Y Intercept Hong Kong Ltd grew its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA – Free Report) by 126.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,880 shares of the insurance provider’s stock after purchasing an additional 23,376 shares during the quarter. Y Intercept Hong Kong Ltd owned about 0.06% of Reinsurance Group of America worth $8,521,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Quadrant Capital Group LLC boosted its position in Reinsurance Group of America by 15.3% during the fourth quarter. Quadrant Capital Group LLC now owns 6,605 shares of the insurance provider’s stock worth $1,344,000 after purchasing an additional 877 shares during the period. Federation des caisses Desjardins du Quebec lifted its holdings in shares of Reinsurance Group of America by 16.1% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 5,284 shares of the insurance provider’s stock worth $1,075,000 after buying an additional 734 shares in the last quarter. Brooklyn Investment Group lifted its holdings in shares of Reinsurance Group of America by 35.0% in the fourth quarter. Brooklyn Investment Group now owns 2,863 shares of the insurance provider’s stock worth $587,000 after buying an additional 742 shares in the last quarter. Orion Porfolio Solutions LLC purchased a new stake in shares of Reinsurance Group of America in the fourth quarter worth about $224,000. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Reinsurance Group of America by 53.3% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 407,888 shares of the insurance provider’s stock worth $82,989,000 after buying an additional 141,757 shares in the last quarter. Institutional investors own 95.11% of the company’s stock.
Wall Street Analyst Weigh In
RGA has been the topic of a number of recent analyst reports. Morgan Stanley increased their price target on shares of Reinsurance Group of America from $208.00 to $223.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 3rd. UBS Group increased their price target on shares of Reinsurance Group of America from $216.00 to $220.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. JPMorgan Chase & Co. increased their price target on shares of Reinsurance Group of America from $264.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Wall Street Zen raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Evercore reissued an “outperform” rating and issued a $267.00 price target on shares of Reinsurance Group of America in a report on Monday, May 18th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $251.25.
Insider Activity at Reinsurance Group of America
In other Reinsurance Group of America news, EVP Ronald Herrmann sold 7,000 shares of Reinsurance Group of America stock in a transaction that occurred on 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 directly owned 3,938 shares in the company, valued at $829,264.04. The trade was a 64.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John W. Hayden sold 414 shares of Reinsurance Group of America stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $214.95, for a total transaction of $88,989.30. Following the sale, the executive vice president owned 20,949 shares of the company’s stock, valued at approximately $4,502,987.55. The trade was a 1.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.60% of the company’s stock.
Reinsurance Group of America Trading Up 2.2%
Shares of Reinsurance Group of America stock opened at $210.63 on Friday. Reinsurance Group of America, Incorporated has a 1 year low of $165.52 and a 1 year high of $229.21. The firm has a market cap of $13.80 billion, a PE ratio of 11.41 and a beta of 0.47. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.14 and a quick ratio of 0.14. The company has a 50 day simple moving average of $208.20 and a two-hundred day simple moving average of $205.62.
Reinsurance Group of America (NYSE:RGA – Get Free Report) last announced its earnings results on Thursday, May 7th. The insurance provider reported $6.97 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $6.47 billion. During the same period in the previous year, the business posted $5.66 earnings per share. Reinsurance Group of America’s revenue for the quarter was up 23.5% on a year-over-year basis. Analysts expect that Reinsurance Group of America, Incorporated will post 26.88 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. Shareholders of record on Tuesday, May 19th were given a dividend of $0.93 per share. The ex-dividend date was Tuesday, May 19th. This represents a $3.72 annualized dividend and a yield of 1.8%. Reinsurance Group of America’s payout ratio is presently 20.15%.
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.
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