Cyndeo Wealth Partners LLC Takes Position in Reinsurance Group of America, Incorporated $RGA

Cyndeo Wealth Partners LLC purchased a new position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,054 shares of the insurance provider’s stock, valued at approximately $209,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Alpine Bank Wealth Management acquired a new position in shares of Reinsurance Group of America during the first quarter worth about $28,000. Golden State Wealth Management LLC increased its stake in shares of Reinsurance Group of America by 164.3% during the first quarter. Golden State Wealth Management LLC now owns 148 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 92 shares during the period. Cornerstone Planning Group LLC increased its stake in shares of Reinsurance Group of America by 224.1% during the first quarter. Cornerstone Planning Group LLC now owns 175 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 121 shares during the period. TCTC Holdings LLC increased its stake in shares of Reinsurance Group of America by 107.2% during the first quarter. TCTC Holdings LLC now owns 172 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 89 shares during the period. Finally, Headlands Technologies LLC increased its stake in shares of Reinsurance Group of America by 357.1% during the first quarter. Headlands Technologies LLC now owns 224 shares of the insurance provider’s stock worth $44,000 after acquiring an additional 175 shares during the period. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Reinsurance Group of America from $237.00 to $264.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. Piper Sandler restated an “overweight” rating on shares of Reinsurance Group of America in a research report on Tuesday. Morgan Stanley lowered their target price on shares of Reinsurance Group of America from $210.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Monday, August 18th. Wells Fargo & Company lowered their target price on shares of Reinsurance Group of America from $249.00 to $241.00 and set an “overweight” rating on the stock in a research report on Monday, August 4th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Reinsurance Group of America in a research report on Wednesday. Seven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $241.56.

Reinsurance Group of America Stock Down 1.5%

RGA stock opened at $191.79 on Friday. The company’s 50 day simple moving average is $190.72 and its 200-day simple moving average is $193.28. The firm has a market capitalization of $12.68 billion, a PE ratio of 16.65 and a beta of 0.60. Reinsurance Group of America, Incorporated has a 12 month low of $159.25 and a 12 month high of $233.81. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.16 and a quick ratio of 0.16.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results on Thursday, July 31st. The insurance provider reported $4.72 EPS for the quarter, missing the consensus estimate of $5.58 by ($0.86). The business had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.70 billion. Reinsurance Group of America had a net margin of 3.54% and a return on equity of 12.56%. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.48 earnings per share. Equities analysts expect that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were given a $0.93 dividend. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.89. This represents a $3.72 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Tuesday, August 12th. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 32.29%.

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.