HighTower Advisors LLC Acquires 6,101 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

HighTower Advisors LLC raised its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 13.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 51,855 shares of the insurance provider’s stock after acquiring an additional 6,101 shares during the period. HighTower Advisors LLC’s holdings in Reinsurance Group of America were worth $11,266,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in RGA. Hilltop Holdings Inc. bought a new stake in Reinsurance Group of America in the 3rd quarter valued at $228,000. Benjamin Edwards Inc. acquired a new stake in shares of Reinsurance Group of America in the 3rd quarter valued at about $427,000. Kolinsky Wealth Management LLC bought a new stake in shares of Reinsurance Group of America in the third quarter valued at about $200,000. Point72 Europe London LLP boosted its position in shares of Reinsurance Group of America by 15.0% during the third quarter. Point72 Europe London LLP now owns 60,865 shares of the insurance provider’s stock worth $13,261,000 after buying an additional 7,951 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new stake in Reinsurance Group of America in the 3rd quarter valued at approximately $5,416,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

Insider Buying and Selling

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total transaction of $264,734.73. Following the transaction, the executive vice president now owns 12,357 shares in the company, valued at $2,705,812.29. This trade represents 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 currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Wells Fargo & Company upped their price target on Reinsurance Group of America from $239.00 to $244.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Raymond James increased their target price on shares of Reinsurance Group of America from $228.00 to $250.00 and gave the stock a “strong-buy” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. lifted their price target on shares of Reinsurance Group of America from $220.00 to $222.00 and gave the company a “neutral” rating in a research note on Thursday, October 3rd. Morgan Stanley reduced their price objective 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 note on Monday, August 19th. Finally, Keefe, Bruyette & Woods raised Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $227.77.

Reinsurance Group of America Trading Down 0.6 %

Shares of Reinsurance Group of America stock opened at $220.30 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.17 and a quick ratio of 0.17. The business has a fifty day simple moving average of $220.76 and a two-hundred day simple moving average of $214.20. Reinsurance Group of America, Incorporated has a 1 year low of $157.48 and a 1 year high of $233.81. The company has a market capitalization of $14.51 billion, a price-to-earnings ratio of 20.23 and a beta of 0.93.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Thursday, October 31st. The insurance provider reported $6.13 EPS for the quarter, topping the consensus estimate of $5.31 by $0.82. The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.29 billion. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%. Reinsurance Group of America’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.57 EPS. Research analysts forecast that Reinsurance Group of America, Incorporated will post 21.67 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were paid a dividend of $0.89 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.62%. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 32.69%.

About Reinsurance Group of America

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.