Sequoia Financial Advisors LLC increased its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA – Free Report) by 77.6% during the second quarter, Holdings Channel reports. The institutional investor owned 11,716 shares of the insurance provider’s stock after purchasing an additional 5,118 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Reinsurance Group of America were worth $2,491,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RGA. Tidal Investments LLC raised its holdings in Reinsurance Group of America by 2.3% in the 2nd quarter. Tidal Investments LLC now owns 82,153 shares of the insurance provider’s stock valued at $17,470,000 after acquiring an additional 1,873 shares in the last quarter. Engineers Gate Manager LP grew its holdings in shares of Reinsurance Group of America by 26.8% during the 2nd quarter. Engineers Gate Manager LP now owns 25,218 shares of the insurance provider’s stock worth $5,363,000 after purchasing an additional 5,331 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Reinsurance Group of America during the second quarter valued at approximately $8,971,000. Baird Financial Group Inc. increased its position in shares of Reinsurance Group of America by 79.0% during the second quarter. Baird Financial Group Inc. now owns 5,065 shares of the insurance provider’s stock valued at $1,077,000 after purchasing an additional 2,236 shares during the period. Finally, Nykredit A S acquired a new position in shares of Reinsurance Group of America in the second quarter valued at $376,000. 95.11% of the stock is currently owned by institutional investors.
Reinsurance Group of America Price Performance
NYSE:RGA opened at $248.74 on Monday. The firm has a market cap of $16.24 billion, a PE ratio of 10.92 and a beta of 0.47. Reinsurance Group of America, Incorporated has a 12 month low of $178.21 and a 12 month high of $257.81. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.41. The company’s 50-day moving average price is $241.64 and its two-hundred day moving average price is $220.19.
Reinsurance Group of America Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th were given a dividend of $0.98 per share. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.93. The ex-dividend date was Tuesday, August 18th. This represents a $3.92 dividend on an annualized basis and a yield of 1.6%. Reinsurance Group of America’s dividend payout ratio is currently 17.22%.
Analyst Upgrades and Downgrades
Several research analysts recently commented on the company. Morgan Stanley raised their target price on Reinsurance Group of America from $223.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Monday, August 24th. UBS Group raised shares of Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. TD Cowen increased their price objective on shares of Reinsurance Group of America from $212.00 to $235.00 and gave the company a “hold” rating in a research note on Wednesday, July 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Reinsurance Group of America in a report on Friday, August 7th. Finally, Barclays raised their price objective on shares of Reinsurance Group of America from $278.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. One investment 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $262.56.
Check Out Our Latest Report on Reinsurance Group of America
Insiders Place Their Bets
In related news, EVP Jonathan Porter sold 8,589 shares of the firm’s stock in a transaction on 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 completion of the sale, the executive vice president directly owned 14,885 shares of the company’s stock, valued at $3,666,175.50. This trade represents a 36.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.60% of the stock is owned by corporate insiders.
About Reinsurance Group of America
Reinsurance Group of America, Incorporated (NYSE:RGA) is a global provider of life and health reinsurance. The company helps insurance and financial services companies manage mortality, longevity, morbidity and other risks by assuming portions of their insurance obligations and providing capital and risk-management support.
RGA’s business includes traditional life reinsurance, health reinsurance, longevity solutions and financial solutions. Its offerings support products such as life insurance, annuities, critical illness coverage, disability insurance and other health-related protection products.
Further Reading
- Five stocks we like better than Reinsurance Group of America
- Why Bitcoin ETFs May Be Worth Another Look as Inflows Rebound
- 3 Small-Cap Biotechs With Binary Catalysts on the Calendar
- Planet Labs Has Fallen Back to Earth, But Wall Street Still Sees a Rebound
- As Homeowners’ Premiums Surge, This Insurer Is Posting Record Profits
Want to see what other hedge funds are holding RGA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Reinsurance Group of America, Incorporated (NYSE:RGA – Free Report).
Receive News & Ratings for Reinsurance Group of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reinsurance Group of America and related companies with MarketBeat.com's FREE daily email newsletter.
