Insight Wealth Strategies LLC Acquires Shares of 16,285 Reinsurance Group of America, Incorporated (NYSE:RGA)

Insight Wealth Strategies LLC acquired a new stake in Reinsurance Group of America, Incorporated (NYSE:RGA) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 16,285 shares of the insurance provider’s stock, valued at approximately $3,548,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its position in Reinsurance Group of America by 8.9% in the 3rd quarter. GAMMA Investing LLC now owns 609 shares of the insurance provider’s stock valued at $133,000 after acquiring an additional 50 shares in the last quarter. Park Avenue Securities LLC increased its position in Reinsurance Group of America by 9.3% in the 3rd quarter. Park Avenue Securities LLC now owns 12,985 shares of the insurance provider’s stock valued at $2,829,000 after acquiring an additional 1,101 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Reinsurance Group of America in the 2nd quarter valued at about $1,925,000. Maven Securities LTD acquired a new stake in Reinsurance Group of America in the 2nd quarter valued at about $205,000. Finally, Cetera Investment Advisers increased its position in Reinsurance Group of America by 10.4% in the 2nd quarter. Cetera Investment Advisers now owns 17,763 shares of the insurance provider’s stock valued at $3,646,000 after acquiring an additional 1,672 shares in the last quarter. Institutional investors and hedge funds own 95.11% of the company’s stock.

Reinsurance Group of America Trading Up 1.8 %

Reinsurance Group of America stock traded up $3.82 during midday trading on Tuesday, hitting $215.28. 8,181 shares of the stock were exchanged, compared to its average volume of 357,205. The company has a fifty day simple moving average of $213.21 and a two-hundred day simple moving average of $205.91. Reinsurance Group of America, Incorporated has a 52 week low of $143.89 and a 52 week high of $227.87. The stock has a market capitalization of $14.16 billion, a PE ratio of 16.44 and a beta of 0.91. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.52.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share for the quarter, beating analysts’ consensus estimates of $4.94 by $0.54. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The firm had revenue of $4.88 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same quarter in the previous year, the firm posted $4.40 earnings per share. The business’s revenue was up 17.4% on a year-over-year basis. Equities research analysts anticipate that Reinsurance Group of America, Incorporated will post 21.7 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were paid a $0.89 dividend. The ex-dividend date was Friday, August 9th. This represents a $3.56 dividend on an annualized basis and a yield of 1.65%. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.85. Reinsurance Group of America’s payout ratio is presently 27.66%.

Insider Buying and Selling at Reinsurance Group of America

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of Reinsurance Group of America stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $218.97, for a total value of $264,734.73. Following the transaction, the executive vice president now owns 12,357 shares of the company’s stock, valued at approximately $2,705,812.29. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on RGA shares. Evercore ISI raised their target price on shares of Reinsurance Group of America from $225.00 to $241.00 and gave the company an “outperform” rating in a research note on Wednesday, June 26th. Royal Bank of Canada raised their target price on shares of Reinsurance Group of America from $225.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Wells Fargo & Company raised their target price on shares of Reinsurance Group of America from $236.00 to $239.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. raised their target price on shares of Reinsurance Group of America from $220.00 to $222.00 and gave the company a “neutral” rating in a research note on Thursday, October 3rd. Finally, StockNews.com raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Friday, September 27th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $225.92.

About Reinsurance Group of America

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.