State Board of Administration of Florida Retirement System Increases Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

State Board of Administration of Florida Retirement System lifted its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 5.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,400 shares of the insurance provider’s stock after purchasing an additional 3,247 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.10% of Reinsurance Group of America worth $13,000,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in RGA. Raymond James & Associates boosted its position in shares of Reinsurance Group of America by 13.0% in the 4th quarter. Raymond James & Associates now owns 244,771 shares of the insurance provider’s stock worth $39,599,000 after purchasing an additional 28,193 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Reinsurance Group of America by 99.3% in the 4th quarter. Pacer Advisors Inc. now owns 11,075 shares of the insurance provider’s stock worth $1,792,000 after purchasing an additional 5,518 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Reinsurance Group of America by 231.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 142,322 shares of the insurance provider’s stock worth $23,025,000 after purchasing an additional 99,406 shares in the last quarter. Tectonic Advisors LLC boosted its position in shares of Reinsurance Group of America by 4.3% in the 4th quarter. Tectonic Advisors LLC now owns 1,979 shares of the insurance provider’s stock worth $320,000 after purchasing an additional 82 shares in the last quarter. Finally, Canvas Wealth Advisors LLC boosted its position in shares of Reinsurance Group of America by 58.8% in the 4th quarter. Canvas Wealth Advisors LLC now owns 5,220 shares of the insurance provider’s stock worth $880,000 after purchasing an additional 1,932 shares in the last quarter. Institutional investors and hedge funds own 95.11% of the company’s stock.

Reinsurance Group of America Stock Performance

NYSE RGA opened at $213.40 on Friday. The stock has a 50-day simple moving average of $207.74 and a two-hundred day simple moving average of $189.71. The firm has a market capitalization of $14.04 billion, a P/E ratio of 16.58 and a beta of 0.92. Reinsurance Group of America, Incorporated has a fifty-two week low of $135.07 and a fifty-two week high of $217.34. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.19 and a current ratio of 0.19.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Friday, May 3rd. The insurance provider reported $6.02 earnings per share for the quarter, beating analysts’ consensus estimates of $4.55 by $1.47. Reinsurance Group of America had a return on equity of 15.94% and a net margin of 4.16%. The business had revenue of $6.34 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same quarter last year, the business posted $5.16 EPS. On average, equities analysts forecast that Reinsurance Group of America, Incorporated will post 21.11 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th were paid a $0.85 dividend. The ex-dividend date of this dividend was Monday, May 13th. This represents a $3.40 annualized dividend and a dividend yield of 1.59%. Reinsurance Group of America’s dividend payout ratio is presently 26.42%.

Insider Activity at Reinsurance Group of America

In related news, EVP John W. Hayden sold 1,767 shares of Reinsurance Group of America stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $206.85, for a total value of $365,503.95. Following the completion of the transaction, the executive vice president now owns 16,490 shares in the company, valued at approximately $3,410,956.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.37% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on RGA shares. Piper Sandler raised their price objective on Reinsurance Group of America from $228.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, June 28th. Raymond James lifted their price target on Reinsurance Group of America from $212.00 to $228.00 and gave the stock a “strong-buy” rating in a research report on Friday, June 14th. Keefe, Bruyette & Woods lifted their price target on Reinsurance Group of America from $220.00 to $235.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th. Wells Fargo & Company lifted their price target on Reinsurance Group of America from $210.00 to $227.00 and gave the stock an “overweight” rating in a research report on Friday, May 10th. Finally, Evercore ISI lifted their price target on Reinsurance Group of America from $225.00 to $241.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 26th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $207.45.

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.