Texas Permanent School Fund Corp Purchases 746 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Texas Permanent School Fund Corp boosted its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 1.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 57,680 shares of the insurance provider’s stock after acquiring an additional 746 shares during the period. Texas Permanent School Fund Corp owned 0.09% of Reinsurance Group of America worth $11,125,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Lindbrook Capital LLC boosted its holdings in Reinsurance Group of America by 129.9% in the fourth quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 87 shares during the last quarter. Pineridge Advisors LLC bought a new position in Reinsurance Group of America during the fourth quarter worth about $26,000. Rise Advisors LLC bought a new position in Reinsurance Group of America during the first quarter worth about $29,000. VisionPoint Advisory Group LLC boosted its holdings in Reinsurance Group of America by 116.3% during the third quarter. VisionPoint Advisory Group LLC now owns 212 shares of the insurance provider’s stock worth $31,000 after buying an additional 114 shares during the last quarter. Finally, Toth Financial Advisory Corp boosted its holdings in Reinsurance Group of America by 41.2% during the fourth quarter. Toth Financial Advisory Corp now owns 240 shares of the insurance provider’s stock worth $39,000 after buying an additional 70 shares during the last quarter. Institutional investors own 95.11% of the company’s stock.

Analyst Upgrades and Downgrades

RGA has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their target price on Reinsurance Group of America from $195.00 to $208.00 and gave the stock a “neutral” rating in a report on Tuesday, July 2nd. Wells Fargo & Company raised their price target on Reinsurance Group of America from $210.00 to $227.00 and gave the stock an “overweight” rating in a research report on Friday, May 10th. Morgan Stanley raised their price target on Reinsurance Group of America from $216.00 to $217.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Piper Sandler raised their price target on Reinsurance Group of America from $228.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, June 28th. Finally, Jefferies Financial Group raised their price target on Reinsurance Group of America from $63.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $207.45.

Insider Transactions at Reinsurance Group of America

In other news, EVP John W. Hayden sold 1,767 shares of Reinsurance Group of America stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $206.85, for a total transaction of $365,503.95. Following the completion of the transaction, the executive vice president now directly owns 16,490 shares in the company, valued at approximately $3,410,956.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.37% of the stock is currently owned by corporate insiders.

Reinsurance Group of America Stock Up 0.5 %

Reinsurance Group of America stock traded up $1.11 during midday trading on Friday, reaching $212.85. The stock had a trading volume of 3,340 shares, compared to its average volume of 347,418. The firm’s fifty day simple moving average is $206.62 and its 200-day simple moving average is $187.52. Reinsurance Group of America, Incorporated has a 1-year low of $135.07 and a 1-year high of $213.21. The stock has a market capitalization of $14.00 billion, a P/E ratio of 16.45 and a beta of 0.92. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.19 and a current ratio of 0.19.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Friday, May 3rd. The insurance provider reported $6.02 earnings per share for the quarter, beating analysts’ consensus estimates of $4.55 by $1.47. The firm had revenue of $6.34 billion during the quarter, compared to the consensus estimate of $4.54 billion. Reinsurance Group of America had a return on equity of 15.94% and a net margin of 4.16%. During the same period last year, the company earned $5.16 earnings per share. As a group, analysts expect that Reinsurance Group of America, Incorporated will post 21.11 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th were paid a $0.85 dividend. The ex-dividend date was Monday, May 13th. This represents a $3.40 dividend on an annualized basis and a yield of 1.60%. Reinsurance Group of America’s dividend payout ratio is 26.42%.

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.