Cannon Global Investment Management LLC Takes $545,000 Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Cannon Global Investment Management LLC purchased a new stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) in the 3rd quarter, Holdings Channel.com reports. The fund purchased 2,500 shares of the insurance provider’s stock, valued at approximately $545,000.

Other large investors also recently modified their holdings of the company. Meeder Asset Management Inc. acquired a new stake in Reinsurance Group of America in the first quarter worth $675,000. Price T Rowe Associates Inc. MD raised its position in Reinsurance Group of America by 22.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 143,178 shares of the insurance provider’s stock worth $27,617,000 after acquiring an additional 26,306 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its position in Reinsurance Group of America by 50.9% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 7,486 shares of the insurance provider’s stock worth $1,459,000 after acquiring an additional 2,524 shares during the period. State Board of Administration of Florida Retirement System increased its stake in shares of Reinsurance Group of America by 5.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 67,400 shares of the insurance provider’s stock worth $13,000,000 after purchasing an additional 3,247 shares in the last quarter. Finally, M&G Plc increased its stake in shares of Reinsurance Group of America by 5.0% in the second quarter. M&G Plc now owns 85,153 shares of the insurance provider’s stock worth $17,456,000 after purchasing an additional 4,025 shares in the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP William L. Hutton sold 1,209 shares of Reinsurance Group of America stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total transaction of $264,734.73. Following the completion of the sale, the executive vice president now directly owns 12,357 shares in the company, valued at approximately $2,705,812.29. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.37% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Royal Bank of Canada boosted their price objective on shares of Reinsurance Group of America from $225.00 to $235.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Keefe, Bruyette & Woods upgraded shares of Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, October 3rd. Piper Sandler upped their price target on shares of Reinsurance Group of America from $237.00 to $242.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Finally, Barclays decreased their price objective on shares of Reinsurance Group of America from $255.00 to $250.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $226.62.

Reinsurance Group of America Price Performance

RGA traded up $4.02 during trading on Friday, reaching $215.10. 924,285 shares of the company traded hands, compared to its average volume of 317,857. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.17 and a current ratio of 0.17. Reinsurance Group of America, Incorporated has a 12-month low of $146.16 and a 12-month high of $227.87. The firm has a fifty day simple moving average of $215.72 and a 200 day simple moving average of $209.22. The company has a market cap of $14.17 billion, a P/E ratio of 19.75 and a beta of 0.92.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share for the quarter, beating analysts’ consensus estimates of $5.31 by $0.82. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.68%. The firm had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.29 billion. During the same period last year, the firm posted $5.57 earnings per share. Reinsurance Group of America’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, equities analysts forecast that Reinsurance Group of America, Incorporated will post 21.8 EPS for the current year.

Reinsurance Group of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Tuesday, November 12th. Reinsurance Group of America’s payout ratio is 32.69%.

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.