1,958 Shares in Reinsurance Group of America, Incorporated $RGA Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC acquired a new position in Reinsurance Group of America, Incorporated (NYSE:RGA) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,958 shares of the insurance provider’s stock, valued at approximately $388,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RGA. GAMMA Investing LLC increased its position in Reinsurance Group of America by 179.5% in the first quarter. GAMMA Investing LLC now owns 2,412 shares of the insurance provider’s stock worth $475,000 after purchasing an additional 1,549 shares during the period. SG Americas Securities LLC acquired a new position in shares of Reinsurance Group of America during the 1st quarter worth about $415,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Reinsurance Group of America by 38.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,783 shares of the insurance provider’s stock worth $1,729,000 after buying an additional 2,428 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in shares of Reinsurance Group of America by 13.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,901 shares of the insurance provider’s stock worth $768,000 after buying an additional 452 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its position in shares of Reinsurance Group of America by 1.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 31,618 shares of the insurance provider’s stock worth $6,226,000 after buying an additional 404 shares during the period. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Barclays restated an “overweight” rating and set a $246.00 target price on shares of Reinsurance Group of America in a research report on Wednesday, October 8th. Piper Sandler restated an “overweight” rating on shares of Reinsurance Group of America in a research report on Tuesday, October 7th. Morgan Stanley decreased their price objective on Reinsurance Group of America from $210.00 to $195.00 and set an “equal weight” rating for the company in a research report on Monday, August 18th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Reinsurance Group of America in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company decreased their price objective on Reinsurance Group of America from $249.00 to $241.00 and set an “overweight” rating for the company in a research report on Monday, August 4th. Seven investment 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $241.56.

Reinsurance Group of America Trading Up 0.5%

NYSE RGA opened at $189.34 on Wednesday. The stock has a market capitalization of $12.51 billion, a price-to-earnings ratio of 16.44 and a beta of 0.60. The stock’s 50 day moving average price is $191.76 and its two-hundred day moving average price is $193.18. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.16 and a current ratio of 0.16. Reinsurance Group of America, Incorporated has a 52 week low of $159.25 and a 52 week high of $233.81.

Reinsurance Group of America (NYSE:RGA) last released its earnings results 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 firm had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.70 billion. Reinsurance Group of America had a net margin of 3.54% and a return on equity of 12.56%. The company’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.48 EPS. As a group, analysts anticipate that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were paid a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.0%. The ex-dividend date was Tuesday, August 12th. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.89. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 32.29%.

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.