B. Riley Wealth Advisors Inc. Buys Shares of 1,010 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 third quarter, according to the company in its most recent Form 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.

Several other institutional investors and hedge funds have also recently made changes to their positions in RGA. Earnest Partners LLC increased its stake in Reinsurance Group of America by 1.9% in the second quarter. Earnest Partners LLC now owns 2,628,129 shares of the insurance provider’s stock valued at $539,476,000 after acquiring an additional 50,228 shares during the last quarter. WCM Investment Management LLC boosted its holdings in shares of Reinsurance Group of America by 1,208.5% in the 3rd quarter. WCM Investment Management LLC now owns 2,447,668 shares of the insurance provider’s stock worth $527,742,000 after purchasing an additional 2,260,605 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Reinsurance Group of America by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,109,766 shares of the insurance provider’s stock valued at $241,849,000 after purchasing an additional 18,162 shares during the last quarter. Sei Investments Co. raised its holdings in shares of Reinsurance Group of America by 5.9% during the 2nd quarter. Sei Investments Co. now owns 825,719 shares of the insurance provider’s stock valued at $169,497,000 after buying an additional 45,709 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI lifted its position in Reinsurance Group of America by 681.8% in the 2nd quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider’s stock worth $104,244,000 after buying an additional 442,883 shares during the last quarter. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Wall Street Analyst Weigh In

RGA has been the topic of several research reports. TD Cowen initiated coverage on shares of Reinsurance Group of America in a research note on Wednesday, October 9th. They set a “hold” rating and a $235.00 price target on the stock. Barclays lifted their target price on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Wells Fargo & Company upped their price target on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Raymond James lifted their price objective on Reinsurance Group of America from $228.00 to $250.00 and gave the stock a “strong-buy” rating in a report on Tuesday, September 24th. Finally, StockNews.com upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Reinsurance Group of America currently has an average rating of “Moderate Buy” and a consensus price target of $227.77.

Reinsurance Group of America Price Performance

Shares of Reinsurance Group of America stock opened at $207.54 on Friday. The company has a market cap of $13.67 billion, a PE ratio of 19.06 and a beta of 0.93. The business has a 50 day moving average of $219.46 and a 200 day moving average of $214.23. Reinsurance Group of America, Incorporated has a 52 week low of $159.82 and a 52 week high of $233.81. 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 (NYSE:RGA) last posted its earnings results on Thursday, October 31st. The insurance provider reported $6.13 EPS for the quarter, topping the consensus estimate of $5.31 by $0.82. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%. The firm had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.29 billion. During the same period last year, the company posted $5.57 EPS. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, equities research analysts forecast that Reinsurance Group of America, Incorporated will post 21.67 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were issued a dividend of $0.89 per share. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is 32.69%.

Insider Transactions at Reinsurance Group of America

In related news, EVP William L. Hutton sold 1,209 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was 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 of the company’s stock, valued at $2,705,812.29. This represents a 8.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate 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.