First Citizens Bank & Trust Co. Buys 75 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

First Citizens Bank & Trust Co. boosted its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 5.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,401 shares of the insurance provider’s stock after purchasing an additional 75 shares during the period. First Citizens Bank & Trust Co.’s holdings in Reinsurance Group of America were worth $305,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Earnest Partners LLC lifted its stake in Reinsurance Group of America by 1.9% in the 2nd quarter. Earnest Partners LLC now owns 2,628,129 shares of the insurance provider’s stock valued at $539,476,000 after purchasing an additional 50,228 shares during the last quarter. Sei Investments Co. lifted its stake 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 during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Reinsurance Group of America by 2.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 584,137 shares of the insurance provider’s stock valued at $112,668,000 after purchasing an additional 15,926 shares during the last quarter. Zurich Insurance Group Ltd FI lifted its stake in Reinsurance Group of America by 681.8% in the 2nd quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider’s stock valued at $104,244,000 after purchasing an additional 442,883 shares during the last quarter. Finally, Millennium Management LLC raised its stake 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 valued at $89,758,000 after acquiring an additional 133,212 shares during the last quarter. Institutional investors own 95.11% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on RGA shares. TD Cowen started coverage on shares of Reinsurance Group of America in a research note on Wednesday, October 9th. They set a “hold” rating and a $235.00 price target for the company. Evercore ISI raised their price target on shares of Reinsurance Group of America from $225.00 to $241.00 and gave the company an “outperform” rating in a research note on Wednesday, June 26th. Morgan Stanley dropped their price target on shares of 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. Citigroup raised their price target on shares of 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. Finally, StockNews.com raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $226.62.

Insiders Place Their Bets

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 value of $264,734.73. Following the completion of the sale, the executive vice president now directly owns 12,357 shares in the company, valued at approximately $2,705,812.29. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.37% of the company’s stock.

Reinsurance Group of America Price Performance

Shares of NYSE RGA opened at $216.82 on Monday. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $14.27 billion, a PE ratio of 16.85 and a beta of 0.91. The firm has a fifty day simple moving average of $214.55 and a 200 day simple moving average of $207.61. Reinsurance Group of America, Incorporated has a twelve month low of $144.74 and a twelve month high of $227.87.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, topping analysts’ consensus estimates of $4.94 by $0.54. The business had revenue of $4.88 billion during 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 business’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period last year, the company posted $4.40 earnings per share. On average, sell-side analysts forecast that Reinsurance Group of America, Incorporated will post 21.8 EPS for the current 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 $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 1.64%. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Friday, August 9th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 27.66%.

Reinsurance Group of America Company 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.