Cerity Partners LLC Buys 17,253 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Cerity Partners LLC boosted its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 88.8% in the 3rd quarter, Holdings Channel reports. The firm owned 36,672 shares of the insurance provider’s stock after acquiring an additional 17,253 shares during the quarter. Cerity Partners LLC’s holdings in Reinsurance Group of America were worth $7,990,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Earnest Partners LLC grew its position in Reinsurance Group of America by 1.9% during the second quarter. Earnest Partners LLC now owns 2,628,129 shares of the insurance provider’s stock worth $539,476,000 after buying an additional 50,228 shares in the last quarter. WCM Investment Management LLC grew its holdings in shares of Reinsurance Group of America by 1,208.5% during the third quarter. WCM Investment Management LLC now owns 2,447,668 shares of the insurance provider’s stock worth $527,742,000 after purchasing an additional 2,260,605 shares in the last quarter. Sei Investments Co. raised its stake in Reinsurance Group of America by 5.9% in the second quarter. Sei Investments Co. now owns 825,719 shares of the insurance provider’s stock valued at $169,497,000 after purchasing an additional 45,709 shares in the last quarter. Zurich Insurance Group Ltd FI lifted its position in 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 purchasing an additional 442,883 shares during the last quarter. Finally, Millennium Management LLC grew its stake in Reinsurance Group of America by 43.8% in the 2nd quarter. Millennium Management LLC now owns 437,266 shares of the insurance provider’s stock worth $89,758,000 after buying an additional 133,212 shares in the last quarter. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Insiders Place Their Bets

In related news, EVP William L. Hutton sold 1,209 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total value of $264,734.73. Following the completion of the sale, the executive vice president now owns 12,357 shares of the company’s stock, valued at $2,705,812.29. This trade represents a 8.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.37% of the company’s stock.

Reinsurance Group of America Stock Down 0.9 %

Shares of Reinsurance Group of America stock opened at $229.46 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.17 and a current ratio of 0.17. Reinsurance Group of America, Incorporated has a 52-week low of $157.48 and a 52-week high of $233.81. The company’s 50 day moving average price is $219.86 and its 200-day moving average price is $213.42. The stock has a market capitalization of $15.11 billion, a price-to-earnings ratio of 21.07 and a beta of 0.92.

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, topping analysts’ consensus estimates of $5.31 by $0.82. The business had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.29 billion. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%. The company’s revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the firm earned $5.57 EPS. Equities research analysts forecast that Reinsurance Group of America, Incorporated will post 21.93 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date was Friday, November 8th. Reinsurance Group of America’s payout ratio is 32.69%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. TD Cowen began coverage on shares of Reinsurance Group of America in a report on Wednesday, October 9th. They set a “hold” rating and a $235.00 price objective for the company. Piper Sandler lifted their price target on Reinsurance Group of America from $237.00 to $242.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company increased their price objective on Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods upgraded Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, October 3rd. Finally, Barclays increased their price target on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Reinsurance Group of America has an average rating of “Moderate Buy” and an average price target of $227.77.

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.