Ballentine Partners LLC Buys New Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Ballentine Partners LLC bought a new stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,069 shares of the insurance provider’s stock, valued at approximately $233,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RGA. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Reinsurance Group of America by 13.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,394 shares of the insurance provider’s stock valued at $655,000 after acquiring an additional 392 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings 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 valued at $44,897,000 after acquiring an additional 84,647 shares in the last quarter. State of Michigan Retirement System raised its holdings in shares of Reinsurance Group of America by 1.9% during the first quarter. State of Michigan Retirement System now owns 16,152 shares of the insurance provider’s stock valued at $3,115,000 after acquiring an additional 300 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Reinsurance Group of America by 8.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 20,620 shares of the insurance provider’s stock valued at $3,977,000 after acquiring an additional 1,650 shares in the last quarter. Finally, Norden Group LLC bought a new position in shares of Reinsurance Group of America during the first quarter valued at approximately $793,000. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Trading Down 0.6 %

Shares of NYSE:RGA opened at $211.54 on Wednesday. The stock has a market capitalization of $13.93 billion, a price-to-earnings ratio of 16.46 and a beta of 0.91. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.17 and a current ratio of 0.17. The stock’s 50-day simple moving average is $215.51 and its two-hundred day simple moving average is $208.73. Reinsurance Group of America, Incorporated has a 52-week low of $145.96 and a 52-week high of $227.87.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 15.84% and a net margin of 4.01%. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period last year, the firm posted $4.40 earnings per share. Analysts expect 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 disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were paid a $0.89 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.56 annualized dividend and a dividend yield of 1.68%. 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 27.70%.

Insider Transactions at Reinsurance Group of America

In other news, EVP William L. Hutton sold 1,209 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $218.97, for a total value of $264,734.73. Following the transaction, the executive vice president now owns 12,357 shares of the company’s stock, valued at $2,705,812.29. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods upgraded Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, October 3rd. Barclays decreased their price objective on Reinsurance Group of America from $255.00 to $250.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. Piper Sandler increased their price objective 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. Raymond James increased their price objective on Reinsurance Group of America from $228.00 to $250.00 and gave the stock a “strong-buy” rating in a report on Tuesday, September 24th. Finally, Wells Fargo & Company increased their target price on Reinsurance Group of America from $239.00 to $244.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Three 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. According to MarketBeat, Reinsurance Group of America currently has an average rating of “Moderate Buy” and an average target price 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.