1,326 shares in Reinsurance Group of America, Incorporated (NYSE:RGA) acquired by First Citizens Bank & Trust Co.

VaselineAugust 21, 2024

0 4 minutes read

First Citizens Bank & Trust Co. bought a new position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA – Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,326 shares of the insurance provider’s stock, valued at approximately $272,000.

Several other hedge funds have recently added to or reduced their stakes in RGA. Covestor Ltd boosted its holdings in Reinsurance Group of America by 20.3% in the first quarter. Covestor Ltd now owns 374 shares of the insurance provider’s stock worth $72,000 after buying an additional 63 shares during the period. GAMMA Investing LLC boosted its stake in Reinsurance Group of America by 16.5% in the second quarter. GAMMA Investing LLC now owns 559 shares of the insurance provider’s stock worth $115,000 after purchasing an additional 79 shares during the period. Hilltop National Bank raised its position in Reinsurance Group of America by 13.1% during the 2nd quarter. Hilltop National Bank now owns 706 shares of the insurance provider’s stock worth $145,000 after buying an additional 82 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in shares of Reinsurance Group of America by 129.9% in the fourth quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 87 shares in the last quarter. Finally, Private Advisor Group LLC boosted its position in shares of Reinsurance Group of America by 2.2% in the fourth quarter. Private Advisor Group LLC now owns 4,246 shares of the insurance provider’s stock worth $687,000 after purchasing an additional 92 shares during the period. Institutional investors and hedge funds own 95.11% of the company’s shares.

Analyst upgrades and downgrades

A number of research firms recently weighed in on RGA. Keefe, Bruyette & Woods upped their target price on shares of Reinsurance Group of America from $220.00 to $235.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 7th. UBS Group boosted their price target on Reinsurance Group of America from $223.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Raymond James raised their price objective on shares of Reinsurance Group of America from $212.00 to $228.00 and gave the company a “strong-buy” rating in a research report on Friday, June 14th. Piper Sandler raised their price objective on shares of Reinsurance Group of America from $228.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, June 28th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Reinsurance Group of America from $208.00 to $220.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Reinsurance Group of America presently has an average rating of “Moderate Buy” and a consensus price target of $220.45, according to MarketBeat.com.

Want more great investment ideas?

Check out Reinsurance Group of America’s latest stock report

Americas Reinsurance Group price performance

RGA traded down $0.38 during trading on Wednesday, reaching $206.82. The company’s stock had a trading volume of 3,520 shares, compared to its average volume of 372,806. The company has a quick ratio of 0.17, a current ratio of 0.17, and a debt-to-equity ratio of 0.52. The stock has a market cap of $13.61 billion, a price-to-earnings ratio of 16.10 and a beta of 0.92. The company’s 50-day moving average price is $208.95, and its two-hundred-day moving average price is $196.54. Reinsurance Group of America, Incorporated has a 12-month low of $135.20 and a 12-month high of $227.87.

Reinsurance Group of America (NYSE:RGA – Get Free Report ) last posted its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.94 by $0.54. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The business had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $5.07 billion. In the same quarter last year, the company earned $4.40 EPS. The company’s quarterly revenue was up 17.4% year over year. sell-side analysts anticipate that Reinsurance Group of America, Incorporated will post 21.5 earnings per share for the current fiscal year.

Reinsurance Group of America increased dividends

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th will be paid a dividend of $0.89 per share. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.85. The ex-dividend date is Friday, August 9. This represents an annualized dividend of $3.56 and a dividend yield of 1.72%. Reinsurance Group of America’s payout ratio is currently 27.66%.

Reinsurance Group of America Profile

(Free Report)

Reinsurance Group of America, Incorporated is engaged in the business of reinsurance. The company offers individual and group life and health insurance products such as term life, credit, universal life, whole life, group life and health, joint and last survivor , of critical illness, disability and longevity; financial and asset-intensive reinsurance products; and other capital driven solutions.