159 Shares in Reinsurance Group of America, Incorporated (NYSE:RGA) Purchased by LRI Investments LLC

LRI Investments LLC purchased a new stake in Reinsurance Group of America, Incorporated (NYSE:RGA) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 159 shares of the insurance provider’s stock, valued at approximately $33,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd raised its stake in shares of Reinsurance Group of America by 20.3% during the first quarter. Covestor Ltd now owns 374 shares of the insurance provider’s stock worth $72,000 after purchasing an additional 63 shares during the last quarter. Toth Financial Advisory Corp lifted its stake in shares of Reinsurance Group of America by 41.2% in the 4th quarter. Toth Financial Advisory Corp now owns 240 shares of the insurance provider’s stock worth $39,000 after acquiring an additional 70 shares during the period. Lindbrook Capital LLC boosted its holdings in shares of Reinsurance Group of America by 129.9% in the fourth quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 87 shares in the last quarter. Private Advisor Group LLC increased its stake in shares of Reinsurance Group of America by 2.2% during the fourth quarter. Private Advisor Group LLC now owns 4,246 shares of the insurance provider’s stock worth $687,000 after acquiring an additional 92 shares during the period. Finally, Oliver Luxxe Assets LLC raised its holdings in Reinsurance Group of America by 2.2% during the first quarter. Oliver Luxxe Assets LLC now owns 4,791 shares of the insurance provider’s stock worth $924,000 after purchasing an additional 104 shares in the last quarter. 95.11% of the stock is owned by hedge funds and other institutional investors.

Reinsurance Group of America Stock Performance

NYSE RGA opened at $206.31 on Friday. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $13.57 billion, a PE ratio of 16.03 and a beta of 0.92. The business’s 50-day moving average price is $209.78 and its 200 day moving average price is $193.42. Reinsurance Group of America, Incorporated has a twelve month low of $135.07 and a twelve month high of $227.87.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, topping the consensus estimate of $4.94 by $0.54. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 16.23%. The firm had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same period in the previous year, the business earned $4.40 earnings per share. Reinsurance Group of America’s revenue for the quarter was up 17.4% compared to the same quarter last year. On average, research analysts predict that Reinsurance Group of America, Incorporated will post 21.11 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th will be paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Tuesday, August 13th. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 1.73%. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 26.42%.

Insider Buying and Selling

In other news, EVP John W. Hayden sold 1,767 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $206.85, for a total transaction of $365,503.95. Following the completion of the sale, the executive vice president now directly owns 16,490 shares of the company’s stock, valued at $3,410,956.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and set a $225.00 target price on shares of Reinsurance Group of America in a research note on Friday, June 14th. Keefe, Bruyette & Woods increased their price target on shares of Reinsurance Group of America from $220.00 to $235.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. Wells Fargo & Company upped their target price on shares of Reinsurance Group of America from $210.00 to $227.00 and gave the stock an “overweight” rating in a research report on Friday, May 10th. Evercore ISI boosted their price target on Reinsurance Group of America from $225.00 to $241.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 26th. Finally, Piper Sandler lifted their price objective on Reinsurance Group of America from $228.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, June 28th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $216.73.

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.