Highview Capital Management LLC DE Makes New Investment in Reinsurance Group of America, Incorporated $RGA

Highview Capital Management LLC DE bought a new position in Reinsurance Group of America, Incorporated (NYSE:RGA) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 5,885 shares of the insurance provider’s stock, valued at approximately $1,167,000.

A number of other institutional investors also recently modified their holdings of RGA. Mount Lucas Management LP raised its holdings in Reinsurance Group of America by 3.6% in the 1st quarter. Mount Lucas Management LP now owns 2,223 shares of the insurance provider’s stock worth $438,000 after acquiring an additional 77 shares during the period. Carnegie Investment Counsel bought a new position in shares of Reinsurance Group of America in the first quarter worth about $257,000. Journey Strategic Wealth LLC boosted its stake in Reinsurance Group of America by 4.9% during the 1st quarter. Journey Strategic Wealth LLC now owns 1,204 shares of the insurance provider’s stock valued at $237,000 after purchasing an additional 56 shares during the period. Cetera Investment Advisers grew its holdings in Reinsurance Group of America by 13.8% in the 1st quarter. Cetera Investment Advisers now owns 28,216 shares of the insurance provider’s stock valued at $5,556,000 after buying an additional 3,421 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its position in Reinsurance Group of America by 5,744.8% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 36,121 shares of the insurance provider’s stock worth $7,112,000 after buying an additional 35,503 shares during the period. Institutional investors own 95.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on RGA shares. Raymond James Financial lowered shares of Reinsurance Group of America from a “market perform” rating to an “underperform” rating in a research report on Friday, October 17th. Piper Sandler restated an “overweight” rating on shares of Reinsurance Group of America in a research report on Tuesday, October 7th. Morgan Stanley dropped their price objective on shares of Reinsurance Group of America from $210.00 to $195.00 and set an “equal weight” rating on the stock in a report on Monday, August 18th. Weiss Ratings reissued a “hold (c+)” rating on shares of Reinsurance Group of America in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company cut their price target on Reinsurance Group of America from $249.00 to $241.00 and set an “overweight” rating for the company in a report on Monday, August 4th. Seven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Reinsurance Group of America has a consensus rating of “Moderate Buy” and an average price target of $239.89.

Reinsurance Group of America Stock Up 1.5%

Shares of RGA opened at $186.83 on Wednesday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.47. The stock has a market cap of $12.28 billion, a price-to-earnings ratio of 16.22 and a beta of 0.62. Reinsurance Group of America, Incorporated has a 12 month low of $159.25 and a 12 month high of $233.81. The company has a 50-day moving average price of $189.95 and a two-hundred day moving average price of $194.01.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Thursday, October 30th. The insurance provider reported $6.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.80 by $0.57. Reinsurance Group of America had a net margin of 3.54% and a return on equity of 12.56%. The firm had revenue of $6.20 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same period last year, the firm posted $6.13 EPS. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. Equities analysts predict that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 11th will be issued a dividend of $0.93 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $3.72 dividend on an annualized basis and a yield of 2.0%. Reinsurance Group of America’s dividend payout ratio is currently 28.62%.

Reinsurance Group of America Company Profile

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.