Summit Global Investments Has $3.92 Million Stock Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Summit Global Investments increased its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 177.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,989 shares of the insurance provider’s stock after acquiring an additional 11,495 shares during the period. Summit Global Investments’ holdings in Reinsurance Group of America were worth $3,919,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Zurich Insurance Group Ltd FI increased its position in shares of Reinsurance Group of America by 681.8% during the second quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider’s stock valued at $104,244,000 after acquiring an additional 442,883 shares during the last quarter. Millennium Management LLC raised its position in Reinsurance Group of America by 43.8% in the second quarter. Millennium Management LLC now owns 437,266 shares of the insurance provider’s stock worth $89,758,000 after acquiring an additional 133,212 shares during the period. Jupiter Asset Management Ltd. purchased a new position in Reinsurance Group of America in the first quarter valued at about $24,918,000. Earnest Partners LLC grew its position in shares of Reinsurance Group of America by 4.2% during the 1st quarter. Earnest Partners LLC now owns 2,577,901 shares of the insurance provider’s stock valued at $497,226,000 after acquiring an additional 104,256 shares during the period. Finally, M&G Plc purchased a new stake in shares of Reinsurance Group of America during the 1st quarter worth approximately $15,658,000. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Stock Down 3.2 %

RGA opened at $220.40 on Friday. The stock has a market cap of $14.52 billion, a PE ratio of 20.24 and a beta of 0.92. Reinsurance Group of America, Incorporated has a 52 week low of $154.79 and a 52 week high of $227.87. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.45. The business’s fifty day simple moving average is $215.96 and its 200 day simple moving average is $209.94.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.31 by $0.82. The company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.29 billion. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. Reinsurance Group of America’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.57 EPS. As a group, research analysts expect that Reinsurance Group of America, Incorporated will post 21.74 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Friday, November 8th. Reinsurance Group of America’s payout ratio is 32.69%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on RGA shares. StockNews.com upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Piper Sandler upped their price target on Reinsurance Group of America from $237.00 to $242.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. TD Cowen began coverage on Reinsurance Group of America in a report on Wednesday, October 9th. They issued a “hold” rating and a $235.00 price objective for the company. Royal Bank of Canada boosted their price objective on Reinsurance Group of America from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Morgan Stanley cut their target price on shares of Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Reinsurance Group of America presently has an average rating of “Moderate Buy” and a consensus target price of $227.38.

Insider Buying and Selling

In related news, EVP William L. Hutton sold 1,209 shares of Reinsurance Group of America stock in a transaction that occurred 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 sale, the executive vice president now directly owns 12,357 shares in the company, valued at $2,705,812.29. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.37% of the stock is owned by insiders.

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.