Foster & Motley Inc. Purchases Shares of 4,935 Reinsurance Group of America, Incorporated $RGA

Foster & Motley Inc. acquired a new position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,935 shares of the insurance provider’s stock, valued at approximately $1,049,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Activest Wealth Management purchased a new position in Reinsurance Group of America during the fourth quarter worth about $30,000. Tobam increased its stake 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 acquiring an additional 115 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Reinsurance Group of America during the 4th quarter worth about $35,000. Entrust Financial LLC purchased a new position in shares of Reinsurance Group of America during the 4th quarter worth about $40,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Reinsurance Group of America in the third quarter worth approximately $38,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Jonathan Porter sold 8,589 shares of Reinsurance Group of America stock in a transaction that occurred on 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 approximately $3,666,175.50. This trade represents a 36.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is currently owned by corporate insiders.

Reinsurance Group of America Trading Down 1.5%

NYSE:RGA opened at $240.70 on Thursday. The business’s 50-day moving average is $229.55 and its two-hundred day moving average is $216.43. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.14 and a quick ratio of 0.14. The firm has a market capitalization of $15.72 billion, a PE ratio of 10.57 and a beta of 0.47. Reinsurance Group of America, Incorporated has a 12 month low of $178.21 and a 12 month high of $251.00.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, August 6th. The insurance provider reported $8.89 EPS for the quarter, beating analysts’ consensus estimates 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 during 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. Reinsurance Group of America’s revenue for the quarter was up 18.5% on a year-over-year basis. Research analysts predict that Reinsurance Group of America, Incorporated will post 28.26 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a dividend of $0.98 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $3.92 annualized dividend and a yield of 1.6%. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.93. Reinsurance Group of America’s dividend payout ratio (DPR) is 17.22%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RGA shares. TD Cowen upped their price target on shares of Reinsurance Group of America from $212.00 to $235.00 and gave the stock a “hold” rating in a research report on Wednesday, July 22nd. Wall Street Zen raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. UBS Group upgraded Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Reinsurance Group of America in a research report on Friday, August 7th. Finally, Piper Sandler lowered their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $259.56.

Reinsurance Group of America Company Profile

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.