Knights of Columbus Asset Advisors LLC Acquires 24,702 Shares of Reinsurance Group of America, Incorporated $RGA

Knights of Columbus Asset Advisors LLC bought a new position in Reinsurance Group of America, Incorporated (NYSE:RGA) in the third quarter, Holdings Channel reports. The firm bought 24,702 shares of the insurance provider’s stock, valued at approximately $6,083,000.

Other hedge funds have also recently made changes to their positions in the company. WCM Investment Management LLC lifted its position in shares of Reinsurance Group of America by 3.0% during the 1st quarter. WCM Investment Management LLC now owns 2,830,620 shares of the insurance provider’s stock valued at $566,803,000 after buying an additional 82,681 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Reinsurance Group of America by 1.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,114,998 shares of the insurance provider’s stock valued at $227,624,000 after purchasing an additional 15,372 shares during the last quarter. Sei Investments Co. lifted its holdings in Reinsurance Group of America by 1.0% during the first quarter. Sei Investments Co. now owns 837,391 shares of the insurance provider’s stock valued at $170,960,000 after purchasing an additional 8,221 shares during the last quarter. First Trust Advisors LP boosted its position in Reinsurance Group of America by 5.1% during the first quarter. First Trust Advisors LP now owns 479,000 shares of the insurance provider’s stock worth $97,793,000 after purchasing an additional 23,105 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Reinsurance Group of America by 0.6% during the first quarter. Bank of New York Mellon Corp now owns 417,970 shares of the insurance provider’s stock worth $85,333,000 after purchasing an additional 2,493 shares during the period. 95.11% of the stock is currently owned by institutional investors.

Reinsurance Group of America Stock Performance

NYSE:RGA opened at $273.72 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.14 and a current ratio of 0.16. Reinsurance Group of America, Incorporated has a 52-week low of $182.73 and a 52-week high of $275.70. The firm has a market cap of $17.81 billion, a price-to-earnings ratio of 10.58 and a beta of 0.43. The business’s fifty day moving average is $256.14 and its 200 day moving average is $227.08.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, November 5th. The insurance provider reported $8.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.97 by $1.52. Reinsurance Group of America had a return on equity of 16.18% and a net margin of 6.26%. The business had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $6.69 billion. During the same quarter in the prior year, the firm posted $6.37 EPS. Research analysts predict that Reinsurance Group of America, Incorporated will post 29.78 EPS for the current year.

Reinsurance Group of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, November 17th will be given a dividend of $0.98 per share. The ex-dividend date is Tuesday, November 17th. This represents a $3.92 annualized dividend and a dividend yield of 1.4%. Reinsurance Group of America’s dividend payout ratio is currently 15.15%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on RGA shares. Piper Sandler lifted their target price on shares of Reinsurance Group of America from $274.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday. Weiss Ratings reissued a “buy (b)” rating on shares of Reinsurance Group of America in a research report on Wednesday, November 4th. Wells Fargo & Company upped their price target on shares of Reinsurance Group of America from $291.00 to $292.00 and gave the company an “overweight” rating in a research note on Monday, October 12th. JPMorgan Chase & Co. raised their price objective on shares of Reinsurance Group of America from $293.00 to $297.00 and gave the stock an “overweight” rating in a report on Thursday, October 15th. Finally, TD Cowen raised their price objective on shares of Reinsurance Group of America from $235.00 to $250.00 and gave the stock a “hold” rating in a report on Wednesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $278.62.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated (RGA) is a global life and health reinsurer. It works with insurance companies to help them manage risks and support the development and distribution of insurance products. Its services include life and health reinsurance, as well as solutions involving longevity risk and asset-intensive reinsurance. RGA also provides underwriting expertise, data and analytics, and product and risk-management support to its clients. Founded in 1973, RGA serves clients across North America, Latin America, Europe, the Middle East and Africa, and Asia Pacific.