Fifth Third Bancorp Has $9.90 Million Stake in Reinsurance Group of America, Incorporated $RGA

Fifth Third Bancorp raised its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 126.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 48,486 shares of the insurance provider’s stock after acquiring an additional 27,115 shares during the quarter. Fifth Third Bancorp’s holdings in Reinsurance Group of America were worth $9,899,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Securities Inc. lifted its stake in shares of Reinsurance Group of America by 3.6% in the fourth quarter. Principal Securities Inc. now owns 1,490 shares of the insurance provider’s stock valued at $303,000 after buying an additional 52 shares during the period. Rehmann Capital Advisory Group grew its position in Reinsurance Group of America by 1.3% during the third quarter. Rehmann Capital Advisory Group now owns 4,281 shares of the insurance provider’s stock worth $819,000 after buying an additional 54 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in Reinsurance Group of America by 6.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 974 shares of the insurance provider’s stock valued at $198,000 after acquiring an additional 56 shares during the period. Covestor Ltd increased its stake in Reinsurance Group of America by 12.2% during the fourth quarter. Covestor Ltd now owns 533 shares of the insurance provider’s stock valued at $108,000 after acquiring an additional 58 shares during the period. Finally, Geneos Wealth Management Inc. raised its holdings in Reinsurance Group of America by 17.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 388 shares of the insurance provider’s stock valued at $76,000 after acquiring an additional 58 shares in the last quarter. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Stock Performance

NYSE:RGA opened at $234.37 on Thursday. Reinsurance Group of America, Incorporated has a 12-month low of $165.52 and a 12-month high of $238.91. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $15.35 billion, a PE ratio of 12.70 and a beta of 0.47. The firm has a 50-day moving average price of $212.81 and a 200 day moving average price of $209.18.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Thursday, May 7th. The insurance provider reported $6.97 earnings per share for the quarter, beating analysts’ consensus estimates of $6.03 by $0.94. The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.47 billion. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.The company’s quarterly revenue was up 23.5% on a year-over-year basis. During the same period in the previous year, the business earned $5.66 earnings per share. Research analysts anticipate that Reinsurance Group of America, Incorporated will post 26.86 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th were given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Tuesday, May 19th. Reinsurance Group of America’s dividend payout ratio (DPR) is 20.15%.

Insider Activity at Reinsurance Group of America

In other Reinsurance Group of America news, EVP Ronald Herrmann sold 7,000 shares of the stock in a transaction on 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 directly owned 3,938 shares in the company, valued at $829,264.04. This represents a 64.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John W. Hayden sold 414 shares of the stock in a transaction on Wednesday, May 20th. The stock was 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 of the company’s stock, valued at $4,502,987.55. This represents a 1.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Evercore reiterated an “outperform” rating and issued a $267.00 price objective on shares of Reinsurance Group of America in a research report on Monday, May 18th. Wall Street Zen upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Wells Fargo & Company upped their target price on Reinsurance Group of America from $261.00 to $269.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Piper Sandler cut their target price on Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Finally, Barclays raised their target price on Reinsurance Group of America from $268.00 to $278.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Seven equities research 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $255.50.

Reinsurance Group of America 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.