Empowered Funds LLC Buys 8,939 Shares of Reinsurance Group of America, Incorporated $RGA

Empowered Funds LLC lifted its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 732.1% in the 1st quarter, HoldingsChannel reports. The firm owned 10,160 shares of the insurance provider’s stock after buying an additional 8,939 shares during the quarter. Empowered Funds LLC’s holdings in Reinsurance Group of America were worth $2,074,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC grew its holdings in shares of Reinsurance Group of America by 26.5% during the 1st quarter. SG Americas Securities LLC now owns 89,847 shares of the insurance provider’s stock worth $18,343,000 after acquiring an additional 18,826 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Reinsurance Group of America by 34.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 21,293 shares of the insurance provider’s stock valued at $4,332,000 after purchasing an additional 5,500 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Reinsurance Group of America by 8,703.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 50,974 shares of the insurance provider’s stock valued at $10,371,000 after purchasing an additional 50,395 shares in the last quarter. Interval Partners LP boosted its position in shares of Reinsurance Group of America by 186.5% during the fourth quarter. Interval Partners LP now owns 69,739 shares of the insurance provider’s stock valued at $14,189,000 after purchasing an additional 45,399 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Reinsurance Group of America by 3.4% in the first quarter. Principal Financial Group Inc. now owns 149,514 shares of the insurance provider’s stock worth $30,525,000 after purchasing an additional 4,913 shares during the period. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Insider Activity

In related news, EVP John W. Hayden sold 414 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $214.95, for a total value of $88,989.30. Following the transaction, the executive vice president owned 20,949 shares in the company, valued at $4,502,987.55. The trade was a 1.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ronald Herrmann sold 7,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $210.58, for a total transaction of $1,474,060.00. Following the completion of the transaction, the executive vice president owned 3,938 shares in the company, valued at approximately $829,264.04. The trade was a 64.00% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is owned by insiders.

Reinsurance Group of America Stock Up 0.1%

RGA stock opened at $236.51 on Friday. The business has a 50 day moving average of $221.48 and a 200 day moving average of $213.29. The firm has a market cap of $15.49 billion, a PE ratio of 12.81 and a beta of 0.47. Reinsurance Group of America, Incorporated has a twelve month low of $178.21 and a twelve month high of $245.00. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.46.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Thursday, August 6th. The insurance provider reported $8.89 EPS for the quarter, topping the consensus estimate of $6.50 by $2.39. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.The business had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.67 billion. During the same period in the previous year, the company posted $4.72 earnings per share. The company’s revenue for the quarter was up 18.5% compared to the same quarter last year. On average, research analysts forecast that Reinsurance Group of America, Incorporated will post 26.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RGA. TD Cowen increased their price objective on Reinsurance Group of America from $212.00 to $235.00 and gave the stock a “hold” rating in a report on Wednesday, July 22nd. Piper Sandler reduced their target price on shares of Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. JPMorgan Chase & Co. increased their price target on shares of Reinsurance Group of America from $270.00 to $286.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Wall Street Zen raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Barclays boosted their price objective on shares of Reinsurance Group of America from $268.00 to $278.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $255.00.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.