Claro Advisors LLC Purchases Shares of 976 Reinsurance Group of America, Incorporated (NYSE:RGA)

Claro Advisors LLC bought a new stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) during the 3rd quarter, according to its most recent filing with the SEC. The fund bought 976 shares of the insurance provider’s stock, valued at approximately $213,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Reinsurance Group of America by 22.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 143,178 shares of the insurance provider’s stock worth $27,617,000 after buying an additional 26,306 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Reinsurance Group of America by 50.9% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 7,486 shares of the insurance provider’s stock valued at $1,459,000 after purchasing an additional 2,524 shares in the last quarter. M&G Plc increased its position 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 worth $17,456,000 after purchasing an additional 4,025 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Reinsurance Group of America during the 2nd quarter valued at about $1,925,000. Finally, Insight Wealth Strategies LLC acquired a new position in Reinsurance Group of America in the third quarter valued at about $3,548,000. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Stock Down 1.9 %

Shares of NYSE RGA opened at $227.22 on Wednesday. Reinsurance Group of America, Incorporated has a 1 year low of $157.45 and a 1 year high of $233.14. The firm’s 50-day moving average is $217.71 and its 200-day moving average is $212.25. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $14.96 billion, a PE ratio of 20.87 and a beta of 0.92.

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, topping analysts’ consensus estimates of $5.31 by $0.82. The firm had revenue of $5.65 billion during the quarter, compared to analyst estimates 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 quarter in the previous year, the business earned $5.57 EPS. Equities analysts expect that Reinsurance Group of America, Incorporated will post 21.93 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Friday, November 8th. Reinsurance Group of America’s payout ratio is 32.69%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on RGA. JPMorgan Chase & Co. lifted their target price on shares of Reinsurance Group of America from $220.00 to $222.00 and gave the company a “neutral” rating in a research note on Thursday, October 3rd. Keefe, Bruyette & Woods upgraded Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, October 3rd. Citigroup increased their target price on Reinsurance Group of America from $194.00 to $252.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Piper Sandler lifted their price target on Reinsurance Group of America from $237.00 to $242.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Finally, TD Cowen began coverage on shares of Reinsurance Group of America in a research report on Wednesday, October 9th. They set a “hold” rating and a $235.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $227.38.

Insiders Place Their Bets

In related news, EVP William L. Hutton sold 1,209 shares of the stock in a transaction that occurred 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 directly owns 12,357 shares in the company, valued at $2,705,812.29. This trade represents a 8.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.37% of the company’s stock.

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.