Tectonic Advisors LLC Acquires 69 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Tectonic Advisors LLC lifted its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 3.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,358 shares of the insurance provider’s stock after purchasing an additional 69 shares during the period. Tectonic Advisors LLC’s holdings in Reinsurance Group of America were worth $514,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Armstrong Advisory Group Inc. acquired a new position in Reinsurance Group of America during the 3rd quarter worth about $25,000. New Covenant Trust Company N.A. acquired a new position in shares of Reinsurance Group of America in the first quarter worth approximately $28,000. International Assets Investment Management LLC bought a new stake in Reinsurance Group of America in the second quarter valued at approximately $28,000. Family Firm Inc. acquired a new position in shares of Reinsurance Group of America in the 2nd quarter worth approximately $29,000. Finally, LRI Investments LLC acquired a new stake in shares of Reinsurance Group of America during the first quarter worth $33,000. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on RGA. Citigroup upped 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 report on Tuesday, July 23rd. TD Cowen initiated coverage on Reinsurance Group of America in a research report on Wednesday, October 9th. They set a “hold” rating and a $235.00 target price on the stock. StockNews.com upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Barclays cut their price target on Reinsurance Group of America from $255.00 to $250.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. Finally, Piper Sandler lifted their price objective on shares of Reinsurance Group of America from $237.00 to $242.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $226.62.

Reinsurance Group of America Trading Down 1.0 %

RGA opened at $210.44 on Friday. Reinsurance Group of America, Incorporated has a fifty-two week low of $144.74 and a fifty-two week high of $227.87. The firm has a market capitalization of $13.86 billion, a PE ratio of 16.38 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 50-day moving average is $215.33 and its 200 day moving average is $208.08.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, topping the consensus estimate of $4.94 by $0.54. The firm 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 company’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period in the prior year, the business posted $4.40 earnings per share. As a group, research analysts predict that Reinsurance Group of America, Incorporated will post 21.8 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were paid a $0.89 dividend. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.85. The ex-dividend date was Friday, August 9th. This represents a $3.56 annualized dividend and a dividend yield of 1.69%. Reinsurance Group of America’s dividend payout ratio is presently 27.70%.

Insider Activity

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,705,812.29. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.37% of the stock is currently owned by corporate insiders.

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.