Northwest & Ethical Investments L.P. Boosts Stake in Reinsurance Group of America, Incorporated (NYSE:RGA)

Northwest & Ethical Investments L.P. grew its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 16.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 31,730 shares of the insurance provider’s stock after acquiring an additional 4,510 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Reinsurance Group of America were worth $6,913,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of RGA. Armstrong Advisory Group Inc. acquired a new stake in shares of Reinsurance Group of America in the third quarter worth $25,000. International Assets Investment Management LLC acquired a new stake in Reinsurance Group of America in the 2nd quarter valued at $28,000. Family Firm Inc. purchased a new position in Reinsurance Group of America in the second quarter valued at about $29,000. Private Trust Co. NA lifted its stake in shares of Reinsurance Group of America by 333.3% during the third quarter. Private Trust Co. NA now owns 156 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 120 shares in the last quarter. Finally, Wolff Wiese Magana LLC purchased a new stake in shares of Reinsurance Group of America in the third quarter worth about $34,000. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Raymond James upped their price target on Reinsurance Group of America from $228.00 to $250.00 and gave the stock a “strong-buy” rating in a report on Tuesday, September 24th. Morgan Stanley dropped their price target on shares of Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Barclays upped their price objective on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Piper Sandler lifted their target price on Reinsurance Group of America from $237.00 to $242.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Finally, TD Cowen started coverage on Reinsurance Group of America in a research note on Wednesday, October 9th. They issued a “hold” rating and a $235.00 price target on the stock. Three equities research 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $227.77.

Reinsurance Group of America Price Performance

Shares of NYSE RGA opened at $229.46 on Friday. The business has a 50 day simple moving average of $220.07 and a 200-day simple moving average of $213.53. Reinsurance Group of America, Incorporated has a twelve month low of $157.48 and a twelve month high of $233.81. The company has a market capitalization of $15.11 billion, a price-to-earnings ratio of 21.07 and a beta of 0.92. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.45.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company 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 firm posted $5.57 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, equities research analysts expect that Reinsurance Group of America, Incorporated will post 21.93 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Friday, November 8th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 32.69%.

Insider Transactions at Reinsurance Group of America

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total value of $264,734.73. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.37% of the company’s stock.

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.