Caprock Group LLC Invests $238,000 in Reinsurance Group of America, Incorporated (NYSE:RGA)

Caprock Group LLC bought a new stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,092 shares of the insurance provider’s stock, valued at approximately $238,000.

Several other hedge funds have also bought and sold shares of the stock. Pathstone Holdings LLC lifted its position in shares of Reinsurance Group of America by 2.5% during the 3rd quarter. Pathstone Holdings LLC now owns 25,052 shares of the insurance provider’s stock valued at $5,458,000 after buying an additional 600 shares in the last quarter. Baron Wealth Management LLC lifted its holdings in Reinsurance Group of America by 4.5% during the third quarter. Baron Wealth Management LLC now owns 1,485 shares of the insurance provider’s stock valued at $324,000 after purchasing an additional 64 shares in the last quarter. Strengthening Families & Communities LLC bought a new position in shares of Reinsurance Group of America in the third quarter worth approximately $36,000. Thrivent Financial for Lutherans increased its stake in shares of Reinsurance Group of America by 8.1% in the third quarter. Thrivent Financial for Lutherans now owns 25,969 shares of the insurance provider’s stock worth $5,657,000 after purchasing an additional 1,936 shares in the last quarter. Finally, Claro Advisors LLC bought a new stake in shares of Reinsurance Group of America during the 3rd quarter valued at $213,000. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Price Performance

Shares of Reinsurance Group of America stock opened at $230.70 on Monday. The stock has a 50 day moving average price of $219.09 and a 200-day moving average price of $212.96. Reinsurance Group of America, Incorporated has a one year low of $157.48 and a one year high of $233.14. The stock has a market cap of $15.19 billion, a price-to-earnings ratio of 21.18 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.17 and a current ratio of 0.17.

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

Reinsurance Group of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.54%. The ex-dividend date is Friday, November 8th. Reinsurance Group of America’s payout ratio is currently 32.69%.

Insider Buying and Selling at Reinsurance Group of America

In related news, EVP William L. Hutton sold 1,209 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total transaction 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 trade represents a 8.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.37% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wells Fargo & Company increased their price target 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. JPMorgan Chase & Co. lifted their target price on Reinsurance Group of America from $220.00 to $222.00 and gave the company a “neutral” rating in a research note on Thursday, October 3rd. Raymond James increased their price objective on shares of Reinsurance Group of America from $228.00 to $250.00 and gave the company a “strong-buy” rating in a report on Tuesday, September 24th. Morgan Stanley dropped their target price 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 report on Monday, August 19th. Finally, Piper Sandler lifted their price target on shares of Reinsurance Group of America from $237.00 to $242.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $227.77.

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.