Atomi Financial Group Inc. Makes New Investment in Reinsurance Group of America, Incorporated (NYSE:RGA)

Atomi Financial Group Inc. acquired a new position in Reinsurance Group of America, Incorporated (NYSE:RGA) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,078 shares of the insurance provider’s stock, valued at approximately $235,000.

Several other large investors have also recently made changes to their positions in the stock. Zurich Insurance Group Ltd FI lifted its stake in Reinsurance Group of America by 681.8% during the second 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 in the last quarter. Millennium Management LLC boosted its holdings in Reinsurance Group of America by 43.8% during the 2nd quarter. Millennium Management LLC now owns 437,266 shares of the insurance provider’s stock valued at $89,758,000 after acquiring an additional 133,212 shares during the period. Jupiter Asset Management Ltd. acquired a new position in Reinsurance Group of America in the 1st quarter valued at about $24,918,000. Earnest Partners LLC increased its stake in Reinsurance Group of America by 4.2% during the first quarter. Earnest Partners LLC now owns 2,577,901 shares of the insurance provider’s stock worth $497,226,000 after purchasing an additional 104,256 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Reinsurance Group of America by 57.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 232,773 shares of the insurance provider’s stock worth $44,897,000 after purchasing an additional 84,647 shares in the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Reinsurance Group of America Price Performance

Shares of NYSE:RGA opened at $216.49 on Monday. Reinsurance Group of America, Incorporated has a 12 month low of $143.96 and a 12 month high of $227.87. The firm has a market capitalization of $14.24 billion, a P/E ratio of 16.82 and a beta of 0.91. 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’s fifty day moving average price is $212.62 and its 200 day moving average price is $206.75.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share for the quarter, beating the consensus estimate of $4.94 by $0.54. The business had revenue of $4.88 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business earned $4.40 EPS. As a group, sell-side analysts predict that Reinsurance Group of America, Incorporated will post 21.72 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were given a dividend of $0.89 per share. The ex-dividend date of this dividend was Friday, August 9th. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.64%. Reinsurance Group of America’s dividend payout ratio (DPR) is 27.66%.

Insider Activity

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the firm’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 transaction, the executive vice president now directly owns 12,357 shares of the company’s stock, valued at approximately $2,705,812.29. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.37% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada upped their target price on shares of Reinsurance Group of America from $225.00 to $235.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Citigroup increased their price objective on Reinsurance Group of America from $194.00 to $252.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. TD Cowen started coverage on Reinsurance Group of America in a report on Wednesday, October 9th. They issued a “hold” rating and a $235.00 target price for the company. Piper Sandler upped their price target on Reinsurance Group of America from $237.00 to $242.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods upgraded Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, October 3rd. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Reinsurance Group of America has a consensus rating of “Moderate Buy” and an average price target of $226.62.

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.