Algert Global LLC Increases Stake in Reinsurance Group of America, Incorporated $RGA

Algert Global LLC grew its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 200.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,010 shares of the insurance provider’s stock after acquiring an additional 48,030 shares during the period. Algert Global LLC owned about 0.11% of Reinsurance Group of America worth $13,835,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in RGA. Millstone Evans Group LLC boosted its holdings in Reinsurance Group of America by 82.4% in the 3rd quarter. Millstone Evans Group LLC now owns 135 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 61 shares in the last quarter. Root Financial Partners LLC purchased a new stake in shares of Reinsurance Group of America in the third quarter valued at approximately $33,000. LRI Investments LLC grew its holdings in Reinsurance Group of America by 41.2% during the third quarter. LRI Investments LLC now owns 264 shares of the insurance provider’s stock worth $51,000 after acquiring an additional 77 shares during the period. Employees Retirement System of Texas acquired a new position in Reinsurance Group of America during the second quarter worth $57,000. Finally, Avalon Trust Co purchased a new position in Reinsurance Group of America in the third quarter worth $58,000. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Reinsurance Group of America Stock Down 1.7%

Shares of NYSE RGA opened at $201.59 on Monday. The firm’s 50-day moving average is $207.98 and its two-hundred day moving average is $198.37. The company has a market capitalization of $13.22 billion, a PE ratio of 11.36 and a beta of 0.50. Reinsurance Group of America, Incorporated has a 12-month low of $159.25 and a 12-month high of $229.21. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.14 and a quick ratio of 0.14.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, February 5th. The insurance provider reported $7.75 earnings per share for the quarter, topping analysts’ consensus estimates of $5.86 by $1.89. Reinsurance Group of America had a net margin of 4.99% and a return on equity of 12.99%. The business had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.25 billion. During the same period last year, the company posted $4.99 EPS. The company’s revenue was up 26.6% on a year-over-year basis. Equities analysts anticipate that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 3rd. Stockholders of record on Tuesday, February 17th were issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, February 17th. Reinsurance Group of America’s payout ratio is 20.96%.

Analysts Set New Price Targets

RGA has been the topic of several research analyst reports. Wells Fargo & Company boosted their target price on shares of Reinsurance Group of America from $238.00 to $261.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. TD Cowen reissued a “hold” rating on shares of Reinsurance Group of America in a report on Wednesday, January 28th. Barclays set a $245.00 target price on shares of Reinsurance Group of America and gave the stock an “overweight” rating in a research report on Friday, February 6th. Wall Street Zen upgraded shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Finally, Piper Sandler reissued an “overweight” rating and set a $263.00 price target on shares of Reinsurance Group of America in a research note on Friday, February 6th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.57.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.