Bridgewater Associates LP Acquires 10,411 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Bridgewater Associates LP raised its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 51.5% in the third quarter, Holdings Channel reports. The fund owned 30,638 shares of the insurance provider’s stock after purchasing an additional 10,411 shares during the quarter. Bridgewater Associates LP’s holdings in Reinsurance Group of America were worth $6,675,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in RGA. Price T Rowe Associates Inc. MD lifted its stake in Reinsurance Group of America by 22.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 143,178 shares of the insurance provider’s stock valued at $27,617,000 after purchasing an additional 26,306 shares during the last quarter. Eagle Asset Management Inc. lifted its stake in shares of Reinsurance Group of America by 15.7% in the 3rd quarter. Eagle Asset Management Inc. now owns 112,901 shares of the insurance provider’s stock valued at $25,297,000 after acquiring an additional 15,289 shares during the last quarter. M&G Plc boosted its holdings in shares of Reinsurance Group of America by 5.0% during the 2nd quarter. M&G Plc now owns 85,153 shares of the insurance provider’s stock valued at $17,456,000 after acquiring an additional 4,025 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in Reinsurance Group of America during the 2nd quarter worth $1,925,000. Finally, Insight Wealth Strategies LLC acquired a new position in Reinsurance Group of America in the 3rd quarter worth about $3,548,000. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RGA. Royal Bank of Canada lifted their price target on Reinsurance Group of America from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Piper Sandler lifted their target price on shares of Reinsurance Group of America from $237.00 to $242.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. StockNews.com upgraded shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Keefe, Bruyette & Woods upgraded shares of Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Reinsurance Group of America from $220.00 to $222.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Reinsurance Group of America presently has an average rating of “Moderate Buy” and a consensus target price of $227.77.

Reinsurance Group of America Stock Down 0.4 %

Shares of NYSE:RGA opened at $228.45 on Friday. Reinsurance Group of America, Incorporated has a 1 year low of $157.48 and a 1 year high of $233.81. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.17 and a quick ratio of 0.17. The business’s 50-day moving average is $220.25 and its 200-day moving average is $213.68. The company has a market capitalization of $15.05 billion, a price-to-earnings ratio of 20.98 and a beta of 0.92.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.31 by $0.82. The firm had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.29 billion. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business earned $5.57 EPS. Equities research analysts predict that Reinsurance Group of America, Incorporated will post 21.93 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were paid a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Friday, November 8th. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 32.69%.

Insider Activity

In other news, EVP William L. Hutton sold 1,209 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total transaction of $264,734.73. Following the completion of the sale, the executive vice president now owns 12,357 shares in the company, valued at $2,705,812.29. The trade was a 8.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.37% of the company’s stock.

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.