Summit Investment Advisors Inc. Raises Stake in Reinsurance Group of America, Incorporated $RGA

Summit Investment Advisors Inc. increased its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 2.5% during the 1st quarter, Holdings Channel reports. The institutional investor owned 23,566 shares of the insurance provider’s stock after purchasing an additional 574 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Reinsurance Group of America were worth $4,640,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RGA. Cornerstone Planning Group LLC lifted its stake in 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 purchasing an additional 121 shares during the last quarter. TCTC Holdings LLC boosted its position in shares of Reinsurance Group of America by 107.2% during the 1st quarter. TCTC Holdings LLC now owns 172 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 89 shares in the last quarter. Headlands Technologies LLC increased its position in shares of Reinsurance Group of America by 357.1% in the first quarter. Headlands Technologies LLC now owns 224 shares of the insurance provider’s stock valued at $44,000 after buying an additional 175 shares in the last quarter. SouthState Corp purchased a new stake in shares of Reinsurance Group of America in the first quarter valued at $48,000. Finally, Oakworth Capital Inc. boosted its holdings in Reinsurance Group of America by 32.4% in the second quarter. Oakworth Capital Inc. now owns 245 shares of the insurance provider’s stock valued at $49,000 after acquiring an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Stock Down 0.4%

Reinsurance Group of America stock opened at $190.39 on Friday. Reinsurance Group of America, Incorporated has a 52 week low of $159.25 and a 52 week high of $233.81. The stock has a market cap of $12.51 billion, a price-to-earnings ratio of 16.53 and a beta of 0.62. The company’s 50-day moving average price is $190.86 and its two-hundred day moving average price is $194.06. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.47.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, October 30th. The insurance provider reported $6.37 earnings per share for the quarter, topping analysts’ consensus estimates of $5.80 by $0.57. Reinsurance Group of America had a net margin of 3.54% and a return on equity of 12.56%. The company had revenue of $6.20 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same period in the prior year, the business posted $6.13 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, analysts expect that Reinsurance Group of America, Incorporated will post 22.9 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 25th. Shareholders of record on Tuesday, November 11th will be paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Monday, November 10th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 28.62%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RGA. Piper Sandler reaffirmed an “overweight” rating on shares of Reinsurance Group of America in a research note on Tuesday, October 7th. Morgan Stanley lowered their price objective on shares of Reinsurance Group of America from $210.00 to $195.00 and set an “equal weight” rating for the company in a research report on Monday, August 18th. Keefe, Bruyette & Woods cut their target price on shares of Reinsurance Group of America from $255.00 to $240.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Raymond James Financial cut Reinsurance Group of America from a “market perform” rating to an “underperform” rating in a research report on Friday, October 17th. Finally, Barclays reissued an “overweight” rating and issued a $246.00 price target on shares of Reinsurance Group of America in a report on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $239.89.

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.