Following the sale, the executive vice president now directly owns 12,357 shares in the company, valued at approximately $2,705,812.29. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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.