Private Trust Co. NA Buys 120 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Private Trust Co. NA boosted its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 333.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156 shares of the insurance provider’s stock after purchasing an additional 120 shares during the quarter. Private Trust Co. NA’s holdings in Reinsurance Group of America were worth $34,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RGA. Armstrong Advisory Group Inc. bought a new stake in shares of Reinsurance Group of America in the 3rd quarter valued at about $25,000. International Assets Investment Management LLC acquired a new stake in Reinsurance Group of America in the second quarter valued at approximately $28,000. Family Firm Inc. purchased a new position in Reinsurance Group of America in the second quarter worth $29,000. LRI Investments LLC acquired a new position in shares of Reinsurance Group of America during the first quarter worth $33,000. Finally, Wolff Wiese Magana LLC purchased a new stake in shares of Reinsurance Group of America during the 3rd quarter valued at $34,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Stock Performance

NYSE RGA opened at $228.40 on Friday. The firm has a market capitalization of $15.04 billion, a P/E ratio of 20.97 and a beta of 0.92. The stock has a 50-day simple moving average of $220.25 and a two-hundred day simple moving average of $213.73. 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, Incorporated has a fifty-two week low of $157.48 and a fifty-two week high of $233.81.

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

Reinsurance Group of America Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Keefe, Bruyette & Woods upgraded Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, October 3rd. Piper Sandler upped 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 report on Wednesday, October 2nd. StockNews.com upgraded shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. TD Cowen started coverage on shares of Reinsurance Group of America in a research note on Wednesday, October 9th. They set a “hold” rating and a $235.00 price target on the stock. Finally, Royal Bank of Canada lifted 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 research note on Monday, November 4th. Three investment 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 company. Based on data from MarketBeat, Reinsurance Group of America currently has an average rating of “Moderate Buy” and a consensus target price of $227.77.

Insider Activity at Reinsurance Group of America

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the 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 transaction, the executive vice president now owns 12,357 shares in the company, valued at approximately $2,705,812.29. This represents a 8.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.37% of the stock is owned by company insiders.

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.