Impact Partnership Wealth LLC Invests $335,000 in Reinsurance Group of America, Incorporated (NYSE:RGA)

Impact Partnership Wealth LLC acquired a new position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,536 shares of the insurance provider’s stock, valued at approximately $335,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Earnest Partners LLC raised its stake in shares of Reinsurance Group of America by 1.9% during the 2nd quarter. Earnest Partners LLC now owns 2,628,129 shares of the insurance provider’s stock worth $539,476,000 after purchasing an additional 50,228 shares in the last quarter. Sei Investments Co. raised its stake in shares of Reinsurance Group of America by 5.9% during the 2nd quarter. Sei Investments Co. now owns 825,719 shares of the insurance provider’s stock worth $169,497,000 after purchasing an additional 45,709 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of Reinsurance Group of America by 2.8% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 584,137 shares of the insurance provider’s stock worth $112,668,000 after purchasing an additional 15,926 shares in the last quarter. Zurich Insurance Group Ltd FI raised its stake in shares of Reinsurance Group of America by 681.8% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider’s stock worth $104,244,000 after purchasing an additional 442,883 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of Reinsurance Group of America by 43.8% during the 2nd quarter. Millennium Management LLC now owns 437,266 shares of the insurance provider’s stock worth $89,758,000 after purchasing an additional 133,212 shares in the last quarter. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Stock Down 0.1 %

RGA stock opened at $212.48 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.17 and a quick ratio of 0.17. The stock has a market capitalization of $13.99 billion, a price-to-earnings ratio of 16.54 and a beta of 0.91. The business’s fifty day moving average price is $215.19 and its two-hundred day moving average price is $207.94. Reinsurance Group of America, Incorporated has a fifty-two week low of $144.74 and a fifty-two week high of $227.87.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 earnings per share for the quarter, topping the consensus estimate of $4.94 by $0.54. The firm 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 company’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the business earned $4.40 EPS. On average, equities analysts anticipate that Reinsurance Group of America, Incorporated will post 21.8 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were issued a dividend of $0.89 per share. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend was Friday, August 9th. Reinsurance Group of America’s dividend payout ratio is 27.70%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RGA. Raymond James upped their price objective on Reinsurance Group of America from $228.00 to $250.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, September 24th. StockNews.com upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Piper Sandler increased their price target on Reinsurance Group of America from $237.00 to $242.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company increased their price target on Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada increased their price target on Reinsurance Group of America from $225.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $226.62.

Insider Transactions at Reinsurance Group of America

In related 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 sale, the executive vice president now directly 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 SEC, which is available through this link. 1.37% of the stock is currently owned by 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.