Reinsurance Group of America, Incorporated (NYSE:RGA) Shares Bought by MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income

MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income grew its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGAGet Rating) by 35.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,330 shares of the insurance provider’s stock after purchasing an additional 28,655 shares during the period. Reinsurance Group of America makes up about 1.3% of MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income’s holdings, making the stock its 24th largest holding. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income owned about 0.16% of Reinsurance Group of America worth $12,077,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Earnest Partners LLC raised its stake in Reinsurance Group of America by 39.2% in the fourth quarter. Earnest Partners LLC now owns 2,082,894 shares of the insurance provider’s stock valued at $228,056,000 after buying an additional 586,198 shares in the last quarter. Ceredex Value Advisors LLC purchased a new position in shares of Reinsurance Group of America during the fourth quarter worth about $39,995,000. American Century Companies Inc. grew its holdings in shares of Reinsurance Group of America by 11.1% during the fourth quarter. American Century Companies Inc. now owns 3,605,344 shares of the insurance provider’s stock worth $394,749,000 after buying an additional 359,665 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Reinsurance Group of America by 191.4% in the 1st quarter. Russell Investments Group Ltd. now owns 465,153 shares of the insurance provider’s stock valued at $50,912,000 after purchasing an additional 305,551 shares in the last quarter. Finally, Schroder Investment Management Group boosted its holdings in Reinsurance Group of America by 24.7% in the 4th quarter. Schroder Investment Management Group now owns 893,928 shares of the insurance provider’s stock valued at $97,877,000 after purchasing an additional 176,922 shares in the last quarter. 96.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Reinsurance Group of America

In related news, Director Christine Rose Detrick sold 4,300 shares of the stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $113.34, for a total transaction of $487,362.00. Following the completion of the sale, the director now directly owns 1,618 shares of the company’s stock, valued at $183,384.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RGA. Piper Sandler lifted their price objective on Reinsurance Group of America from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, May 27th. StockNews.com downgraded shares of Reinsurance Group of America from a “buy” rating to a “hold” rating in a research report on Saturday, May 14th. Morgan Stanley reduced their price target on shares of Reinsurance Group of America from $132.00 to $131.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 6th. Citigroup started coverage on shares of Reinsurance Group of America in a research report on Monday, May 23rd. They set a “sell” rating and a $110.00 price target for the company. Finally, TheStreet downgraded shares of Reinsurance Group of America from a “b-” rating to a “c” rating in a research report on Thursday, May 5th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $127.09.

Reinsurance Group of America Stock Performance

RGA traded up $9.86 on Friday, hitting $123.42. 650,654 shares of the company’s stock were exchanged, compared to its average volume of 296,550. The firm has a market cap of $8.27 billion, a PE ratio of 31.09 and a beta of 1.00. Reinsurance Group of America, Incorporated has a twelve month low of $94.32 and a twelve month high of $127.22. The stock has a fifty day moving average of $117.50 and a two-hundred day moving average of $113.77. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.40.

Reinsurance Group of America (NYSE:RGAGet Rating) last posted its earnings results on Thursday, August 4th. The insurance provider reported $5.78 EPS for the quarter, topping the consensus estimate of $2.70 by $3.08. Reinsurance Group of America had a net margin of 1.66% and a return on equity of 2.64%. During the same period in the previous year, the business posted $4.00 earnings per share. On average, research analysts anticipate that Reinsurance Group of America, Incorporated will post 9.7 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 30th. Stockholders of record on Tuesday, August 16th will be issued a $0.80 dividend. The ex-dividend date is Monday, August 15th. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.73. This represents a $3.20 annualized dividend and a dividend yield of 2.59%. Reinsurance Group of America’s dividend payout ratio (DPR) is 73.55%.

Reinsurance Group of America Company Profile

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Reinsurance Group of America, Incorporated engages in reinsurance business. It 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.

See Also

Institutional Ownership by Quarter for Reinsurance Group of America (NYSE:RGA)

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