Atria Investments Inc Takes $2.66 Million Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Atria Investments Inc purchased a new stake in Reinsurance Group of America, Incorporated (NYSE:RGA) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 13,791 shares of the insurance provider’s stock, valued at approximately $2,660,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Covestor Ltd grew its position in shares of Reinsurance Group of America by 20.3% during the 1st quarter. Covestor Ltd now owns 374 shares of the insurance provider’s stock worth $72,000 after buying an additional 63 shares in the last quarter. Toth Financial Advisory Corp increased its position in Reinsurance Group of America by 41.2% during the 4th quarter. Toth Financial Advisory Corp now owns 240 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 70 shares during the period. Lindbrook Capital LLC raised its holdings in shares of Reinsurance Group of America by 129.9% in the 4th quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 87 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of Reinsurance Group of America by 2.2% in the 4th quarter. Private Advisor Group LLC now owns 4,246 shares of the insurance provider’s stock worth $687,000 after purchasing an additional 92 shares during the period. Finally, Oliver Luxxe Assets LLC lifted its position in shares of Reinsurance Group of America by 2.2% in the 1st quarter. Oliver Luxxe Assets LLC now owns 4,791 shares of the insurance provider’s stock worth $924,000 after purchasing an additional 104 shares during the period. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Reinsurance Group of America from $220.00 to $235.00 and gave the stock an “outperform” rating in a report on Tuesday, May 7th. Jefferies Financial Group boosted their price objective on shares of Reinsurance Group of America from $63.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Citigroup raised their target price on shares of Reinsurance Group of America from $194.00 to $252.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. upped their price target on Reinsurance Group of America from $208.00 to $220.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $225.00 target price on shares of Reinsurance Group of America in a research note on Friday, June 14th. Two 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. According to MarketBeat.com, Reinsurance Group of America currently has an average rating of “Moderate Buy” and a consensus price target of $216.73.

Reinsurance Group of America Stock Performance

Reinsurance Group of America stock traded down $16.69 during trading hours on Friday, hitting $206.31. 1,227,518 shares of the stock traded hands, compared to its average volume of 463,604. Reinsurance Group of America, Incorporated has a 1 year low of $135.07 and a 1 year high of $227.87. The stock has a market capitalization of $13.57 billion, a price-to-earnings ratio of 16.03 and a beta of 0.92. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.19 and a quick ratio of 0.19. The firm’s 50 day moving average price is $209.78 and its 200-day moving average price is $193.42.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share for the quarter, topping the consensus estimate of $4.94 by $0.54. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 16.23%. The company had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $5.07 billion. During the same quarter in the prior year, the company earned $4.40 EPS. Reinsurance Group of America’s quarterly revenue was up 17.4% on a year-over-year basis. As a group, equities analysts expect that Reinsurance Group of America, Incorporated will post 21.11 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Tuesday, August 13th. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.85. Reinsurance Group of America’s dividend payout ratio (DPR) is 26.42%.

Insider Activity

In related news, EVP John W. Hayden sold 1,767 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $206.85, for a total transaction of $365,503.95. Following the sale, the executive vice president now directly owns 16,490 shares of the company’s stock, valued at $3,410,956.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.37% of the company’s stock.

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.