Lazard Asset Management LLC Buys 188,613 Shares of Reinsurance Group of America, Incorporated $RGA

Lazard Asset Management LLC increased its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 2,626.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 195,794 shares of the insurance provider’s stock after acquiring an additional 188,613 shares during the period. Lazard Asset Management LLC’s holdings in Reinsurance Group of America were worth $39,973,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Principal Securities Inc. lifted its holdings in Reinsurance Group of America by 3.6% in the 4th quarter. Principal Securities Inc. now owns 1,490 shares of the insurance provider’s stock worth $303,000 after purchasing an additional 52 shares during the last quarter. Rehmann Capital Advisory Group grew its holdings 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 valued at $819,000 after purchasing an additional 54 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings 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 purchasing an additional 56 shares during the last quarter. Covestor Ltd raised its position in shares of Reinsurance Group of America by 12.2% in the fourth quarter. Covestor Ltd now owns 533 shares of the insurance provider’s stock valued at $108,000 after purchasing an additional 58 shares during the period. Finally, Geneos Wealth Management Inc. raised its position in shares of Reinsurance Group of America by 17.6% in the first quarter. Geneos Wealth Management Inc. now owns 388 shares of the insurance provider’s stock valued at $76,000 after purchasing an additional 58 shares during the period. 95.11% of the stock is owned by institutional investors.

Reinsurance Group of America Stock Up 1.7%

Shares of RGA stock opened at $242.97 on Wednesday. Reinsurance Group of America, Incorporated has a 12 month low of $165.52 and a 12 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. The firm has a market cap of $15.92 billion, a PE ratio of 13.16 and a beta of 0.47. The stock has a 50 day moving average of $217.92 and a 200-day moving average of $211.42.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings data on Thursday, May 7th. The insurance provider reported $6.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.03 by $0.94. Reinsurance Group of America had a net margin of 4.92% and a return on equity of 13.16%. The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.47 billion. During the same quarter last year, the company posted $5.66 earnings per share. Reinsurance Group of America’s quarterly revenue was up 23.5% on a year-over-year basis. On average, equities analysts predict that Reinsurance Group of America, Incorporated will post 26.84 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 19th were given a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 1.5%. The ex-dividend date was Tuesday, May 19th. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 20.15%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RGA. JPMorgan Chase & Co. upped their price objective on shares of Reinsurance Group of America from $270.00 to $286.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Evercore reissued an “outperform” rating and set a $267.00 target price on shares of Reinsurance Group of America in a research report on Monday, May 18th. Wall Street Zen upgraded shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Reinsurance Group of America in a research report on Wednesday, May 13th. Finally, Piper Sandler dropped their price objective on Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $255.00.

Insider Buying and Selling at Reinsurance Group of America

In other 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 transaction of $88,989.30. Following the completion of the transaction, the executive vice president owned 20,949 shares of the company’s stock, valued at approximately $4,502,987.55. This represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ronald Herrmann sold 7,000 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $210.58, for a total transaction of $1,474,060.00. Following the completion of the sale, the executive vice president owned 3,938 shares of the company’s stock, 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. Company insiders own 0.60% of the company’s stock.

About Reinsurance Group of America

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.