Benson Investment Management Company Inc. Acquires Shares of 25,333 Reinsurance Group of America, Incorporated (NYSE:RGA)

Benson Investment Management Company Inc. acquired a new stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) during the first quarter, Holdings Channel.com reports. The firm acquired 25,333 shares of the insurance provider’s stock, valued at approximately $4,886,000. Reinsurance Group of America comprises about 2.1% of Benson Investment Management Company Inc.’s portfolio, making the stock its 22nd biggest position.

A number of other hedge funds have also bought and sold shares of RGA. Lindbrook Capital LLC increased its position in Reinsurance Group of America by 129.9% during the fourth quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 87 shares during the last quarter. Pineridge Advisors LLC purchased a new stake in shares of Reinsurance Group of America during the fourth quarter valued at $26,000. Rise Advisors LLC purchased a new stake in shares of Reinsurance Group of America during the first quarter valued at $29,000. VisionPoint Advisory Group LLC boosted its stake in shares of Reinsurance Group of America by 116.3% during the third quarter. VisionPoint Advisory Group LLC now owns 212 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 114 shares during the period. Finally, Toth Financial Advisory Corp boosted its stake in shares of Reinsurance Group of America by 41.2% during the fourth quarter. Toth Financial Advisory Corp now owns 240 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 70 shares during the period. Institutional investors own 95.11% of the company’s stock.

Insiders Place Their Bets

In other news, EVP John W. Hayden sold 1,767 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $206.85, for a total transaction of $365,503.95. Following the transaction, the executive vice president now owns 16,490 shares in the company, valued at $3,410,956.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.37% of the stock is currently owned by corporate insiders.

Reinsurance Group of America Stock Down 0.2 %

Reinsurance Group of America stock traded down $0.45 during trading hours on Friday, reaching $207.21. The stock had a trading volume of 581,218 shares, compared to its average volume of 284,131. The company has a market cap of $13.63 billion, a price-to-earnings ratio of 16.10 and a beta of 0.92. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.19 and a quick ratio of 0.19. The business’s 50 day moving average price is $201.17 and its 200-day moving average price is $183.60. Reinsurance Group of America, Incorporated has a 52 week low of $135.07 and a 52 week high of $213.21.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Friday, May 3rd. The insurance provider reported $6.02 EPS for the quarter, topping analysts’ consensus estimates of $4.55 by $1.47. The business had revenue of $6.34 billion during the quarter, compared to the consensus estimate of $4.54 billion. Reinsurance Group of America had a net margin of 4.16% and a return on equity of 15.94%. During the same period in the previous year, the company posted $5.16 earnings per share. Sell-side analysts anticipate that Reinsurance Group of America, Incorporated will post 20.94 EPS for the current year.

Reinsurance Group of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th were issued a $0.85 dividend. The ex-dividend date of this dividend was Monday, May 13th. This represents a $3.40 dividend on an annualized basis and a yield of 1.64%. Reinsurance Group of America’s dividend payout ratio is presently 26.42%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on RGA shares. UBS Group boosted their target price on shares of 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. Piper Sandler boosted their target price on shares of Reinsurance Group of America from $195.00 to $220.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Evercore ISI boosted their target price on shares of Reinsurance Group of America from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. upped their price objective on shares of Reinsurance Group of America from $189.00 to $195.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Finally, Morgan Stanley upped their price objective on shares of Reinsurance Group of America from $178.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Two investment 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 stock. According to data from MarketBeat, Reinsurance Group of America has a consensus rating of “Moderate Buy” and a consensus price target of $211.00.

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.