Northwestern Mutual Wealth Management Co. Acquires 50,395 Shares of Reinsurance Group of America, Incorporated $RGA

Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 8,703.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 50,974 shares of the insurance provider’s stock after purchasing an additional 50,395 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Reinsurance Group of America were worth $10,371,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Cornerstone Wealth Management LLC lifted its holdings in Reinsurance Group of America by 5.7% during the fourth quarter. Cornerstone Wealth Management LLC now owns 1,204 shares of the insurance provider’s stock worth $245,000 after acquiring an additional 65 shares in the last quarter. Pinnacle Associates Ltd. acquired a new stake in shares of Reinsurance Group of America in the 4th quarter valued at about $316,000. Baader Bank Aktiengesellschaft acquired a new stake in shares of Reinsurance Group of America in the 4th quarter valued at about $560,000. Legacy Financial Advisors Inc. raised its stake in shares of Reinsurance Group of America by 15.5% in the 4th quarter. Legacy Financial Advisors Inc. now owns 4,277 shares of the insurance provider’s stock valued at $870,000 after purchasing an additional 575 shares during the period. Finally, Crossmark Global Holdings Inc. raised its stake in shares of Reinsurance Group of America by 11.7% in the 4th quarter. Crossmark Global Holdings Inc. now owns 1,405 shares of the insurance provider’s stock valued at $286,000 after purchasing an additional 147 shares during the period. 95.11% of the stock is currently owned by institutional investors.

Reinsurance Group of America Price Performance

NYSE:RGA opened at $215.25 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.14 and a current ratio of 0.14. The stock’s 50-day simple moving average is $207.52 and its 200 day simple moving average is $203.79. The company has a market cap of $14.10 billion, a P/E ratio of 11.66 and a beta of 0.50. Reinsurance Group of America, Incorporated has a 52-week low of $165.52 and a 52-week high of $229.21.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Thursday, May 7th. The insurance provider reported $6.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.03 by $0.94. The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.47 billion. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.Reinsurance Group of America’s quarterly revenue was up 23.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.66 earnings per share. As a group, sell-side analysts forecast that Reinsurance Group of America, Incorporated will post 26.54 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th will be given a $0.93 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.7%. Reinsurance Group of America’s payout ratio is currently 20.15%.

Wall Street Analyst Weigh In

Several research firms have issued reports on RGA. Weiss Ratings reissued a “buy (b)” rating on shares of Reinsurance Group of America in a research note on Wednesday, May 13th. Wells Fargo & Company lifted their price target on Reinsurance Group of America from $238.00 to $261.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. Piper Sandler dropped their price target on Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. TD Cowen reissued a “hold” rating on shares of Reinsurance Group of America in a research note on Wednesday, January 28th. Finally, Morgan Stanley lifted their price target on Reinsurance Group of America from $208.00 to $223.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 3rd. Seven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $251.25.

Insider Activity

In related news, EVP Ronald Herrmann sold 7,000 shares of Reinsurance Group of America stock in a transaction dated Thursday, May 14th. The stock was 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 of the company’s stock, valued at approximately $829,264.04. The trade was a 64.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.60% of the company’s stock.

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.