Claro Advisors LLC Makes New $213,000 Investment in Reinsurance Group of America, Incorporated (NYSE:RGA)

Claro Advisors LLC purchased a new stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 976 shares of the insurance provider’s stock, valued at approximately $213,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of RGA. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Reinsurance Group of America by 50.9% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 7,486 shares of the insurance provider’s stock worth $1,459,000 after acquiring an additional 2,524 shares during the period. Covestor Ltd grew its stake in shares of Reinsurance Group of America by 20.3% in the 1st 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. CANADA LIFE ASSURANCE Co raised its holdings in shares of Reinsurance Group of America by 1.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 51,454 shares of the insurance provider’s stock worth $9,919,000 after purchasing an additional 779 shares in the last quarter. Wellington Wealth Strategies LLC. acquired a new stake in Reinsurance Group of America during the first quarter valued at approximately $236,000. Finally, Keeley Teton Advisors LLC boosted its holdings in Reinsurance Group of America by 7.3% during the first quarter. Keeley Teton Advisors LLC now owns 20,980 shares of the insurance provider’s stock worth $4,047,000 after buying an additional 1,434 shares in the last quarter. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Stock Down 1.9 %

Shares of Reinsurance Group of America stock opened at $227.22 on Wednesday. The firm has a market cap of $14.96 billion, a price-to-earnings ratio of 20.87 and a beta of 0.92. The stock has a 50-day simple moving average of $217.71 and a 200-day simple moving average of $212.25. Reinsurance Group of America, Incorporated has a 52-week low of $157.45 and a 52-week high of $233.14. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.17 and a quick ratio of 0.17.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share for the quarter, beating analysts’ consensus estimates of $5.31 by $0.82. The business had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.29 billion. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%. Reinsurance Group of America’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the firm earned $5.57 EPS. On average, equities research analysts expect that Reinsurance Group of America, Incorporated will post 21.93 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.56 annualized dividend and a dividend yield of 1.57%. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 32.69%.

Insider Activity at Reinsurance Group of America

In related news, EVP William L. Hutton sold 1,209 shares of the stock in a transaction dated Monday, September 23rd. The shares were 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 owns 12,357 shares in the company, valued at approximately $2,705,812.29. This trade represents a 8.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.37% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Raymond James increased their price objective on Reinsurance Group of America from $228.00 to $250.00 and gave the company a “strong-buy” rating in a research report on Tuesday, September 24th. Morgan Stanley reduced their price objective 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 note on Monday, August 19th. Citigroup lifted their target price on shares of Reinsurance Group of America from $194.00 to $252.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Barclays reduced their price target on shares of Reinsurance Group of America from $255.00 to $250.00 and set an “overweight” rating for the company in a research report on Tuesday, October 8th. Finally, Piper Sandler boosted their target price on shares of 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 research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $227.38.

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.