Concurrent Investment Advisors LLC Purchases 124 Shares of Reinsurance Group of America, Incorporated $RGA

Concurrent Investment Advisors LLC lifted its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 8.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,604 shares of the insurance provider’s stock after acquiring an additional 124 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Reinsurance Group of America were worth $318,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Alpine Bank Wealth Management bought a new stake in shares of Reinsurance Group of America in the 1st quarter worth $28,000. Golden State Wealth Management LLC grew its stake in shares of Reinsurance Group of America by 164.3% in the 1st quarter. Golden State Wealth Management LLC now owns 148 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 92 shares in the last quarter. TCTC Holdings LLC grew its stake in shares of Reinsurance Group of America by 107.2% in the 1st quarter. TCTC Holdings LLC now owns 172 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 89 shares in the last quarter. Cornerstone Planning Group LLC grew its stake in shares of Reinsurance Group of America by 224.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 175 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 121 shares in the last quarter. Finally, Headlands Technologies LLC grew its stake in shares of Reinsurance Group of America by 357.1% in the 1st quarter. Headlands Technologies LLC now owns 224 shares of the insurance provider’s stock worth $44,000 after acquiring an additional 175 shares in the last quarter. Institutional investors own 95.11% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Raymond James Financial lowered shares of Reinsurance Group of America from a “market perform” rating to an “underperform” rating in a research note on Friday. Barclays reissued an “overweight” rating and issued a $246.00 price target on shares of Reinsurance Group of America in a report on Wednesday, October 8th. Wells Fargo & Company cut their price target on shares of Reinsurance Group of America from $249.00 to $241.00 and set an “overweight” rating on the stock in a report on Monday, August 4th. Weiss Ratings reissued a “hold (c+)” rating on shares of Reinsurance Group of America in a report on Wednesday, October 8th. Finally, Piper Sandler reissued an “overweight” rating on shares of Reinsurance Group of America in a report on Tuesday, October 7th. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $241.56.

Reinsurance Group of America Price Performance

NYSE RGA opened at $187.77 on Monday. The company has a market cap of $12.41 billion, a PE ratio of 16.30 and a beta of 0.60. Reinsurance Group of America, Incorporated has a 52 week low of $159.25 and a 52 week high of $233.81. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.47. The firm’s 50-day simple moving average is $191.66 and its two-hundred day simple moving average is $193.09.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Thursday, July 31st. The insurance provider reported $4.72 EPS for the quarter, missing the consensus estimate of $5.58 by ($0.86). The business had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Reinsurance Group of America had a net margin of 3.54% and a return on equity of 12.56%. Reinsurance Group of America’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period last year, the company earned $5.48 earnings per share. Research analysts predict that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.0%. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Tuesday, August 12th. Reinsurance Group of America’s payout ratio is currently 32.29%.

Reinsurance Group of America Company 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.