First Citizens Bank & Trust Co. Buys 4,515 Shares of Reinsurance Group of America, Incorporated $RGA

First Citizens Bank & Trust Co. grew its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 276.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,146 shares of the insurance provider’s stock after buying an additional 4,515 shares during the period. First Citizens Bank & Trust Co.’s holdings in Reinsurance Group of America were worth $1,219,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. American Century Companies Inc. grew its holdings in shares of Reinsurance Group of America by 67.9% during the first quarter. American Century Companies Inc. now owns 1,511,927 shares of the insurance provider’s stock worth $297,699,000 after purchasing an additional 611,226 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Reinsurance Group of America by 534.1% during the second quarter. Nordea Investment Management AB now owns 570,386 shares of the insurance provider’s stock worth $112,828,000 after purchasing an additional 480,435 shares in the last quarter. Nuveen LLC purchased a new position in shares of Reinsurance Group of America during the first quarter worth about $69,092,000. Bahl & Gaynor Inc. purchased a new position in shares of Reinsurance Group of America during the first quarter worth about $55,375,000. Finally, AQR Capital Management LLC grew its holdings in shares of Reinsurance Group of America by 66.5% during the first quarter. AQR Capital Management LLC now owns 616,946 shares of the insurance provider’s stock worth $119,687,000 after purchasing an additional 246,361 shares in the last quarter. 95.11% of the stock is currently owned by institutional investors.

Reinsurance Group of America Stock Down 0.2%

Shares of RGA opened at $189.46 on Friday. The business’s 50 day moving average is $191.76 and its 200 day moving average is $193.44. The company has a market capitalization of $12.52 billion, a PE ratio of 16.45 and a beta of 0.60. Reinsurance Group of America, Incorporated has a 12-month low of $159.25 and a 12-month high of $233.81. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.47.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Thursday, July 31st. The insurance provider reported $4.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.58 by ($0.86). Reinsurance Group of America had a return on equity of 12.56% and a net margin of 3.54%.The firm had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the previous year, the firm earned $5.48 EPS. The business’s revenue was up 14.8% compared to the same quarter last year. Research analysts expect that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Tuesday, August 12th. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.89. Reinsurance Group of America’s dividend payout ratio is presently 32.29%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on RGA shares. Piper Sandler reissued an “overweight” rating on shares of Reinsurance Group of America in a report on Tuesday, October 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of Reinsurance Group of America in a report on Wednesday, October 8th. Wells Fargo & Company cut their price objective on Reinsurance Group of America from $249.00 to $241.00 and set an “overweight” rating for the company in a report on Monday, August 4th. Morgan Stanley cut their price objective on Reinsurance Group of America from $210.00 to $195.00 and set an “equal weight” rating for the company in a report on Monday, August 18th. Finally, Raymond James Financial lowered Reinsurance Group of America from a “market perform” rating to an “underperform” rating in a research note on Friday, October 17th. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Reinsurance Group of America has a consensus rating of “Moderate Buy” and a consensus target price of $241.56.

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.