Oak Thistle LLC Invests $616,000 in Reinsurance Group of America, Incorporated (NYSE:RGA)

Oak Thistle LLC bought a new position in Reinsurance Group of America, Incorporated (NYSE:RGA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,999 shares of the insurance provider’s stock, valued at approximately $616,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RGA. Norges Bank purchased a new stake in Reinsurance Group of America during the 4th quarter valued at $122,301,000. Junto Capital Management LP bought a new position in Reinsurance Group of America in the fourth quarter valued at about $92,083,000. Balyasny Asset Management L.P. purchased a new position in Reinsurance Group of America in the fourth quarter worth about $67,177,000. Corient Private Wealth LLC grew its stake in shares of Reinsurance Group of America by 1,965.4% during the 4th quarter. Corient Private Wealth LLC now owns 298,352 shares of the insurance provider’s stock valued at $48,267,000 after purchasing an additional 283,907 shares during the period. Finally, Public Employees Retirement Association of Colorado increased its position in shares of Reinsurance Group of America by 713.2% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 291,125 shares of the insurance provider’s stock valued at $47,098,000 after purchasing an additional 255,326 shares during the last quarter. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Price Performance

Shares of NYSE:RGA opened at $212.24 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.17 and a current ratio of 0.17. The firm has a market cap of $13.98 billion, a price-to-earnings ratio of 16.49 and a beta of 0.91. The firm has a fifty day moving average price of $211.40 and a 200 day moving average price of $200.81. Reinsurance Group of America, Incorporated has a fifty-two week low of $138.61 and a fifty-two week high of $227.87.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.94 by $0.54. The firm had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $5.07 billion. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. The business’s revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.40 earnings per share. As a group, sell-side analysts expect that Reinsurance Group of America, Incorporated will post 21.5 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were paid a dividend of $0.89 per share. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.56 dividend on an annualized basis and a yield of 1.68%. Reinsurance Group of America’s dividend payout ratio is presently 27.66%.

Wall Street Analysts Forecast Growth

RGA has been the topic of a number of research reports. Piper Sandler raised their price objective on shares of Reinsurance Group of America from $228.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, June 28th. JPMorgan Chase & Co. lifted their target price on Reinsurance Group of America from $208.00 to $220.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Jefferies Financial Group lifted their price objective on Reinsurance Group of America from $63.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Royal Bank of Canada increased their target price 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. Finally, Wells Fargo & Company lifted their price target on shares of Reinsurance Group of America from $236.00 to $239.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Reinsurance Group of America has a consensus rating of “Moderate Buy” and an average target price of $223.33.

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.