Cerity Partners LLC Boosts Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Cerity Partners LLC lifted its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 725.1% in the 4th quarter, Holdings Channel reports. The fund owned 16,948 shares of the insurance provider’s stock after acquiring an additional 14,894 shares during the quarter. Cerity Partners LLC’s holdings in Reinsurance Group of America were worth $2,742,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in RGA. Moneta Group Investment Advisors LLC grew its holdings in Reinsurance Group of America by 129,207.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 12,117,433 shares of the insurance provider’s stock worth $1,721,766,000 after purchasing an additional 12,108,062 shares during the period. Norges Bank purchased a new stake in shares of Reinsurance Group of America in the 4th quarter worth approximately $96,942,000. Morgan Stanley grew its stake in shares of Reinsurance Group of America by 121.0% in the 4th quarter. Morgan Stanley now owns 930,151 shares of the insurance provider’s stock worth $132,165,000 after buying an additional 509,220 shares during the last quarter. Alliancebernstein L.P. increased its position in Reinsurance Group of America by 446.0% during the 3rd quarter. Alliancebernstein L.P. now owns 581,096 shares of the insurance provider’s stock valued at $73,108,000 after buying an additional 474,672 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its stake in Reinsurance Group of America by 966.7% during the third quarter. Adage Capital Partners GP L.L.C. now owns 320,000 shares of the insurance provider’s stock valued at $46,461,000 after buying an additional 290,000 shares during the last quarter. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Price Performance

Shares of NYSE:RGA opened at $182.40 on Friday. The company has a market capitalization of $12.00 billion, a P/E ratio of 13.58 and a beta of 0.89. Reinsurance Group of America, Incorporated has a 1-year low of $133.13 and a 1-year high of $196.25. The firm’s 50 day simple moving average is $181.96 and its two-hundred day simple moving average is $167.34. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.17 and a quick ratio of 0.17.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Friday, February 2nd. The insurance provider reported $4.73 earnings per share for the quarter, beating analysts’ consensus estimates of $4.40 by $0.33. Reinsurance Group of America had a net margin of 4.86% and a return on equity of 16.20%. The company had revenue of $5.01 billion for the quarter, compared to analysts’ expectations of $4.57 billion. During the same quarter in the previous year, the company earned $2.99 EPS. Reinsurance Group of America’s revenue for the quarter was up 14.9% on a year-over-year basis. Research analysts expect that Reinsurance Group of America, Incorporated will post 19.41 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, February 27th. Investors of record on Tuesday, February 13th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.86%. The ex-dividend date was Monday, February 12th. Reinsurance Group of America’s dividend payout ratio is currently 25.32%.

Analyst Ratings Changes

RGA has been the subject of several analyst reports. Keefe, Bruyette & Woods raised their price target on Reinsurance Group of America from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. JPMorgan Chase & Co. raised their price objective on shares of Reinsurance Group of America from $170.00 to $189.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Morgan Stanley upped their target price on shares of Reinsurance Group of America from $178.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Monday. Evercore ISI raised their price target on shares of Reinsurance Group of America from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Finally, Piper Sandler upped their price objective on Reinsurance Group of America from $195.00 to $220.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Reinsurance Group of America has an average rating of “Moderate Buy” and an average price target of $194.38.

Insider Activity at Reinsurance Group of America

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,588 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $171.83, for a total value of $272,866.04. Following the completion of the transaction, the executive vice president now directly owns 13,625 shares in the company, valued at approximately $2,341,183.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Todd C. Larson sold 2,966 shares of Reinsurance Group of America stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $182.88, for a total value of $542,422.08. Following the sale, the chief financial officer now directly owns 49,549 shares of the company’s stock, valued at $9,061,521.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William L. Hutton sold 1,588 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $171.83, for a total value of $272,866.04. Following the transaction, the executive vice president now directly owns 13,625 shares of the company’s stock, valued at $2,341,183.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,462 shares of company stock valued at $1,162,239. 1.31% of the stock is owned by company insiders.

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.