Tranquility Partners LLC Invests $200,000 in Reinsurance Group of America, Incorporated (NYSE:RGA)

Tranquility Partners LLC acquired a new stake in Reinsurance Group of America, Incorporated (NYSE:RGA) in the third quarter, Holdings Channel reports. The firm acquired 918 shares of the insurance provider’s stock, valued at approximately $200,000.

Other large investors have also bought and sold shares of the company. WCM Investment Management LLC increased its stake in shares of Reinsurance Group of America by 1,208.5% in the third quarter. WCM Investment Management LLC now owns 2,447,668 shares of the insurance provider’s stock valued at $527,742,000 after buying an additional 2,260,605 shares during the period. Zurich Insurance Group Ltd FI boosted its holdings in Reinsurance Group of America by 681.8% in the second quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider’s stock valued at $104,244,000 after acquiring an additional 442,883 shares during the last quarter. Millennium Management LLC increased its position in Reinsurance Group of America by 43.8% during the 2nd quarter. Millennium Management LLC now owns 437,266 shares of the insurance provider’s stock valued at $89,758,000 after purchasing an additional 133,212 shares during the period. Earnest Partners LLC raised its holdings in Reinsurance Group of America by 4.2% during the 1st quarter. Earnest Partners LLC now owns 2,577,901 shares of the insurance provider’s stock worth $497,226,000 after purchasing an additional 104,256 shares during the last quarter. Finally, Natixis Advisors LLC lifted its position in shares of Reinsurance Group of America by 31.1% in the 3rd quarter. Natixis Advisors LLC now owns 193,698 shares of the insurance provider’s stock worth $42,201,000 after purchasing an additional 45,924 shares during the period. 95.11% of the stock is owned by institutional investors.

Insider Activity at Reinsurance Group of America

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 transaction 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 legal filing with the SEC, which is available through this link. 1.37% of the stock is currently owned by corporate insiders.

Reinsurance Group of America Stock Performance

NYSE:RGA opened at $227.22 on Wednesday. The company has a market capitalization of $14.97 billion, a P/E ratio of 20.87 and a beta of 0.92. The business has a fifty day simple moving average of $217.71 and a two-hundred day simple moving average of $212.25. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.17 and a quick ratio of 0.17. Reinsurance Group of America, Incorporated has a 1 year low of $157.45 and a 1 year high of $233.14.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings data on Thursday, October 31st. The insurance provider reported $6.13 earnings per share for the quarter, topping the consensus estimate of $5.31 by $0.82. The company had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.29 billion. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the firm posted $5.57 EPS. On average, analysts expect that Reinsurance Group of America, Incorporated will post 21.93 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be given a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Friday, November 8th. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 32.69%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on RGA shares. Royal Bank of Canada upped their target price on Reinsurance Group of America from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Piper Sandler boosted their price target on shares of Reinsurance Group of America from $237.00 to $242.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Reinsurance Group of America from $220.00 to $222.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Keefe, Bruyette & Woods upgraded shares of Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, October 3rd. Finally, StockNews.com upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $227.38.

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.