Geode Capital Management LLC Buys 53,211 Shares of Reinsurance Group of America, Incorporated $RGA

Geode Capital Management LLC increased its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 4.6% in the second quarter, HoldingsChannel reports. The firm owned 1,219,609 shares of the insurance provider’s stock after purchasing an additional 53,211 shares during the period. Geode Capital Management LLC’s holdings in Reinsurance Group of America were worth $241,960,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. TCTC Holdings LLC increased its holdings in shares of Reinsurance Group of America by 107.2% during the first quarter. TCTC Holdings LLC now owns 172 shares of the insurance provider’s stock worth $34,000 after buying an additional 89 shares in the last quarter. Headlands Technologies LLC boosted its holdings in shares of Reinsurance Group of America by 357.1% in the 1st quarter. Headlands Technologies LLC now owns 224 shares of the insurance provider’s stock worth $44,000 after acquiring an additional 175 shares in the last quarter. SouthState Corp bought a new stake in Reinsurance Group of America during the 1st quarter worth approximately $48,000. Oakworth Capital Inc. increased its holdings in Reinsurance Group of America by 32.4% during the 2nd quarter. Oakworth Capital Inc. now owns 245 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 60 shares in the last quarter. Finally, IFP Advisors Inc raised its position in Reinsurance Group of America by 93.9% in the 2nd quarter. IFP Advisors Inc now owns 285 shares of the insurance provider’s stock valued at $57,000 after purchasing an additional 138 shares during the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Reinsurance Group of America Trading Down 0.8%

RGA opened at $188.94 on Monday. The firm has a 50 day simple moving average of $190.18 and a 200 day simple moving average of $194.11. Reinsurance Group of America, Incorporated has a fifty-two week low of $159.25 and a fifty-two week high of $233.81. The company has a market cap of $12.42 billion, a price-to-earnings ratio of 16.40 and a beta of 0.62. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.16 and a quick ratio of 0.16.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings data on Thursday, October 30th. The insurance provider reported $6.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.80 by $0.57. The firm had revenue of $6.20 billion for the quarter, compared to analysts’ expectations of $6.02 billion. Reinsurance Group of America had a net margin of 3.54% and a return on equity of 12.56%. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the firm earned $6.13 earnings per share. On average, sell-side analysts anticipate that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Tuesday, November 11th will be paid a dividend of $0.93 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.0%. Reinsurance Group of America’s payout ratio is 28.62%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Morgan Stanley decreased their target price on 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. Piper Sandler reiterated an “overweight” rating on shares of Reinsurance Group of America in a research report on Tuesday, October 7th. Weiss Ratings restated a “hold (c+)” rating on shares of Reinsurance Group of America in a research report on Wednesday, October 8th. Barclays reiterated an “overweight” rating and set a $246.00 target price on shares of Reinsurance Group of America in a research report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Reinsurance Group of America from $255.00 to $240.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Seven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $239.89.

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.