Maven Securities LTD Purchases Shares of 1,000 Reinsurance Group of America, Incorporated (NYSE:RGA)

Maven Securities LTD acquired a new stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,000 shares of the insurance provider’s stock, valued at approximately $205,000.

Several other hedge funds also recently made changes to their positions in the business. KBC Group NV raised its position in shares of Reinsurance Group of America by 72.7% during the fourth quarter. KBC Group NV now owns 1,228 shares of the insurance provider’s stock worth $199,000 after purchasing an additional 517 shares during the period. Pinebridge Investments L.P. lifted its stake in Reinsurance Group of America by 10.3% during the fourth quarter. Pinebridge Investments L.P. now owns 7,122 shares of the insurance provider’s stock valued at $1,152,000 after buying an additional 667 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Reinsurance Group of America by 1.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 350,915 shares of the insurance provider’s stock worth $56,771,000 after buying an additional 3,801 shares during the period. Quadrature Capital Ltd increased its position in shares of Reinsurance Group of America by 1,124.1% in the fourth quarter. Quadrature Capital Ltd now owns 28,043 shares of the insurance provider’s stock worth $4,536,000 after acquiring an additional 25,752 shares in the last quarter. Finally, Natixis Investment Managers International raised its holdings in shares of Reinsurance Group of America by 1.7% during the fourth quarter. Natixis Investment Managers International now owns 6,515 shares of the insurance provider’s stock valued at $1,054,000 after acquiring an additional 110 shares during the period. Institutional investors and hedge funds own 95.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Citigroup lifted their price objective on shares of Reinsurance Group of America from $194.00 to $252.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Morgan Stanley dropped their price target on Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Wells Fargo & Company raised their price objective on Reinsurance Group of America from $236.00 to $239.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Piper Sandler upped their target price on Reinsurance Group of America from $237.00 to $242.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Royal Bank of Canada raised their price target on shares of Reinsurance Group of America from $225.00 to $235.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Reinsurance Group of America presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.92.

Reinsurance Group of America Stock Down 1.4 %

RGA stock opened at $214.65 on Friday. The firm has a market cap of $14.12 billion, a PE ratio of 16.68 and a beta of 0.91. Reinsurance Group of America, Incorporated has a 1 year low of $140.39 and a 1 year high of $227.87. The company has a fifty day simple moving average of $213.24 and a 200 day simple moving average of $205.37. 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 quarterly earnings results 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 company had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $5.07 billion. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.40 earnings per share. Sell-side analysts anticipate that Reinsurance Group of America, Incorporated will post 21.7 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend was Friday, August 9th. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.85. Reinsurance Group of America’s dividend payout ratio (DPR) is 27.66%.

Insider Activity

In related news, EVP William L. Hutton sold 1,209 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $2,705,812.29. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.37% of the company’s stock.

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.