Public Employees Retirement System of Ohio Buys 7,714 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Public Employees Retirement System of Ohio increased its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 22.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,520 shares of the insurance provider’s stock after purchasing an additional 7,714 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Reinsurance Group of America were worth $9,264,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Earnest Partners LLC lifted its holdings in Reinsurance Group of America by 1.9% during the 2nd quarter. Earnest Partners LLC now owns 2,628,129 shares of the insurance provider’s stock worth $539,476,000 after buying an additional 50,228 shares in the last quarter. WCM Investment Management LLC lifted its stake in shares of Reinsurance Group of America by 1,208.5% during the third quarter. WCM Investment Management LLC now owns 2,447,668 shares of the insurance provider’s stock valued at $527,742,000 after acquiring an additional 2,260,605 shares during the period. Sei Investments Co. boosted its holdings in Reinsurance Group of America by 5.9% in the second quarter. Sei Investments Co. now owns 825,719 shares of the insurance provider’s stock valued at $169,497,000 after acquiring an additional 45,709 shares during the last quarter. Zurich Insurance Group Ltd FI increased its position in Reinsurance Group of America by 681.8% in the second quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider’s stock worth $104,244,000 after purchasing an additional 442,883 shares during the period. Finally, Millennium Management LLC raised its holdings in Reinsurance Group of America by 43.8% during the 2nd quarter. Millennium Management LLC now owns 437,266 shares of the insurance provider’s stock worth $89,758,000 after purchasing an additional 133,212 shares during the last quarter. Institutional investors and hedge funds own 95.11% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RGA. Royal Bank of Canada raised their target price on shares of Reinsurance Group of America from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Wells Fargo & Company lifted their target price on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Morgan Stanley dropped their target price on shares of Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. StockNews.com upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Finally, TD Cowen started coverage on Reinsurance Group of America in a report on Wednesday, October 9th. They issued a “hold” rating and a $235.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Reinsurance Group of America has a consensus rating of “Moderate Buy” and an average price target of $227.77.

Insider Buying and Selling

In other news, EVP William L. Hutton sold 1,209 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 12,357 shares of the company’s stock, valued at $2,705,812.29. This trade represents a 8.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.37% of the company’s stock.

Reinsurance Group of America Stock Up 0.4 %

Shares of Reinsurance Group of America stock opened at $211.33 on Friday. The company has a market capitalization of $13.92 billion, a P/E ratio of 19.41 and a beta of 0.93. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.17 and a quick ratio of 0.17. The business has a 50-day moving average of $220.43 and a two-hundred day moving average of $214.23. Reinsurance Group of America, Incorporated has a 1 year low of $157.48 and a 1 year high of $233.81.

Reinsurance Group of America (NYSE:RGA) last announced 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 for the quarter, compared to the consensus estimate 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. As a group, equities analysts predict that Reinsurance Group of America, Incorporated will post 21.67 EPS 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. Investors of record on Tuesday, November 12th were given a $0.89 dividend. The ex-dividend date was Friday, November 8th. This represents a $3.56 annualized dividend and a yield of 1.68%. Reinsurance Group of America’s dividend payout ratio is currently 32.69%.

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.