Hillsdale Investment Management Inc. Takes $4.25 Million Position in Reinsurance Group of America, Incorporated $RGA

Hillsdale Investment Management Inc. bought a new stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 20,800 shares of the insurance provider’s stock, valued at approximately $4,247,000.

Other large investors have also added to or reduced their stakes in the company. Activest Wealth Management bought a new stake in Reinsurance Group of America in the fourth quarter worth approximately $30,000. Tobam grew its position in shares of Reinsurance Group of America by 244.7% during the 4th quarter. Tobam now owns 162 shares of the insurance provider’s stock worth $33,000 after buying an additional 115 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Reinsurance Group of America during the 4th quarter worth approximately $35,000. Entrust Financial LLC bought a new stake in shares of Reinsurance Group of America in the 4th quarter valued at $40,000. Finally, Advisory Services Network LLC bought a new stake in shares of Reinsurance Group of America in the 3rd quarter valued at $38,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

Insider Transactions at Reinsurance Group of America

In related news, EVP Ronald Herrmann sold 7,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $210.58, for a total value of $1,474,060.00. Following the sale, the executive vice president owned 3,938 shares in the company, valued at $829,264.04. This represents a 64.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John W. Hayden sold 414 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $214.95, for a total transaction of $88,989.30. Following the completion of the transaction, the executive vice president directly owned 20,949 shares in the company, valued at approximately $4,502,987.55. The trade was a 1.94% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.60% of the company’s stock.

Reinsurance Group of America Stock Performance

NYSE RGA opened at $233.94 on Wednesday. The company has a market cap of $15.33 billion, a P/E ratio of 12.67 and a beta of 0.47. The company has a fifty day simple moving average of $212.43 and a 200 day simple moving average of $208.99. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46. Reinsurance Group of America, Incorporated has a 12-month low of $165.52 and a 12-month high of $238.91.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Thursday, May 7th. The insurance provider reported $6.97 earnings per share for the quarter, topping the consensus estimate of $6.03 by $0.94. Reinsurance Group of America had a net margin of 4.92% and a return on equity of 13.16%. The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.47 billion. During the same quarter in the prior year, the company posted $5.66 earnings per share. The business’s revenue was up 23.5% on a year-over-year basis. Sell-side analysts predict that Reinsurance Group of America, Incorporated will post 26.86 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 19th were given a dividend of $0.93 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $3.72 annualized dividend and a dividend yield of 1.6%. Reinsurance Group of America’s payout ratio is presently 20.15%.

Analyst Ratings Changes

Several research analysts recently issued reports on RGA shares. Evercore reissued an “outperform” rating and set a $267.00 target price on shares of Reinsurance Group of America in a research note on Monday, May 18th. UBS Group raised their price target on shares of Reinsurance Group of America from $220.00 to $236.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Piper Sandler decreased their price target on shares of Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Wells Fargo & Company upped their price objective on shares of Reinsurance Group of America from $261.00 to $269.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Finally, Wall Street Zen raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $255.50.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.