Raymond James & Associates Buys 28,193 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Raymond James & Associates raised its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 13.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 244,771 shares of the insurance provider’s stock after acquiring an additional 28,193 shares during the quarter. Raymond James & Associates owned approximately 0.37% of Reinsurance Group of America worth $39,599,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in RGA. Picton Mahoney Asset Management grew its holdings in Reinsurance Group of America by 121.9% in the third quarter. Picton Mahoney Asset Management now owns 122,552 shares of the insurance provider’s stock worth $17,794,000 after purchasing an additional 67,318 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in Reinsurance Group of America by 93.8% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 22,655 shares of the insurance provider’s stock valued at $3,289,000 after acquiring an additional 10,968 shares in the last quarter. Amalgamated Bank increased its stake in shares of Reinsurance Group of America by 12.5% during the 3rd quarter. Amalgamated Bank now owns 48,884 shares of the insurance provider’s stock valued at $7,097,000 after acquiring an additional 5,434 shares during the last quarter. Aspire Private Capital LLC lifted its position in Reinsurance Group of America by 4.8% during the 3rd quarter. Aspire Private Capital LLC now owns 2,246 shares of the insurance provider’s stock worth $326,000 after acquiring an additional 103 shares in the last quarter. Finally, UBS Group AG raised its stake in shares of Reinsurance Group of America by 70.2% in the 3rd quarter. UBS Group AG now owns 69,968 shares of the insurance provider’s stock valued at $10,159,000 after purchasing an additional 28,858 shares in the last quarter. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Reinsurance Group of America news, CFO Todd C. Larson sold 2,966 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $182.88, for a total value of $542,422.08. Following the sale, the chief financial officer now owns 49,549 shares of the company’s stock, valued at approximately $9,061,521.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP William L. Hutton sold 1,908 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $181.84, for a total transaction of $346,950.72. Following the transaction, the executive vice president now directly owns 13,363 shares of the company’s stock, valued at $2,429,927.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Todd C. Larson sold 2,966 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $182.88, for a total value of $542,422.08. Following the transaction, the chief financial officer now directly owns 49,549 shares of the company’s stock, valued at approximately $9,061,521.12. The disclosure for this sale can be found here. Insiders sold 6,462 shares of company stock worth $1,162,239 over the last ninety days. Company insiders own 1.31% of the company’s stock.

Reinsurance Group of America Trading Down 0.2 %

Shares of RGA opened at $192.82 on Friday. Reinsurance Group of America, Incorporated has a 12-month low of $131.29 and a 12-month high of $194.72. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.48. The firm has a 50-day moving average price of $175.78 and a 200 day moving average price of $162.65. The firm has a market capitalization of $12.68 billion, a P/E ratio of 14.36 and a beta of 0.88.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Friday, February 2nd. The insurance provider reported $4.73 earnings per share for the quarter, beating analysts’ consensus estimates of $4.40 by $0.33. The firm had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.57 billion. Reinsurance Group of America had a net margin of 4.86% and a return on equity of 16.20%. Reinsurance Group of America’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period last year, the firm posted $2.99 EPS. Sell-side analysts forecast that Reinsurance Group of America, Incorporated will post 19.26 EPS for the current year.

Reinsurance Group of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Monday, February 12th. This represents a $3.40 dividend on an annualized basis and a yield of 1.76%. Reinsurance Group of America’s dividend payout ratio is currently 25.32%.

Analysts Set New Price Targets

RGA has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on shares of Reinsurance Group of America from $186.00 to $193.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $200.00 price target on shares of Reinsurance Group of America in a research note on Tuesday. Royal Bank of Canada lifted their price target on Reinsurance Group of America from $170.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Jefferies Financial Group upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating and increased their price target for the company from $171.00 to $189.00 in a research note on Monday, December 11th. Finally, UBS Group boosted their price target on Reinsurance Group of America from $191.00 to $198.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Reinsurance Group of America currently has an average rating of “Moderate Buy” and a consensus price target of $179.00.

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.