Pinebridge Investments L.P. Has $1.15 Million Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Pinebridge Investments L.P. increased its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGAFree Report) by 10.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,122 shares of the insurance provider’s stock after buying an additional 667 shares during the period. Pinebridge Investments L.P.’s holdings in Reinsurance Group of America were worth $1,152,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Toth Financial Advisory Corp increased its stake in shares of Reinsurance Group of America by 41.2% during the 4th quarter. Toth Financial Advisory Corp now owns 240 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 70 shares during the last quarter. Tectonic Advisors LLC raised its stake in Reinsurance Group of America by 4.3% in the fourth quarter. Tectonic Advisors LLC now owns 1,979 shares of the insurance provider’s stock valued at $320,000 after buying an additional 82 shares during the period. Lindbrook Capital LLC raised its stake in Reinsurance Group of America by 129.9% in the fourth quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock valued at $25,000 after buying an additional 87 shares during the period. Private Advisor Group LLC lifted its position in shares of Reinsurance Group of America by 2.2% in the fourth quarter. Private Advisor Group LLC now owns 4,246 shares of the insurance provider’s stock valued at $687,000 after buying an additional 92 shares during the last quarter. Finally, Aspire Private Capital LLC boosted its stake in shares of Reinsurance Group of America by 4.7% during the 4th quarter. Aspire Private Capital LLC now owns 2,351 shares of the insurance provider’s stock worth $380,000 after acquiring an additional 105 shares during the period. 95.11% of the stock is owned by institutional investors.

Insider Activity at Reinsurance Group of America

In other Reinsurance Group of America news, EVP John W. Hayden sold 1,767 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $206.85, for a total value of $365,503.95. Following the sale, the executive vice president now owns 16,490 shares of the company’s stock, valued at approximately $3,410,956.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.37% of the stock is currently owned by insiders.

Reinsurance Group of America Price Performance

Reinsurance Group of America stock opened at $204.13 on Friday. The firm has a market cap of $13.43 billion, a PE ratio of 15.86 and a beta of 0.92. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.19 and a quick ratio of 0.19. The stock’s fifty day moving average price is $198.43 and its two-hundred day moving average price is $180.48. Reinsurance Group of America, Incorporated has a one year low of $135.07 and a one year high of $213.21.

Reinsurance Group of America (NYSE:RGAGet Free Report) last issued its quarterly earnings results on Friday, May 3rd. The insurance provider reported $6.02 EPS for the quarter, topping analysts’ consensus estimates of $4.55 by $1.47. Reinsurance Group of America had a return on equity of 15.94% and a net margin of 4.16%. The company had revenue of $6.34 billion for the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter last year, the business earned $5.16 earnings per share. As a group, research analysts expect that Reinsurance Group of America, Incorporated will post 20.66 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Monday, May 13th. This represents a $3.40 annualized dividend and a dividend yield of 1.67%. Reinsurance Group of America’s dividend payout ratio is 26.42%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RGA. Piper Sandler raised their price target on Reinsurance Group of America from $195.00 to $220.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $212.00 target price on shares of Reinsurance Group of America in a report on Friday, April 12th. JPMorgan Chase & Co. upped their price target on shares of Reinsurance Group of America from $189.00 to $195.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Wells Fargo & Company raised their price objective on shares of Reinsurance Group of America from $210.00 to $227.00 and gave the stock an “overweight” rating in a research report on Friday, May 10th. Finally, Keefe, Bruyette & Woods upped their target price on Reinsurance Group of America from $220.00 to $235.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Reinsurance Group of America currently has an average rating of “Moderate Buy” and an average price target of $202.82.

Check Out Our Latest Stock Analysis on Reinsurance Group of America

Reinsurance Group of America Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Reinsurance Group of America (NYSE:RGA)

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