Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA – Free Report) by 10.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,400 shares of the insurance provider’s stock after buying an additional 2,500 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Reinsurance Group of America were worth $5,592,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Sanctuary Advisors LLC grew its stake in shares of Reinsurance Group of America by 3.8% in the first quarter. Sanctuary Advisors LLC now owns 8,572 shares of the insurance provider’s stock worth $1,750,000 after acquiring an additional 316 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new stake in shares of Reinsurance Group of America in the first quarter valued at $4,247,000. State of Michigan Retirement System raised its stake in shares of Reinsurance Group of America by 1.9% in the first quarter. State of Michigan Retirement System now owns 15,852 shares of the insurance provider’s stock valued at $3,236,000 after acquiring an additional 300 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Reinsurance Group of America by 3.4% in the first quarter. Principal Financial Group Inc. now owns 149,514 shares of the insurance provider’s stock valued at $30,525,000 after purchasing an additional 4,913 shares during the period. Finally, Chicago Partners Investment Group LLC boosted its holdings in Reinsurance Group of America by 19.7% in the first quarter. Chicago Partners Investment Group LLC now owns 3,170 shares of the insurance provider’s stock valued at $657,000 after purchasing an additional 521 shares during the period. Hedge funds and other institutional investors own 95.11% of the company’s stock.
Reinsurance Group of America Stock Performance
Shares of RGA stock opened at $233.94 on Wednesday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46. The firm has a fifty day moving average price of $212.43 and a 200 day moving average price of $208.99. The company has a market cap of $15.33 billion, a P/E ratio of 12.67 and a beta of 0.47. Reinsurance Group of America, Incorporated has a 12 month low of $165.52 and a 12 month high of $238.91.
Reinsurance Group of America Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 19th were given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, May 19th. Reinsurance Group of America’s dividend payout ratio is currently 20.15%.
Insider Transactions at Reinsurance Group of America
In related news, EVP John W. Hayden sold 414 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total transaction of $88,989.30. Following the completion of the sale, the executive vice president owned 20,949 shares in the company, valued at $4,502,987.55. The trade was a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ronald Herrmann sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $210.58, for a total value of $1,474,060.00. Following the completion of the transaction, the executive vice president directly owned 3,938 shares of the company’s stock, valued at $829,264.04. This trade represents a 64.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.60% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on RGA shares. Weiss Ratings restated a “buy (b)” rating on shares of Reinsurance Group of America in a report on Wednesday, May 13th. Wells Fargo & Company lifted their price objective on Reinsurance Group of America from $261.00 to $269.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. UBS Group lifted their price objective on Reinsurance Group of America from $220.00 to $236.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Wall Street Zen raised Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, JPMorgan Chase & Co. upped their target price on shares of Reinsurance Group of America from $264.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Reinsurance Group of America currently has a consensus rating of “Moderate Buy” and an average target price of $255.50.
Check Out Our Latest Report on RGA
Reinsurance Group of America Profile
Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.
RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.
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