AXQ Capital LP purchased a new position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 7,323 shares of the insurance provider's stock, valued at approximately $1,557,000.
A number of other institutional investors also recently modified their holdings of the business. Tobam increased its position in shares of Reinsurance Group of America by 244.7% in the fourth quarter. Tobam now owns 162 shares of the insurance provider's stock worth $33,000 after purchasing an additional 115 shares during the period. International Assets Investment Management LLC bought a new position in Reinsurance Group of America during the 4th quarter worth $35,000. Advisory Services Network LLC bought a new stake in shares of Reinsurance Group of America in the 3rd quarter valued at $38,000. Entrust Financial LLC bought a new position in shares of Reinsurance Group of America in the 4th quarter worth about $40,000. Finally, Measured Wealth Private Client Group LLC acquired a new stake in Reinsurance Group of America in the third quarter worth $44,000. Institutional investors own 95.11% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on RGA shares. Wells Fargo & Company raised their price objective on shares of Reinsurance Group of America from $269.00 to $291.00 and gave the company an "overweight" rating in a research note on Wednesday, August 19th. Weiss Ratings reiterated a "buy (b)" rating on shares of Reinsurance Group of America in a research report on Friday, August 7th. Evercore reiterated an "outperform" rating and issued a $267.00 target price on shares of Reinsurance Group of America in a research note on Monday, May 18th. JPMorgan Chase & Co. raised their price objective on Reinsurance Group of America from $286.00 to $293.00 and gave the company an "overweight" rating in a report on Tuesday, August 11th. Finally, TD Cowen upped their price target on shares of Reinsurance Group of America from $212.00 to $235.00 and gave the company a "hold" rating in a report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $262.56.
Read Our Latest Analysis on RGA
Insiders Place Their Bets
In other Reinsurance Group of America news, EVP Jonathan Porter sold 8,589 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.60% of the stock is owned by insiders.
Reinsurance Group of America Stock Performance
Shares of RGA opened at $253.09 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.14 and a quick ratio of 0.14. Reinsurance Group of America, Incorporated has a one year low of $178.21 and a one year high of $257.81. The firm has a market capitalization of $16.53 billion, a P/E ratio of 11.12 and a beta of 0.47. The business has a fifty day moving average of $238.49 and a 200 day moving average of $219.25.
Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The insurance provider reported $8.89 EPS for the quarter, topping the consensus estimate of $6.50 by $2.39. The firm had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.67 billion. Reinsurance Group of America had a return on equity of 14.78% and a net margin of 5.81%.Reinsurance Group of America's revenue was up 18.5% on a year-over-year basis. During the same period in the prior year, the business posted $4.72 EPS. As a group, sell-side analysts anticipate that Reinsurance Group of America, Incorporated will post 29.22 EPS for the current year.
Reinsurance Group of America Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th were given a $0.98 dividend. The ex-dividend date was Tuesday, August 18th. This is a positive change from Reinsurance Group of America's previous quarterly dividend of $0.93. This represents a $3.92 annualized dividend and a dividend yield of 1.5%. Reinsurance Group of America's dividend payout ratio (DPR) is presently 17.22%.
Reinsurance Group of America Company Profile
(
Free Report)
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.
Further Reading
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