Vest Financial LLC Buys 794 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Vest Financial LLC increased its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 17.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,322 shares of the insurance provider’s stock after purchasing an additional 794 shares during the quarter. Vest Financial LLC’s holdings in Reinsurance Group of America were worth $1,092,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. International Assets Investment Management LLC bought a new position in shares of Reinsurance Group of America during the 2nd quarter valued at approximately $28,000. Family Firm Inc. bought a new position in shares of Reinsurance Group of America during the 2nd quarter valued at approximately $29,000. New Covenant Trust Company N.A. bought a new position in shares of Reinsurance Group of America during the 1st quarter valued at approximately $28,000. Rise Advisors LLC bought a new position in shares of Reinsurance Group of America during the 1st quarter valued at approximately $29,000. Finally, LRI Investments LLC bought a new position in shares of Reinsurance Group of America during the 1st quarter valued at approximately $33,000. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Price Performance

RGA opened at $211.93 on Friday. Reinsurance Group of America, Incorporated has a 12-month low of $140.39 and a 12-month high of $227.87. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.52. The business’s fifty day simple moving average is $211.88 and its 200-day simple moving average is $201.48. The company has a market capitalization of $13.96 billion, a price-to-earnings ratio of 16.47 and a beta of 0.91.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 earnings per share for the quarter, topping analysts’ consensus estimates of $4.94 by $0.54. The firm had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $5.07 billion. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the business posted $4.40 EPS. On average, equities research analysts anticipate that Reinsurance Group of America, Incorporated will post 21.5 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were paid a dividend of $0.89 per share. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Friday, August 9th. Reinsurance Group of America’s dividend payout ratio is 27.66%.

Wall Street Analyst Weigh In

Several brokerages have commented on RGA. UBS Group upped their price objective on Reinsurance Group of America from $223.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Raymond James upped their price objective on Reinsurance Group of America from $212.00 to $228.00 and gave the company a “strong-buy” rating in a research report on Friday, June 14th. Citigroup upped their price objective on Reinsurance Group of America from $194.00 to $252.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Barclays began coverage on Reinsurance Group of America in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $255.00 price objective on the stock. Finally, Piper Sandler upped their price objective on Reinsurance Group of America from $228.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, June 28th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $223.33.

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.