Insight Wealth Strategies LLC Takes $3.55 Million Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Insight Wealth Strategies LLC purchased a new stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 16,285 shares of the insurance provider’s stock, valued at approximately $3,548,000.

A number of other large investors have also made changes to their positions in RGA. GAMMA Investing LLC increased its stake in Reinsurance Group of America by 8.9% in the 3rd quarter. GAMMA Investing LLC now owns 609 shares of the insurance provider’s stock valued at $133,000 after buying an additional 50 shares during the period. GHP Investment Advisors Inc. increased its stake in shares of Reinsurance Group of America by 0.7% during the 2nd quarter. GHP Investment Advisors Inc. now owns 9,462 shares of the insurance provider’s stock worth $1,942,000 after purchasing an additional 62 shares during the last quarter. Covestor Ltd increased its stake 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 purchasing an additional 63 shares during the last quarter. Fiduciary Family Office LLC increased its stake in shares of Reinsurance Group of America by 3.1% during the 2nd quarter. Fiduciary Family Office LLC now owns 2,550 shares of the insurance provider’s stock worth $523,000 after purchasing an additional 76 shares during the last quarter. Finally, Hilltop National Bank increased its stake in shares of Reinsurance Group of America by 13.1% during the 2nd quarter. Hilltop National Bank now owns 706 shares of the insurance provider’s stock worth $145,000 after purchasing an additional 82 shares during the last quarter. Institutional investors and hedge funds own 95.11% of the company’s stock.

Insider Buying and Selling at Reinsurance Group of America

In other news, EVP William L. Hutton sold 1,209 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $218.97, for a total value of $264,734.73. Following the completion of the transaction, the executive vice president now owns 12,357 shares in the company, valued at approximately $2,705,812.29. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.37% of the company’s stock.

Wall Street Analysts Forecast Growth

RGA has been the topic of several analyst reports. Evercore ISI increased their price target on shares of Reinsurance Group of America from $225.00 to $241.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 26th. 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. Jefferies Financial Group increased their price target 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. Keefe, Bruyette & Woods upgraded shares of Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, October 3rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Reinsurance Group of America from $220.00 to $222.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $225.92.

Reinsurance Group of America Stock Performance

Reinsurance Group of America stock traded up $3.82 during mid-day trading on Tuesday, reaching $215.28. The company had a trading volume of 8,181 shares, compared to its average volume of 357,205. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.52. Reinsurance Group of America, Incorporated has a 52 week low of $143.89 and a 52 week high of $227.87. The company has a 50 day moving average of $213.21 and a 200-day moving average of $205.91. The firm has a market cap of $14.16 billion, a price-to-earnings ratio of 16.44 and a beta of 0.91.

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, beating analysts’ consensus estimates of $4.94 by $0.54. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The firm had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $5.07 billion. During the same period in the prior year, the firm earned $4.40 EPS. The business’s revenue was up 17.4% on a year-over-year basis. On average, sell-side analysts expect that Reinsurance Group of America, Incorporated will post 21.7 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were issued a $0.89 dividend. The ex-dividend date of this dividend was Friday, August 9th. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a yield of 1.65%. 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.