81,128 Shares in Reinsurance Group of America, Incorporated (NYSE:RGA) Acquired by M&G Plc

M&G Plc bought a new stake in Reinsurance Group of America, Incorporated (NYSE:RGA) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 81,128 shares of the insurance provider’s stock, valued at approximately $15,658,000. M&G Plc owned approximately 0.12% of Reinsurance Group of America at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Lindbrook Capital LLC grew its position in Reinsurance Group of America by 129.9% during the 4th quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 87 shares during the last quarter. Pineridge Advisors LLC bought a new stake in shares of Reinsurance Group of America during the fourth quarter worth about $26,000. Rise Advisors LLC acquired a new position in shares of Reinsurance Group of America in the first quarter valued at approximately $29,000. Toth Financial Advisory Corp raised its holdings in Reinsurance Group of America by 41.2% in the 4th quarter. Toth Financial Advisory Corp now owns 240 shares of the insurance provider’s stock valued at $39,000 after buying an additional 70 shares during the last quarter. Finally, Janiczek Wealth Management LLC grew its holdings in Reinsurance Group of America by 40.8% during the 1st quarter. Janiczek Wealth Management LLC now owns 383 shares of the insurance provider’s stock worth $74,000 after acquiring an additional 111 shares during the last quarter. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Stock Down 0.5 %

NYSE:RGA traded down $1.01 on Friday, hitting $213.40. The stock had a trading volume of 367,688 shares, compared to its average volume of 350,839. The company has a market cap of $14.04 billion, a PE ratio of 16.58 and a beta of 0.92. Reinsurance Group of America, Incorporated has a 52 week low of $135.07 and a 52 week high of $217.34. The business’s fifty day moving average is $207.74 and its 200 day moving average is $189.89. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.46.

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

Reinsurance Group of America Announces Dividend

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

Insider Buying and Selling

In other Reinsurance Group of America 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 transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.37% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $225.00 target price on shares of Reinsurance Group of America in a research report on Friday, June 14th. Morgan Stanley increased their price objective on shares of Reinsurance Group of America from $216.00 to $217.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 10th. Raymond James boosted their target price on shares of Reinsurance Group of America from $212.00 to $228.00 and gave the company a “strong-buy” rating in a report on Friday, June 14th. Evercore ISI increased their price target on Reinsurance Group of America from $225.00 to $241.00 and gave the stock an “outperform” rating in a report on Wednesday, June 26th. Finally, Wells Fargo & Company boosted their price objective on Reinsurance Group of America from $210.00 to $227.00 and gave the company an “overweight” rating in a research note on Friday, May 10th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Reinsurance Group of America currently has an average rating of “Moderate Buy” and a consensus price target of $207.45.

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.