The Manufacturers Life Insurance Company Has $30.57 Million Stock Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

The Manufacturers Life Insurance Company lifted its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 15.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 148,907 shares of the insurance provider’s stock after buying an additional 19,711 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.23% of Reinsurance Group of America worth $30,566,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Pineridge Advisors LLC bought a new stake in Reinsurance Group of America during the fourth quarter valued at about $26,000. New Covenant Trust Company N.A. bought a new stake in Reinsurance Group of America during the 1st quarter valued at approximately $28,000. International Assets Investment Management LLC acquired a new stake in Reinsurance Group of America in the 2nd quarter valued at approximately $28,000. Rise Advisors LLC bought a new position in Reinsurance Group of America in the 1st quarter worth approximately $29,000. Finally, Family Firm Inc. acquired a new position in shares of Reinsurance Group of America during the second quarter worth approximately $29,000. 95.11% of the stock is owned by institutional investors.

Insider Buying and Selling at Reinsurance Group of America

In other news, EVP William L. Hutton sold 1,209 shares of the firm’s 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 transaction, the executive vice president now directly owns 12,357 shares in the company, valued at approximately $2,705,812.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.37% of the company’s stock.

Reinsurance Group of America Stock Performance

NYSE:RGA opened at $217.87 on Tuesday. The stock has a market capitalization of $14.33 billion, a P/E ratio of 16.93 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. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.52. The firm has a 50 day moving average of $213.44 and a 200-day moving average of $205.00.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, topping the consensus estimate of $4.94 by $0.54. The company 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%. Reinsurance Group of America’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.40 EPS. As a group, sell-side analysts anticipate that Reinsurance Group of America, Incorporated will post 21.7 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Jefferies Financial Group boosted their target price on shares of Reinsurance Group of America from $63.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. StockNews.com upgraded shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Friday. Royal Bank of Canada boosted their price target on Reinsurance Group of America from $225.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Evercore ISI upped their price target on Reinsurance Group of America from $225.00 to $241.00 and gave the company an “outperform” rating in a report on Wednesday, June 26th. Finally, Wells Fargo & Company lifted their price objective on Reinsurance Group of America from $236.00 to $239.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $225.17.

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.