Bank of Montreal Can Boosts Stock Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Bank of Montreal Can grew its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 146.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 77,409 shares of the insurance provider’s stock after purchasing an additional 45,972 shares during the period. Bank of Montreal Can’s holdings in Reinsurance Group of America were worth $16,690,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Eagle Asset Management Inc. increased its stake in Reinsurance Group of America by 15.7% in the 3rd quarter. Eagle Asset Management Inc. now owns 112,901 shares of the insurance provider’s stock valued at $25,297,000 after buying an additional 15,289 shares during the last quarter. M&G Plc lifted its holdings in Reinsurance Group of America by 5.0% during the second quarter. M&G Plc now owns 85,153 shares of the insurance provider’s stock worth $17,456,000 after acquiring an additional 4,025 shares during the period. Sanctuary Advisors LLC purchased a new position in Reinsurance Group of America in the second quarter worth $1,925,000. Insight Wealth Strategies LLC purchased a new position in Reinsurance Group of America in the third quarter worth $3,548,000. Finally, Oppenheimer Asset Management Inc. grew its stake in Reinsurance Group of America by 23.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 31,798 shares of the insurance provider’s stock valued at $6,527,000 after purchasing an additional 6,144 shares during the period. 95.11% of the stock is owned by institutional investors.

Reinsurance Group of America Stock Down 0.5 %

RGA stock opened at $228.40 on Friday. Reinsurance Group of America, Incorporated has a twelve month low of $157.48 and a twelve month high of $233.81. The firm has a market capitalization of $15.04 billion, a PE ratio of 20.97 and a beta of 0.92. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.45. The stock has a 50-day simple moving average of $220.25 and a two-hundred day simple moving average of $213.73.

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

Reinsurance Group of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were given a $0.89 dividend. The ex-dividend date was Friday, November 8th. This represents a $3.56 dividend on an annualized basis and a yield of 1.56%. Reinsurance Group of America’s payout ratio is 32.69%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RGA. Raymond James boosted their price target on shares of 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. Barclays increased their target price on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. StockNews.com raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Morgan Stanley decreased their target price on 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, TD Cowen started coverage on Reinsurance Group of America in a research report on Wednesday, October 9th. They set a “hold” rating and a $235.00 price target on the stock. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Reinsurance Group of America has a consensus rating of “Moderate Buy” and a consensus price target of $227.77.

Insider Activity

In related news, EVP William L. Hutton sold 1,209 shares of Reinsurance Group of America 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 transaction, the executive vice president now directly owns 12,357 shares of the company’s stock, valued at $2,705,812.29. The trade was a 8.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.37% of the stock is 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.