Illinois Municipal Retirement Fund buys 2,319 shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Illinois Municipal Retirement Fund increased its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA – Free Report) by 21.4% during the first quarter, the company reported in its latest Form 13F filing with the Securities and Exchange Commission. The fund owned 13,155 shares of the insurance company after purchasing an additional 2,319 shares during the period. Illinois Municipal Retirement Fund’s holdings in Reinsurance Group of America were worth $2,537,000 in its latest filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Lindbrook Capital LLC increased its holdings in Reinsurance Group of America by 129.9% in the fourth quarter. Lindbrook Capital LLC now owns 154 shares of the insurance company’s stock valued at $25,000 after acquiring an additional 87 shares during the last quarter. Pineridge Advisors LLC bought a new stake in Reinsurance Group of America in the fourth quarter valued at approximately $26,000. Rise Advisors LLC bought a new stake in Reinsurance Group of America in the first quarter valued at approximately $29,000. VisionPoint Advisory Group LLC increased its holdings in Reinsurance Group of America by 116.3% in the third quarter. VisionPoint Advisory Group LLC now owns 212 shares of the insurance company’s stock valued at $31,000 after acquiring an additional 114 shares during the last quarter. Finally, Toth Financial Advisory Corp increased its stake in Reinsurance Group of America by 41.2% in the fourth quarter. Toth Financial Advisory Corp now owns 240 shares of the insurance company’s stock valued at $39,000 after acquiring an additional 70 shares during the last quarter. 95.11% of the shares are currently in the hands of institutional investors.

Changes in analyst ratings

Several brokerage firms recently commented on RGA. Raymond James increased their price target on Reinsurance Group of America from $212.00 to $228.00 and gave the company a “strong buy” rating in a report on Friday, June 14th. Evercore ISI increased their price target on Reinsurance Group of America from $225.00 to $241.00 and gave the stock an “outperform” rating in a report on Wednesday, June 26th. UBS Group increased their price target on Reinsurance Group of America from $223.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. increased their price target 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. Finally, Royal Bank of Canada reiterated their “outperform” rating and set a $225.00 price target on Reinsurance Group of America shares in a report on Friday, June 14th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating, and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “moderate buy” and a consensus price target of $207.45.

Check out our latest stock report on RGA

Reinsurance Group of America Price Performance

NYSE:RGA stock opened at $212.64 on Monday. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.46. Reinsurance Group of America, Incorporated has a twelve month low of $135.07 and a twelve month high of $213.58. The stock’s 50-day moving average is $206.83 and its 200-day moving average is $188.25. The firm has a market capitalization of $13.99 billion, a price-to-earnings ratio of 16.52 and a beta of 0.92.

Reinsurance Group of America (NYSE:RGA – Get Free Report) last posted its 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 company had revenue of $6.34 billion for the quarter, compared to analysts’ estimates 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 of earnings per share. Sell-side analysts forecast that Reinsurance Group of America, Incorporated will post $21.11 of EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

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

Internal activity at Reinsurance Group of America

In related news, Executive Vice President John W. Hayden sold 1,767 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $206.85, for a total value of $365,503.95. Following the completion of the sale, the Executive Vice President now directly owns 16,490 shares of the company’s stock, valued at approximately $3,410,956.50. The transaction was disclosed in a legal filing with the Securities and Exchange Commission, which is available at this link. 1.37% of the shares are currently in the hands of insiders.

About Reinsurance Group of America

(Free Report)

Reinsurance Group of America, Incorporated is engaged in the business of reinsurance. The company offers individual and group life and health insurance products, including term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability and longevity products; financial and asset-intensive reinsurance products; and other capital-motivated solutions.