First Horizon Advisors Inc. Boosts Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

First Horizon Advisors Inc. raised its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 105.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 312 shares of the insurance provider’s stock after acquiring an additional 160 shares during the period. First Horizon Advisors Inc.’s holdings in Reinsurance Group of America were worth $68,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Earnest Partners LLC boosted its position in shares of Reinsurance Group of America by 1.9% in the 2nd quarter. Earnest Partners LLC now owns 2,628,129 shares of the insurance provider’s stock valued at $539,476,000 after purchasing an additional 50,228 shares during the period. WCM Investment Management LLC increased its holdings in shares of Reinsurance Group of America by 1,208.5% in the 3rd quarter. WCM Investment Management LLC now owns 2,447,668 shares of the insurance provider’s stock valued at $527,742,000 after acquiring an additional 2,260,605 shares during the period. Sei Investments Co. boosted its stake in 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 during the period. Zurich Insurance Group Ltd FI grew its position in 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 during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Reinsurance Group of America by 43.8% during the second quarter. Millennium Management LLC now owns 437,266 shares of the insurance provider’s stock worth $89,758,000 after buying an additional 133,212 shares during the period. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on RGA shares. Morgan Stanley cut their price target on shares of Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Royal Bank of Canada upped their price objective on Reinsurance Group of America from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Raymond James raised their target price on 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. TD Cowen initiated 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, Barclays raised their price objective on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Friday. 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $227.77.

Reinsurance Group of America Price Performance

Shares of NYSE RGA opened at $230.70 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.17 and a quick ratio of 0.17. Reinsurance Group of America, Incorporated has a 1-year low of $157.48 and a 1-year high of $233.14. The company has a market capitalization of $15.19 billion, a price-to-earnings ratio of 21.18 and a beta of 0.92. The business has a 50-day moving average of $219.09 and a 200-day moving average of $212.96.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share for the quarter, topping analysts’ consensus estimates of $5.31 by $0.82. The firm had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.29 billion. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. Reinsurance Group of America’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.57 EPS. On average, equities analysts anticipate 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 declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be paid a dividend of $0.89 per share. 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 dividend payout ratio (DPR) is 32.69%.

Insiders Place Their Bets

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 completion of the sale, the executive vice president now owns 12,357 shares in the company, valued at approximately $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 accessible through this link. 1.37% of the stock is currently owned by company insiders.

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.