Storgate LLC Acquires Shares of 2,594 Reinsurance Group of America, Incorporated $RGA

Storgate LLC acquired a new stake in Reinsurance Group of America, Incorporated (NYSE:RGA) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 2,594 shares of the insurance provider’s stock, valued at approximately $528,000.

Other large investors also recently bought and sold shares of the company. Activest Wealth Management acquired a new stake in Reinsurance Group of America in the fourth quarter valued at approximately $30,000. International Assets Investment Management LLC acquired a new stake in Reinsurance Group of America in the fourth quarter valued at approximately $35,000. Entrust Financial LLC purchased a new position in shares of Reinsurance Group of America during the 4th quarter valued at approximately $40,000. Advisory Services Network LLC purchased a new position in shares of Reinsurance Group of America during the 3rd quarter valued at approximately $38,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Reinsurance Group of America by 632.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 205 shares of the insurance provider’s stock valued at $42,000 after buying an additional 177 shares during the last quarter. Institutional investors and hedge funds own 95.11% of the company’s stock.

Insider Buying and Selling at Reinsurance Group of America

In related news, EVP John W. Hayden sold 414 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total transaction of $88,989.30. Following the transaction, the executive vice president directly owned 20,949 shares in the company, valued at $4,502,987.55. This trade represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ronald Herrmann sold 7,000 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president owned 3,938 shares in the company, valued at $829,264.04. This trade represents a 64.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on RGA. JPMorgan Chase & Co. increased their target price on Reinsurance Group of America from $264.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Morgan Stanley increased their target price 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. Piper Sandler reduced their target price on 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. Wall Street Zen upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Wells Fargo & Company increased their target price 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. 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $251.25.

Reinsurance Group of America Stock Performance

Reinsurance Group of America stock opened at $210.63 on Friday. The stock has a 50 day moving average of $208.20 and a 200-day moving average of $205.62. Reinsurance Group of America, Incorporated has a 52 week low of $165.52 and a 52 week high of $229.21. The stock has a market cap of $13.80 billion, a P/E ratio of 11.41 and a beta of 0.47. 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 (NYSE:RGA) last announced its quarterly earnings data on Thursday, May 7th. The insurance provider reported $6.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.03 by $0.94. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.The firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.47 billion. During the same period last year, the business posted $5.66 earnings per share. The firm’s revenue for the quarter was up 23.5% on a year-over-year basis. On average, analysts expect that Reinsurance Group of America, Incorporated will post 26.88 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th were paid a dividend of $0.93 per share. The ex-dividend date was Tuesday, May 19th. This represents a $3.72 annualized dividend and a yield of 1.8%. Reinsurance Group of America’s dividend payout ratio (DPR) is 20.15%.

About Reinsurance Group of America

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.