Crossmark Global Holdings Inc. Grows Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Crossmark Global Holdings Inc. grew its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 30.3% during the third quarter, HoldingsChannel.com reports. The fund owned 5,233 shares of the insurance provider’s stock after acquiring an additional 1,216 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Reinsurance Group of America were worth $1,140,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of RGA. GAMMA Investing LLC lifted its stake in shares of Reinsurance Group of America by 8.9% during the 3rd quarter. GAMMA Investing LLC now owns 609 shares of the insurance provider’s stock worth $133,000 after acquiring an additional 50 shares during the last quarter. Resonant Capital Advisors LLC boosted its stake in shares of Reinsurance Group of America by 1.2% during the third quarter. Resonant Capital Advisors LLC now owns 4,368 shares of the insurance provider’s stock valued at $952,000 after purchasing an additional 53 shares during the period. GHP Investment Advisors Inc. boosted its stake in shares of Reinsurance Group of America by 0.7% during the second quarter. GHP Investment Advisors Inc. now owns 9,462 shares of the insurance provider’s stock valued at $1,942,000 after purchasing an additional 62 shares during the period. Covestor Ltd grew its holdings in shares of 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 purchasing an additional 63 shares during the last quarter. Finally, Tectonic Advisors LLC increased its position in shares of Reinsurance Group of America by 3.0% during the third quarter. Tectonic Advisors LLC now owns 2,358 shares of the insurance provider’s stock worth $514,000 after acquiring an additional 69 shares during the period. 95.11% of the stock is owned by hedge funds and other institutional investors.

Reinsurance Group of America Trading Down 0.3 %

Reinsurance Group of America stock opened at $229.61 on Friday. Reinsurance Group of America, Incorporated has a one year low of $156.98 and a one year high of $232.70. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.17 and a current ratio of 0.17. The stock has a market cap of $15.12 billion, a PE ratio of 21.08 and a beta of 0.92. The stock has a 50-day moving average of $216.67 and a two-hundred day moving average of $211.22.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share for the quarter, topping the consensus estimate 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 net margin of 3.32% and a return on equity of 15.01%. 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 firm earned $5.57 EPS. On average, research analysts anticipate that Reinsurance Group of America, Incorporated will post 21.93 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be given a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Friday, November 8th. Reinsurance Group of America’s payout ratio is 32.69%.

Insider Buying and Selling

In other news, EVP William L. Hutton sold 1,209 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $218.97, for a total value of $264,734.73. Following the transaction, the executive vice president now directly owns 12,357 shares of the company’s stock, valued at approximately $2,705,812.29. This represents a 8.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.37% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RGA. Royal Bank of Canada lifted their price objective on Reinsurance Group of America from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Citigroup boosted their price objective on shares of Reinsurance Group of America from $194.00 to $252.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Piper Sandler upped their target price on Reinsurance Group of America from $237.00 to $242.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. StockNews.com upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Finally, Barclays decreased their price objective on Reinsurance Group of America from $255.00 to $250.00 and set an “overweight” rating for the company in a research note on Tuesday, October 8th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Reinsurance Group of America currently has an average rating of “Moderate Buy” and an average price target of $227.38.

Reinsurance Group of America Company 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.