Assenagon Asset Management S.A. lessened its stake in Reinsurance Group of America, Incorporated (NYSE:RGA – Free Report) by 27.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,035 shares of the insurance provider’s stock after selling 29,896 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Reinsurance Group of America were worth $16,340,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. American Century Companies Inc. grew its position in Reinsurance Group of America by 15.9% during the third quarter. American Century Companies Inc. now owns 2,369,057 shares of the insurance provider’s stock worth $455,167,000 after buying an additional 324,239 shares during the period. State Street Corp increased its stake in Reinsurance Group of America by 2.8% in the 3rd quarter. State Street Corp now owns 2,346,447 shares of the insurance provider’s stock valued at $450,823,000 after purchasing an additional 64,296 shares in the last quarter. AQR Capital Management LLC increased its stake in Reinsurance Group of America by 148.4% in the 4th quarter. AQR Capital Management LLC now owns 1,652,102 shares of the insurance provider’s stock valued at $336,137,000 after purchasing an additional 987,014 shares in the last quarter. Geode Capital Management LLC raised its holdings in Reinsurance Group of America by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 1,341,364 shares of the insurance provider’s stock worth $272,966,000 after purchasing an additional 12,682 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Reinsurance Group of America by 4.7% during the third quarter. Dimensional Fund Advisors LP now owns 1,098,564 shares of the insurance provider’s stock worth $211,054,000 after purchasing an additional 49,323 shares during the last quarter. Institutional investors and hedge funds own 95.11% of the company’s stock.
Reinsurance Group of America Stock Up 3.3%
Shares of NYSE:RGA opened at $215.37 on Friday. 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 company has a market capitalization of $14.11 billion, a P/E ratio of 11.67 and a beta of 0.47. Reinsurance Group of America, Incorporated has a 52-week low of $165.52 and a 52-week high of $229.21. The stock’s fifty day simple moving average is $208.83 and its 200-day simple moving average is $206.99.
Reinsurance Group of America Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th were issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Tuesday, May 19th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 20.15%.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on RGA. Wall Street Zen raised Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. UBS Group lifted their price target on Reinsurance Group of America from $216.00 to $220.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Piper Sandler decreased their price objective on shares of Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Evercore reissued an “outperform” rating and issued a $267.00 price objective on shares of Reinsurance Group of America in a research note on Monday, May 18th. Finally, JPMorgan Chase & Co. raised their target price on shares of Reinsurance Group of America from $264.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $251.25.
Check Out Our Latest Stock Report on RGA
Insider Activity at Reinsurance Group of America
In other Reinsurance Group of America news, EVP John W. Hayden sold 414 shares of the firm’s 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 sale, the executive vice president directly owned 20,949 shares in the company, valued at approximately $4,502,987.55. This trade represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Ronald Herrmann sold 7,000 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president owned 3,938 shares of the company’s stock, valued at $829,264.04. This represents a 64.00% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is owned by insiders.
Reinsurance Group of America Company 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.
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