Eagle Asset Management Inc. Purchases 15,289 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Eagle Asset Management Inc. increased its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 15.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 112,901 shares of the insurance provider’s stock after purchasing an additional 15,289 shares during the period. Eagle Asset Management Inc.’s holdings in Reinsurance Group of America were worth $25,297,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Banco Santander S.A. boosted its holdings in shares of Reinsurance Group of America by 0.8% in the 3rd quarter. Banco Santander S.A. now owns 55,943 shares of the insurance provider’s stock valued at $12,188,000 after purchasing an additional 428 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in Reinsurance Group of America by 105.3% in the third quarter. First Horizon Advisors Inc. now owns 312 shares of the insurance provider’s stock valued at $68,000 after buying an additional 160 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Reinsurance Group of America in the third quarter valued at about $11,803,000. Tranquility Partners LLC acquired a new position in Reinsurance Group of America during the third quarter worth about $200,000. Finally, Caprock Group LLC bought a new position in shares of Reinsurance Group of America in the third quarter worth about $238,000. 95.11% of the stock is owned by institutional investors.

Reinsurance Group of America Trading Up 0.7 %

RGA opened at $230.74 on Friday. The stock has a market cap of $15.20 billion, a PE ratio of 21.19 and a beta of 0.92. 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, Incorporated has a twelve month low of $157.48 and a twelve month high of $233.14. The company has a fifty day moving average of $219.09 and a 200-day moving average of $212.85.

Reinsurance Group of America (NYSE:RGA) last posted 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. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The firm had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.29 billion. During the same period last year, the company posted $5.57 EPS. The business’s quarterly revenue was up 9.7% on a year-over-year basis. On average, sell-side analysts predict that Reinsurance Group of America, Incorporated will post 21.93 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 1.54%. The ex-dividend date is Friday, November 8th. Reinsurance Group of America’s dividend payout ratio (DPR) is 32.69%.

Insider Activity

In other news, EVP William L. Hutton sold 1,209 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $218.97, for a total value of $264,734.73. Following the completion of the sale, the executive vice president now directly owns 12,357 shares in the company, valued at $2,705,812.29. This trade represents a 8.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.37% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RGA. Raymond James lifted their price target on shares of Reinsurance Group of America from $228.00 to $250.00 and gave the company a “strong-buy” rating in a report on Tuesday, September 24th. Wells Fargo & Company increased their price target on Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. TD Cowen began coverage on Reinsurance Group of America in a research report on Wednesday, October 9th. They set a “hold” rating and a $235.00 price objective on the stock. Keefe, Bruyette & Woods upgraded Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, October 3rd. Finally, Piper Sandler lifted their price target on 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. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $227.77.

Reinsurance Group of America Company 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.