Islay Capital Management LLC raised its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA – Free Report) by 3,921.3% during the 3rd quarter, Holdings Channel reports. The fund owned 3,016 shares of the insurance provider’s stock after purchasing an additional 2,941 shares during the period. Islay Capital Management LLC’s holdings in Reinsurance Group of America were worth $743,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of RGA. Whipplewood Advisors LLC raised its position in shares of Reinsurance Group of America by 4,400.0% during the 1st quarter. Whipplewood Advisors LLC now owns 225 shares of the insurance provider’s stock valued at $46,000 after buying an additional 220 shares in the last quarter. Millstone Evans Group LLC lifted its holdings in shares of Reinsurance Group of America by 77.0% in the 1st quarter. Millstone Evans Group LLC now owns 239 shares of the insurance provider’s stock worth $49,000 after acquiring an additional 104 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Reinsurance Group of America during the 4th quarter worth about $53,000. Kelly Lawrence W & Associates Inc. CA bought a new position in Reinsurance Group of America during the 2nd quarter valued at about $53,000. Finally, Cedar Mountain Advisors LLC bought a new stake in Reinsurance Group of America in the first quarter worth about $57,000. Institutional investors own 95.11% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on RGA. Weiss Ratings reiterated a “buy (b)” rating on shares of Reinsurance Group of America in a research note on Friday, August 7th. TD Cowen increased their price objective on Reinsurance Group of America from $212.00 to $235.00 and gave the stock a “hold” rating in a research note on Wednesday, July 22nd. UBS Group upgraded Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. Wells Fargo & Company boosted their price target on shares of Reinsurance Group of America from $291.00 to $292.00 and gave the company an “overweight” rating in a report on Monday, October 12th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Reinsurance Group of America from $293.00 to $297.00 and gave the company an “overweight” rating in a report on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Reinsurance Group of America has a consensus rating of “Buy” and a consensus target price of $268.33.
View Our Latest Analysis on RGA
Reinsurance Group of America Stock Performance
Shares of RGA traded up $1.81 during trading hours on Tuesday, reaching $268.61. 85,859 shares of the company traded hands, compared to its average volume of 373,703. The business has a fifty day moving average price of $249.80 and a 200-day moving average price of $228.46. Reinsurance Group of America, Incorporated has a 12-month low of $178.21 and a 12-month high of $270.32. 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 stock has a market capitalization of $17.54 billion, a P/E ratio of 11.80 and a beta of 0.45.
Reinsurance Group of America (NYSE:RGA – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The insurance provider reported $8.89 EPS for the quarter, beating the consensus estimate of $6.50 by $2.39. The business had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.67 billion. Reinsurance Group of America had a net margin of 5.81% and a return on equity of 14.78%. The business’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same period in the previous year, the business posted $4.72 EPS. Equities analysts anticipate that Reinsurance Group of America, Incorporated will post 29.75 EPS for the current fiscal year.
Reinsurance Group of America Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th were issued a dividend of $0.98 per share. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $3.92 annualized dividend and a dividend yield of 1.5%. Reinsurance Group of America’s payout ratio is presently 17.22%.
Insider Activity
In other Reinsurance Group of America news, EVP Jonathan Porter sold 8,589 shares of Reinsurance Group of America stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $246.30, for a total value of $2,115,470.70. Following the completion of the transaction, the executive vice president owned 14,885 shares of the company’s stock, valued at approximately $3,666,175.50. The trade was a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.60% of the stock is currently owned by corporate insiders.
Reinsurance Group of America Company 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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