ProShare Advisors LLC Acquires 38,017 Shares of Reinsurance Group of America, Incorporated $RGA

ProShare Advisors LLC grew its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 27.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 176,576 shares of the insurance provider’s stock after buying an additional 38,017 shares during the quarter. ProShare Advisors LLC owned approximately 0.27% of Reinsurance Group of America worth $35,026,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Summit X LLC acquired a new stake in Reinsurance Group of America in the 2nd quarter valued at about $565,000. Zions Bancorporation National Association UT grew its stake in shares of Reinsurance Group of America by 97.2% during the second quarter. Zions Bancorporation National Association UT now owns 8,177 shares of the insurance provider’s stock valued at $1,622,000 after purchasing an additional 4,031 shares during the last quarter. Campbell & CO Investment Adviser LLC increased its holdings in shares of Reinsurance Group of America by 163.2% in the second quarter. Campbell & CO Investment Adviser LLC now owns 20,655 shares of the insurance provider’s stock valued at $4,097,000 after purchasing an additional 12,806 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Reinsurance Group of America by 13.0% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 35,183 shares of the insurance provider’s stock worth $6,979,000 after purchasing an additional 4,061 shares during the last quarter. Finally, True Wealth Design LLC lifted its holdings in Reinsurance Group of America by 1,323.8% during the 2nd quarter. True Wealth Design LLC now owns 299 shares of the insurance provider’s stock worth $59,000 after buying an additional 278 shares in the last quarter. Institutional investors and hedge funds own 95.11% of the company’s stock.

Reinsurance Group of America Price Performance

Reinsurance Group of America stock opened at $185.95 on Wednesday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $12.22 billion, a P/E ratio of 16.14 and a beta of 0.62. The business has a 50-day moving average of $190.53 and a 200-day moving average of $194.11. Reinsurance Group of America, Incorporated has a 1 year low of $159.25 and a 1 year high of $233.81.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Thursday, October 30th. The insurance provider reported $6.37 earnings per share for the quarter, beating analysts’ consensus estimates of $5.80 by $0.57. Reinsurance Group of America had a net margin of 3.54% and a return on equity of 12.56%. The business had revenue of $6.20 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same period last year, the company posted $6.13 EPS. Reinsurance Group of America’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, equities analysts anticipate that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 11th will be given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, November 10th. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 28.62%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RGA. Barclays restated an “overweight” rating and set a $246.00 target price on shares of Reinsurance Group of America in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods dropped their price objective on Reinsurance Group of America from $255.00 to $240.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Raymond James Financial lowered shares of Reinsurance Group of America from a “market perform” rating to an “underperform” rating in a research note on Friday, October 17th. Piper Sandler reiterated an “overweight” rating on shares of Reinsurance Group of America in a research report on Tuesday, October 7th. Finally, Morgan Stanley cut their price objective on shares of Reinsurance Group of America from $210.00 to $195.00 and set an “equal weight” rating on the stock in a report on Monday, August 18th. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $239.89.

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.