B. Riley Wealth Advisors Inc. Takes Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

B. Riley Wealth Advisors Inc. purchased a new position in Reinsurance Group of America, Incorporated (NYSE:RGA) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,010 shares of the insurance provider’s stock, valued at approximately $219,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Retirement Systems of Alabama grew its stake in shares of Reinsurance Group of America by 9.2% in the third quarter. Retirement Systems of Alabama now owns 161,301 shares of the insurance provider’s stock worth $35,143,000 after acquiring an additional 13,596 shares during the last quarter. Franklin Resources Inc. grew its position in Reinsurance Group of America by 7.9% during the 3rd quarter. Franklin Resources Inc. now owns 77,516 shares of the insurance provider’s stock valued at $16,862,000 after purchasing an additional 5,699 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Reinsurance Group of America during the 3rd quarter valued at about $293,000. Sanctuary Advisors LLC increased its stake in Reinsurance Group of America by 2.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 10,443 shares of the insurance provider’s stock valued at $2,409,000 after purchasing an additional 246 shares in the last quarter. Finally, Invst LLC purchased a new position in Reinsurance Group of America in the third quarter worth about $229,000. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Stock Performance

Shares of NYSE RGA opened at $207.54 on Friday. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.45. Reinsurance Group of America, Incorporated has a 12-month low of $159.82 and a 12-month high of $233.81. The firm has a market capitalization of $13.67 billion, a price-to-earnings ratio of 19.06 and a beta of 0.93. The firm has a 50 day moving average of $219.46 and a 200 day moving average of $214.23.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Thursday, October 31st. The insurance provider reported $6.13 EPS for the quarter, topping the consensus estimate 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 return on equity of 15.01% and a net margin of 3.32%. Reinsurance Group of America’s revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the business posted $5.57 EPS. On average, research analysts anticipate that Reinsurance Group of America, Incorporated will post 21.67 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were given a dividend of $0.89 per share. The ex-dividend date was Friday, November 8th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.72%. Reinsurance Group of America’s payout ratio is currently 32.69%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on RGA shares. StockNews.com raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Barclays increased their target price on Reinsurance Group of America from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. boosted their price target on 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. Raymond James increased their price objective on Reinsurance Group of America from $228.00 to $250.00 and gave the company a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, Piper Sandler boosted 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. Three investment 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $227.77.

Insider Activity at Reinsurance Group of America

In related news, EVP William L. Hutton sold 1,209 shares of Reinsurance Group of America 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 transaction, the executive vice president now owns 12,357 shares in the company, valued at approximately $2,705,812.29. The trade was a 8.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.37% of the stock is currently owned by corporate insiders.

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.