CIBC Asset Management Inc Grows Stock Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

CIBC Asset Management Inc increased its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 5.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,348 shares of the insurance provider’s stock after acquiring an additional 123 shares during the quarter. CIBC Asset Management Inc’s holdings in Reinsurance Group of America were worth $512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Reinsurance Group of America by 22.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 143,178 shares of the insurance provider’s stock worth $27,617,000 after purchasing an additional 26,306 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Reinsurance Group of America by 50.9% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 7,486 shares of the insurance provider’s stock worth $1,459,000 after acquiring an additional 2,524 shares during the last quarter. M&G Plc increased its position in shares of Reinsurance Group of America by 5.0% in the second quarter. M&G Plc now owns 85,153 shares of the insurance provider’s stock valued at $17,456,000 after acquiring an additional 4,025 shares during the period. Sanctuary Advisors LLC bought a new position in shares of Reinsurance Group of America during the second quarter valued at about $1,925,000. Finally, Insight Wealth Strategies LLC purchased a new stake in shares of Reinsurance Group of America during the third quarter worth about $3,548,000. 95.11% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP William L. Hutton sold 1,209 shares of Reinsurance Group of America 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 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 8.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.37% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. StockNews.com raised Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. 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, October 2nd. Wells Fargo & Company lifted their price target on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Royal Bank of Canada upped their price objective on shares of Reinsurance Group of America from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Finally, Barclays cut their target price on shares of Reinsurance Group of America from $255.00 to $250.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Reinsurance Group of America has an average rating of “Moderate Buy” and an average target price of $227.38.

Reinsurance Group of America Price Performance

RGA stock opened at $226.98 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.17 and a current ratio of 0.17. The firm has a market capitalization of $14.95 billion, a price-to-earnings ratio of 20.87 and a beta of 0.92. The firm has a 50 day moving average price of $218.07 and a 200-day moving average price of $212.43. Reinsurance Group of America, Incorporated has a 52-week low of $157.48 and a 52-week high of $233.14.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Thursday, October 31st. The insurance provider reported $6.13 EPS for the quarter, topping the consensus estimate of $5.31 by $0.82. The business had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.29 billion. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company posted $5.57 earnings per share. Equities research analysts forecast that Reinsurance Group of America, Incorporated will post 21.93 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be paid a $0.89 dividend. The ex-dividend date is Friday, November 8th. This represents a $3.56 annualized dividend and a dividend yield of 1.57%. Reinsurance Group of America’s dividend payout ratio is presently 32.69%.

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.