Reinsurance Group of America, Incorporated (NYSE:RGA) Stake Raised by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd boosted its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 31.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,358 shares of the insurance provider’s stock after acquiring an additional 325 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Reinsurance Group of America were worth $296,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in Reinsurance Group of America by 22.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 143,178 shares of the insurance provider’s stock valued at $27,617,000 after purchasing an additional 26,306 shares in the last quarter. Eagle Asset Management Inc. boosted its stake in shares of Reinsurance Group of America by 15.7% during the 3rd quarter. Eagle Asset Management Inc. now owns 112,901 shares of the insurance provider’s stock valued at $25,297,000 after buying an additional 15,289 shares during the period. M&G Plc grew its holdings in shares of Reinsurance Group of America by 5.0% during the 2nd quarter. M&G Plc now owns 85,153 shares of the insurance provider’s stock valued at $17,456,000 after acquiring an additional 4,025 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Reinsurance Group of America in the second quarter worth $1,925,000. Finally, Insight Wealth Strategies LLC purchased a new stake in shares of Reinsurance Group of America during the third quarter worth $3,548,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Stock Up 0.1 %

Shares of RGA stock opened at $231.58 on Wednesday. The stock has a 50 day moving average of $219.64 and a 200-day moving average of $213.30. The firm has a market cap of $15.25 billion, a PE ratio of 21.27 and a beta of 0.92. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.45. Reinsurance Group of America, Incorporated has a 12 month low of $157.48 and a 12 month high of $233.81.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Thursday, October 31st. The insurance provider reported $6.13 EPS for the quarter, beating the consensus estimate 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 net margin of 3.32% and a return on equity of 15.01%. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the company earned $5.57 EPS. On average, equities analysts predict that Reinsurance Group of America, Incorporated will post 21.93 EPS for the current year.

Reinsurance Group of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were issued a $0.89 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.56 annualized dividend and a yield of 1.54%. Reinsurance Group of America’s dividend payout ratio (DPR) is 32.69%.

Insiders Place Their Bets

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the business’s 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 sale, the executive vice president now owns 12,357 shares of the company’s stock, valued at $2,705,812.29. The trade was a 8.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.37% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RGA. Piper Sandler upped their target price on Reinsurance Group of America from $237.00 to $242.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Morgan Stanley cut their price objective on shares of Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. StockNews.com upgraded shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. increased their price target on shares of Reinsurance Group of America from $220.00 to $222.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. Finally, Barclays upped 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 report on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Reinsurance Group of America presently has a consensus rating of “Moderate Buy” and an average price target of $227.77.

About Reinsurance Group of America

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.