International Assets Investment Management LLC Grows Stock Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

International Assets Investment Management LLC increased its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 23,595.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,463 shares of the insurance provider’s stock after buying an additional 32,326 shares during the period. International Assets Investment Management LLC’s holdings in Reinsurance Group of America were worth $7,073,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. acquired a new position in Reinsurance Group of America during the third quarter worth $25,000. New Covenant Trust Company N.A. acquired a new stake in Reinsurance Group of America during the first quarter worth about $28,000. Family Firm Inc. acquired a new stake in Reinsurance Group of America during the second quarter worth about $29,000. LRI Investments LLC acquired a new stake in Reinsurance Group of America during the first quarter worth about $33,000. Finally, Wolff Wiese Magana LLC acquired a new stake in Reinsurance Group of America during the third quarter worth about $34,000. 95.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RGA has been the subject of several recent analyst reports. Royal Bank of Canada raised their price objective on shares of Reinsurance Group of America from $225.00 to $235.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. TD Cowen assumed coverage on shares of Reinsurance Group of America in a research note on Wednesday, October 9th. They set a “hold” rating and a $235.00 target price for the company. Raymond James raised their price objective on shares of 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. StockNews.com raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Finally, Keefe, Bruyette & Woods raised shares of Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $226.62.

Insiders Place Their Bets

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the firm’s 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 sale, the executive vice president now owns 12,357 shares of the company’s stock, valued at approximately $2,705,812.29. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.37% of the stock is owned by corporate insiders.

Reinsurance Group of America Stock Down 1.9 %

Shares of NYSE:RGA opened at $210.89 on Friday. The firm’s 50 day moving average price is $215.65 and its 200 day moving average price is $208.79. The stock has a market cap of $13.89 billion, a price-to-earnings ratio of 16.41 and a beta of 0.91. Reinsurance Group of America, Incorporated has a fifty-two week low of $146.16 and a fifty-two week high of $227.87. 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 released its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 earnings per share for the quarter, topping 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 company had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same quarter last year, the company earned $4.40 earnings per share. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. As a group, equities research analysts predict that Reinsurance Group of America, Incorporated will post 21.8 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 1.69%. Reinsurance Group of America’s payout ratio is currently 27.70%.

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.