Foster & Motley Inc. Acquires New Position in Reinsurance Group of America, Incorporated $RGA

Foster & Motley Inc. purchased a new stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,935 shares of the insurance provider’s stock, valued at approximately $1,049,000.

Other hedge funds also recently bought and sold shares of the company. Activest Wealth Management bought a new position in Reinsurance Group of America during the fourth quarter worth $30,000. Tobam grew its stake in Reinsurance Group of America by 244.7% during the fourth quarter. Tobam now owns 162 shares of the insurance provider’s stock worth $33,000 after buying an additional 115 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Reinsurance Group of America during the 4th quarter valued at $35,000. Advisory Services Network LLC acquired a new position in shares of Reinsurance Group of America during the third quarter worth approximately $38,000. Finally, Entrust Financial LLC bought a new position in Reinsurance Group of America in the 4th quarter valued at $40,000. 95.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RGA. UBS Group upgraded Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. Piper Sandler cut their price objective on Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. Evercore reaffirmed an “outperform” rating and set a $267.00 price objective on shares of Reinsurance Group of America in a research report on Monday, May 18th. JPMorgan Chase & Co. increased their target price on Reinsurance Group of America from $286.00 to $293.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Reinsurance Group of America in a report on Friday, August 7th. 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 issued a Sell rating to the company. According to data from MarketBeat.com, Reinsurance Group of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $259.56.

Insider Transactions at Reinsurance Group of America

In other news, EVP Jonathan Porter sold 8,589 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $246.30, for a total value of $2,115,470.70. Following the transaction, the executive vice president owned 14,885 shares in the company, valued at $3,666,175.50. This represents a 36.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.60% of the company’s stock.

Reinsurance Group of America Stock Down 1.5%

RGA stock opened at $240.70 on Thursday. The stock has a market cap of $15.72 billion, a price-to-earnings ratio of 10.57 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 1-year low of $178.21 and a 1-year high of $251.00. The company’s 50 day moving average is $229.55 and its 200 day moving average is $216.43.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Thursday, August 6th. The insurance provider reported $8.89 earnings per share for the quarter, beating the consensus estimate of $6.50 by $2.39. Reinsurance Group of America had a return on equity of 14.78% and a net margin of 5.81%.The company had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.67 billion. During the same period in the prior year, the business posted $4.72 EPS. Reinsurance Group of America’s quarterly revenue was up 18.5% compared to the same quarter last year. Sell-side analysts predict that Reinsurance Group of America, Incorporated will post 28.26 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be issued a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, August 18th. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.93. Reinsurance Group of America’s payout ratio is currently 17.22%.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.