VIRGINIA RETIREMENT SYSTEMS ET Al Purchases Shares of 7,000 Reinsurance Group of America, Incorporated $RGA

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) in the second quarter, Holdings Channel.com reports. The firm purchased 7,000 shares of the insurance provider’s stock, valued at approximately $1,489,000.

A number of other hedge funds have also recently made changes to their positions in the company. Greenleaf Trust increased its holdings in shares of Reinsurance Group of America by 2.4% in the second quarter. Greenleaf Trust now owns 1,811 shares of the insurance provider’s stock worth $385,000 after purchasing an additional 42 shares during the period. Principal Securities Inc. boosted its stake in Reinsurance Group of America by 3.6% during the fourth quarter. Principal Securities Inc. now owns 1,490 shares of the insurance provider’s stock valued at $303,000 after buying an additional 52 shares during the period. Rehmann Capital Advisory Group increased its stake in Reinsurance Group of America by 1.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 4,281 shares of the insurance provider’s stock worth $819,000 after acquiring an additional 54 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in Reinsurance Group of America by 6.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 974 shares of the insurance provider’s stock worth $198,000 after acquiring an additional 56 shares during the last quarter. Finally, Covestor Ltd raised its holdings in shares of Reinsurance Group of America by 12.2% in the 4th quarter. Covestor Ltd now owns 533 shares of the insurance provider’s stock valued at $108,000 after acquiring an additional 58 shares in the last quarter. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RGA. Weiss Ratings restated a “buy (b)” rating on shares of Reinsurance Group of America in a research report on Friday, August 7th. JPMorgan Chase & Co. boosted their price target on shares of Reinsurance Group of America from $286.00 to $293.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Morgan Stanley increased their price target on shares of Reinsurance Group of America from $223.00 to $250.00 and gave the stock an “equal weight” rating in a report on Monday, August 24th. TD Cowen raised their price objective on shares of Reinsurance Group of America from $212.00 to $235.00 and gave the company a “hold” rating in a research report on Wednesday, July 22nd. Finally, Evercore reaffirmed an “outperform” rating and set a $267.00 price objective on shares of Reinsurance Group of America in a report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Reinsurance Group of America currently has an average rating of “Moderate Buy” and a consensus price target of $262.56.

Insider Transactions at Reinsurance Group of America

In other Reinsurance Group of America news, EVP Jonathan Porter sold 8,589 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $246.30, for a total transaction of $2,115,470.70. Following the completion of the sale, the executive vice president directly owned 14,885 shares in the company, valued at $3,666,175.50. This represents a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.60% of the stock is currently owned by insiders.

Reinsurance Group of America Price Performance

Shares of Reinsurance Group of America stock opened at $248.74 on Friday. The firm has a market capitalization of $16.24 billion, a PE ratio of 10.92 and a beta of 0.47. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.41. Reinsurance Group of America, Incorporated has a 12 month low of $178.21 and a 12 month high of $257.81. The business’s 50-day moving average price is $241.64 and its 200-day moving average price is $220.17.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings data on Thursday, August 6th. The insurance provider reported $8.89 earnings per share for the quarter, topping analysts’ consensus estimates of $6.50 by $2.39. Reinsurance Group of America had a net margin of 5.81% and a return on equity of 14.78%. The firm had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.67 billion. During the same period in the previous year, the business posted $4.72 EPS. The business’s quarterly revenue was up 18.5% on a year-over-year basis. Sell-side analysts forecast that Reinsurance Group of America, Incorporated will post 29.68 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th were paid a $0.98 dividend. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.93. This represents a $3.92 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Tuesday, August 18th. Reinsurance Group of America’s payout ratio is presently 17.22%.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated (NYSE:RGA) is a global provider of life and health reinsurance. The company helps insurance and financial services companies manage mortality, longevity, morbidity and other risks by assuming portions of their insurance obligations and providing capital and risk-management support.

RGA’s business includes traditional life reinsurance, health reinsurance, longevity solutions and financial solutions. Its offerings support products such as life insurance, annuities, critical illness coverage, disability insurance and other health-related protection products.