Citigroup Inc. Has $17.26 Million Stake in Reinsurance Group of America, Incorporated (NYSE:RGA)

Citigroup Inc. increased its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 32.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,230 shares of the insurance provider’s stock after purchasing an additional 19,359 shares during the period. Citigroup Inc. owned approximately 0.12% of Reinsurance Group of America worth $17,262,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Eagle Asset Management Inc. raised its holdings 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 worth $25,297,000 after acquiring an additional 15,289 shares during the last quarter. Banco Santander S.A. grew its stake in shares of Reinsurance Group of America by 0.8% in the 3rd quarter. Banco Santander S.A. now owns 55,943 shares of the insurance provider’s stock worth $12,188,000 after acquiring an additional 428 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Reinsurance Group of America by 105.3% in the third quarter. First Horizon Advisors Inc. now owns 312 shares of the insurance provider’s stock valued at $68,000 after purchasing an additional 160 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Reinsurance Group of America in the 3rd quarter worth approximately $11,803,000. Finally, Tranquility Partners LLC bought a new position in shares of Reinsurance Group of America in the third quarter valued at approximately $200,000. 95.11% of the stock is owned by institutional investors.

Reinsurance Group of America Stock Performance

NYSE RGA opened at $229.46 on Thursday. The company’s 50 day simple moving average is $219.86 and its two-hundred day simple moving average is $213.42. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.17 and a quick ratio of 0.17. Reinsurance Group of America, Incorporated has a 1 year low of $157.48 and a 1 year high of $233.81. The stock has a market capitalization of $15.11 billion, a PE ratio of 21.07 and a beta of 0.92.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data 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. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.29 billion. During the same quarter last year, the business posted $5.57 earnings per share. The firm’s revenue was up 9.7% compared to the same quarter last year. Analysts predict that Reinsurance Group of America, Incorporated will post 21.93 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Friday, November 8th. Reinsurance Group of America’s payout ratio is 32.69%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Piper Sandler raised their target price on Reinsurance Group of America from $237.00 to $242.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Raymond James boosted their target price on Reinsurance Group of America from $228.00 to $250.00 and gave the company a “strong-buy” rating in a research note on Tuesday, September 24th. Wells Fargo & Company increased their price target on Reinsurance Group of America from $239.00 to $244.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. StockNews.com upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Finally, Morgan Stanley cut their target price on shares of Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Reinsurance Group of America presently has an average rating of “Moderate Buy” and an average price target of $227.77.

Insider Buying and Selling

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $218.97, for a total value of $264,734.73. Following the completion of the transaction, the executive vice president now owns 12,357 shares of the company’s stock, valued at $2,705,812.29. The trade was a 8.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.37% of the stock is owned by company insiders.

Reinsurance Group of America 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.