Tranquility Partners LLC Takes $200,000 Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Tranquility Partners LLC bought a new stake in Reinsurance Group of America, Incorporated (NYSE:RGA) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 918 shares of the insurance provider’s stock, valued at approximately $200,000.

Other hedge funds have also bought and sold shares of the company. Earnest Partners LLC raised 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 buying an additional 50,228 shares during the period. WCM Investment Management LLC raised its stake in 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 valued at $527,742,000 after acquiring an additional 2,260,605 shares during the period. Sei Investments Co. lifted its holdings in 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 purchasing an additional 45,709 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Reinsurance Group of America by 2.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 584,137 shares of the insurance provider’s stock worth $112,668,000 after purchasing an additional 15,926 shares during the period. Finally, Zurich Insurance Group Ltd FI increased its holdings in shares of 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 valued at $104,244,000 after purchasing an additional 442,883 shares during the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the 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 transaction, the executive vice president now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.37% of the stock is owned by corporate insiders.

Reinsurance Group of America Price Performance

Shares of RGA stock opened at $227.22 on Wednesday. The business has a fifty day simple moving average of $217.71 and a 200 day simple moving average of $212.25. The company has a market cap of $14.97 billion, a P/E ratio of 20.87 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 $157.45 and a twelve month high of $233.14.

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 analysts’ consensus estimates of $5.31 by $0.82. The firm had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.29 billion. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.57 earnings per share. On average, sell-side analysts forecast that Reinsurance Group of America, Incorporated will post 21.93 EPS 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 issued 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%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RGA. Morgan Stanley reduced 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 report on Monday, August 19th. TD Cowen began coverage on Reinsurance Group of America in a research report on Wednesday, October 9th. They issued a “hold” rating and a $235.00 target price on the stock. Keefe, Bruyette & Woods raised Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, October 3rd. Piper Sandler upped their price objective on Reinsurance Group of America from $237.00 to $242.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada lifted their target price on Reinsurance Group of America from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Three 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 company. According to MarketBeat.com, Reinsurance Group of America presently has an average rating of “Moderate Buy” and an average target price of $227.38.

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.