Citigroup Inc. Boosts Stock Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Citigroup Inc. lifted its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 32.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 79,230 shares of the insurance provider’s stock after buying an additional 19,359 shares during the period. Citigroup Inc.’s holdings in Reinsurance Group of America were worth $17,262,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Armstrong Advisory Group Inc. purchased a new position in shares of Reinsurance Group of America during the third quarter worth approximately $25,000. New Covenant Trust Company N.A. purchased a new position in Reinsurance Group of America in the 1st quarter worth $28,000. International Assets Investment Management LLC bought a new stake in Reinsurance Group of America in the second quarter worth $28,000. Family Firm Inc. purchased a new stake in Reinsurance Group of America during the second quarter valued at about $29,000. Finally, LRI Investments LLC bought a new position in shares of Reinsurance Group of America during the first quarter valued at about $33,000. Institutional investors own 95.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RGA. Raymond James boosted their target price on Reinsurance Group of America from $228.00 to $250.00 and gave the company a “strong-buy” rating in a research note on Tuesday, September 24th. Morgan Stanley dropped their price objective on Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Wells Fargo & Company lifted their target price on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. TD Cowen started coverage on shares of Reinsurance Group of America in a research report on Wednesday, October 9th. They set a “hold” rating and a $235.00 price target for the company. Finally, StockNews.com raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy 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 price target of $227.77.

Insider Buying and Selling

In other 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 transaction of $264,734.73. Following the completion of the transaction, the executive vice president now directly owns 12,357 shares in the company, valued at approximately $2,705,812.29. This trade represents a 8.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.37% of the stock is owned by company insiders.

Reinsurance Group of America Stock Performance

Shares of RGA opened at $229.46 on Thursday. The company has a 50-day simple moving average of $219.86 and a two-hundred day simple moving average of $213.42. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.17 and a quick ratio of 0.17. The firm has a market capitalization of $15.11 billion, a PE ratio of 21.07 and a beta of 0.92. Reinsurance Group of America, Incorporated has a one year low of $157.48 and a one year high of $233.81.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Thursday, October 31st. The insurance provider reported $6.13 EPS for the quarter, beating analysts’ consensus estimates of $5.31 by $0.82. The company had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.29 billion. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the business posted $5.57 EPS. On average, analysts anticipate that Reinsurance Group of America, Incorporated will post 21.93 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend was Friday, November 8th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 32.69%.

Reinsurance Group of America Profile

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.