Private Trust Co. NA Has $36,000 Stock Position in Reinsurance Group of America, Incorporated $RGA

Private Trust Co. NA lowered its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 41.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 181 shares of the insurance provider’s stock after selling 130 shares during the quarter. Private Trust Co. NA’s holdings in Reinsurance Group of America were worth $36,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. WCM Investment Management LLC increased its position in shares of Reinsurance Group of America by 5.0% during the 2nd quarter. WCM Investment Management LLC now owns 2,639,979 shares of the insurance provider’s stock worth $521,343,000 after purchasing an additional 125,937 shares in the last quarter. American Century Companies Inc. increased its position in shares of Reinsurance Group of America by 67.9% during the 1st quarter. American Century Companies Inc. now owns 1,511,927 shares of the insurance provider’s stock worth $297,699,000 after purchasing an additional 611,226 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Reinsurance Group of America by 3.2% during the 1st quarter. Alliancebernstein L.P. now owns 1,158,803 shares of the insurance provider’s stock worth $228,168,000 after purchasing an additional 35,781 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Reinsurance Group of America by 17.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 928,998 shares of the insurance provider’s stock worth $182,909,000 after purchasing an additional 137,620 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Reinsurance Group of America by 2.6% during the 1st quarter. Northern Trust Corp now owns 716,782 shares of the insurance provider’s stock worth $141,134,000 after purchasing an additional 18,182 shares in the last quarter. Institutional investors and hedge funds own 95.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on RGA shares. JPMorgan Chase & Co. increased their target price on shares of Reinsurance Group of America from $237.00 to $264.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. Piper Sandler reissued an “overweight” rating on shares of Reinsurance Group of America in a report on Tuesday, October 7th. Morgan Stanley decreased their price objective on shares of Reinsurance Group of America from $210.00 to $195.00 and set an “equal weight” rating on the stock in a report on Monday, August 18th. Wells Fargo & Company decreased their price objective 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. Finally, Barclays reissued an “overweight” rating and set a $246.00 price objective on shares of Reinsurance Group of America in a report on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $241.56.

Reinsurance Group of America Stock Down 0.2%

Shares of NYSE RGA opened at $189.46 on Friday. The firm has a market capitalization of $12.52 billion, a PE ratio of 16.45 and a beta of 0.60. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.47. Reinsurance Group of America, Incorporated has a 1 year low of $159.25 and a 1 year high of $233.81. The firm’s 50-day moving average is $191.76 and its 200-day moving average is $193.44.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Thursday, July 31st. The insurance provider reported $4.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.58 by ($0.86). The business 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 firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period last year, the business posted $5.48 EPS. Equities analysts expect that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Reinsurance Group of America Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were paid a $0.93 dividend. 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. This represents a $3.72 annualized dividend and a dividend yield of 2.0%. Reinsurance Group of America’s payout ratio is 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.