VIRGINIA RETIREMENT SYSTEMS ET Al Purchases New Holdings in Reinsurance Group of America, Incorporated $RGA

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 7,000 shares of the insurance provider’s stock, valued at approximately $1,489,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Tobam increased its position in shares of Reinsurance Group of America by 244.7% during the 4th quarter. Tobam now owns 162 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 115 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Reinsurance Group of America in the 4th quarter worth about $35,000. Entrust Financial LLC bought a new position in Reinsurance Group of America during the fourth quarter valued at about $40,000. Advisory Services Network LLC bought a new position in Reinsurance Group of America during the third quarter valued at about $38,000. Finally, Whipplewood Advisors LLC increased its holdings in Reinsurance Group of America by 4,400.0% during the first quarter. Whipplewood Advisors LLC now owns 225 shares of the insurance provider’s stock worth $46,000 after buying an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Stock Up 0.5%

Reinsurance Group of America stock opened at $248.74 on Friday. The firm has a 50 day simple moving average of $241.64 and a 200 day simple moving average of $220.17. 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 $257.81. The firm has a market capitalization of $16.24 billion, a price-to-earnings ratio of 10.92 and a beta of 0.47.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, August 6th. The insurance provider reported $8.89 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.67 billion. During the same quarter in the prior year, the business posted $4.72 earnings per share. The business’s quarterly revenue was up 18.5% on a year-over-year basis. On average, analysts predict that Reinsurance Group of America, Incorporated will post 29.68 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

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

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. UBS Group upgraded shares of Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. Evercore restated an “outperform” rating and set a $267.00 price target on shares of Reinsurance Group of America in a research note on Monday, May 18th. Wells Fargo & Company upped their price objective on Reinsurance Group of America from $269.00 to $291.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Weiss Ratings reissued a “buy (b)” rating on shares of Reinsurance Group of America in a report on Friday, August 7th. Finally, JPMorgan Chase & Co. raised their target price on Reinsurance Group of America from $286.00 to $293.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. One research 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 assigned a Sell rating to the stock. According to MarketBeat, Reinsurance Group of America currently has an average rating of “Moderate Buy” and an average target price of $262.56.

Reinsurance Group of America Company Profile

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.