Mutual of America Capital Management LLC Purchases 822 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Mutual of America Capital Management LLC lifted its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 1.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 55,518 shares of the insurance provider’s stock after buying an additional 822 shares during the period. Mutual of America Capital Management LLC owned about 0.08% of Reinsurance Group of America worth $11,396,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RGA. Norges Bank bought a new position in Reinsurance Group of America during the fourth quarter valued at approximately $122,301,000. Junto Capital Management LP bought a new position in Reinsurance Group of America during the fourth quarter valued at approximately $92,083,000. Balyasny Asset Management L.P. bought a new position in Reinsurance Group of America during the fourth quarter valued at approximately $67,177,000. Corient Private Wealth LLC lifted its position in Reinsurance Group of America by 1,965.4% during the fourth quarter. Corient Private Wealth LLC now owns 298,352 shares of the insurance provider’s stock valued at $48,267,000 after purchasing an additional 283,907 shares during the period. Finally, Public Employees Retirement Association of Colorado lifted its position in Reinsurance Group of America by 713.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 291,125 shares of the insurance provider’s stock valued at $47,098,000 after purchasing an additional 255,326 shares during the period. Institutional investors own 95.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on RGA shares. Wells Fargo & Company increased their price objective on shares of Reinsurance Group of America from $236.00 to $239.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Barclays assumed coverage on shares of Reinsurance Group of America in a research report on Wednesday, September 4th. They set an “overweight” rating and a $255.00 price objective on the stock. UBS Group upped their target price on shares of Reinsurance Group of America from $223.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. upped their target price on shares of Reinsurance Group of America from $208.00 to $220.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Evercore ISI upped their target price on shares of Reinsurance Group of America from $225.00 to $241.00 and gave the company an “outperform” rating in a report on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Reinsurance Group of America presently has an average rating of “Moderate Buy” and an average target price of $223.33.

Reinsurance Group of America Stock Performance

Shares of NYSE RGA opened at $218.58 on Thursday. The firm has a fifty day moving average price of $212.68 and a 200-day moving average price of $202.82. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.17 and a quick ratio of 0.17. The stock has a market cap of $14.40 billion, a PE ratio of 16.98 and a beta of 0.91. Reinsurance Group of America, Incorporated has a 1 year low of $140.39 and a 1 year high of $227.87.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.94 by $0.54. The firm had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $5.07 billion. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the prior year, the company posted $4.40 earnings per share. Equities analysts anticipate that Reinsurance Group of America, Incorporated will post 21.5 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were paid a $0.89 dividend. The ex-dividend date was Friday, August 9th. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.63%. Reinsurance Group of America’s dividend payout ratio is 27.66%.

Reinsurance Group of America 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.