Reinsurance Group of America, Incorporated $RGA Shares Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems increased its RGA stake by 55.7% in the third quarter, acquiring 3,900 additional shares and bringing its holdings to 10,900 shares worth approximately $2.68 million.
• Institutional ownership remains high at 95.11%, while several other investment firms also increased or initiated positions. An RGA executive separately sold 8,589 shares, reducing their direct stake by 36.59%.
• RGA reported quarterly EPS of $8.89, well above the $6.50 consensus estimate, with revenue up 18.5% year over year. Analysts maintain a consensus “Buy” rating with an average price target of $273.75.

VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 55.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,900 shares of the insurance provider's stock after acquiring an additional 3,900 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in Reinsurance Group of America were worth $2,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Parcion Private Wealth LLC raised its stake in Reinsurance Group of America by 19.2% during the third quarter. Parcion Private Wealth LLC now owns 1,850 shares of the insurance provider's stock valued at $456,000 after purchasing an additional 298 shares in the last quarter. Soltis Investment Advisors LLC bought a new position in Reinsurance Group of America during the third quarter valued at $213,000. Choreo LLC grew its stake in shares of Reinsurance Group of America by 98.2% in the 3rd quarter. Choreo LLC now owns 2,037 shares of the insurance provider's stock worth $502,000 after buying an additional 1,009 shares in the last quarter. North Dakota State Investment Board grew its stake in shares of Reinsurance Group of America by 2.2% in the 3rd quarter. North Dakota State Investment Board now owns 2,005 shares of the insurance provider's stock worth $494,000 after buying an additional 44 shares in the last quarter. Finally, Balance Wealth Partners LLC purchased a new position in shares of Reinsurance Group of America in the 3rd quarter worth $30,000. 95.11% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Reinsurance Group of America news, EVP Jonathan Porter sold 8,589 shares of the stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $246.30, for a total transaction of $2,115,470.70. Following the sale, the executive vice president directly owned 14,885 shares of the company's stock, valued at approximately $3,666,175.50. This trade represents a 36.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.60% of the company's stock.

Reinsurance Group of America Trading Up 0.9%

Shares of NYSE RGA opened at $267.08 on Tuesday. The stock has a market capitalization of $17.44 billion, a P/E ratio of 11.73 and a beta of 0.45. The business has a fifty day moving average price of $253.73 and a 200 day moving average price of $224.97. Reinsurance Group of America, Incorporated has a 1-year low of $179.52 and a 1-year high of $272.44. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.14 and a quick ratio of 0.14.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The insurance provider reported $8.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.50 by $2.39. The business had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.67 billion. Reinsurance Group of America had a return on equity of 14.78% and a net margin of 5.81%. The business's quarterly revenue was up 18.5% on a year-over-year basis. During the same period in the prior year, the firm posted $4.72 earnings per share. Equities research analysts expect that Reinsurance Group of America, Incorporated will post 29.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

RGA has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price objective on Reinsurance Group of America from $293.00 to $297.00 and gave the company an "overweight" rating in a research note on Thursday, October 15th. Barclays set a $292.00 target price on Reinsurance Group of America in a research report on Thursday, October 8th. Weiss Ratings reissued a "buy (b)" rating on shares of Reinsurance Group of America in a research report on Friday, August 7th. UBS Group upgraded Reinsurance Group of America from a "hold" rating to a "strong-buy" rating in a report on Friday, July 24th. Finally, Wells Fargo & Company raised their price target on Reinsurance Group of America from $291.00 to $292.00 and gave the stock an "overweight" rating in a research report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $273.75.

Reinsurance Group of America Profile

Reinsurance Group of America, Incorporated NYSE: RGA is a global provider of life and health reinsurance. The company works with insurance carriers to help them manage mortality, longevity, morbidity and other insurance risks, while supporting the development and distribution of life and health insurance products.

RGA's offerings include traditional life reinsurance, including term, whole life and universal life coverage, as well as health reinsurance and financial solutions. Its financial solutions business provides capital management, asset-intensive reinsurance, longevity and other risk-management arrangements designed to help insurers manage their balance sheets and meet changing customer and regulatory needs.

Founded in 1973 as part of General American Life Insurance Company, RGA became an independent public company in 1993.

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