Burney Co. Has $11.01 Million Stock Position in Reinsurance Group of America, Incorporated $RGA

Key Points

• Burney Co. trimmed its stake in RGA by 15.9% in the first quarter, selling 10,162 shares and leaving it with 53,932 shares valued at about $11.0 million.
• Reinsurance Group of America posted strong quarterly results, with EPS of $6.97 beating estimates and revenue of $6.49 billion, up 23.5% year over year.
• Analyst sentiment remains positive, with multiple firms reiterating or raising ratings and an average price target of $251.25, above the stock’s recent trading level.

Burney Co. reduced its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 15.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 53,932 shares of the insurance provider's stock after selling 10,162 shares during the quarter. Burney Co. owned about 0.08% of Reinsurance Group of America worth $11,011,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in RGA. AQR Capital Management LLC increased its stake in Reinsurance Group of America by 148.4% in the fourth 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. Norges Bank acquired a new position in shares of Reinsurance Group of America in the 4th quarter valued at $173,767,000. Orion Porfolio Solutions LLC raised its stake in Reinsurance Group of America by 6,076.4% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 602,503 shares of the insurance provider's stock worth $119,512,000 after buying an additional 592,748 shares during the period. Adage Capital Partners GP L.L.C. acquired a new stake in Reinsurance Group of America during the 2nd quarter worth $69,426,000. Finally, Balyasny Asset Management L.P. bought a new position in Reinsurance Group of America during the third quarter worth about $35,266,000. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Reinsurance Group of America

In other news, EVP John W. Hayden sold 414 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $214.95, for a total transaction of $88,989.30. Following the completion of the transaction, the executive vice president directly owned 20,949 shares in the company, valued at $4,502,987.55. This represents a 1.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Ronald Herrmann sold 7,000 shares of the firm's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $210.58, for a total value of $1,474,060.00. Following the completion of the transaction, the executive vice president owned 3,938 shares of the company's stock, valued at $829,264.04. The trade was a 64.00% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is currently owned by insiders.

Reinsurance Group of America Trading Up 1.4%

NYSE:RGA opened at $224.15 on Tuesday. The company has a market cap of $14.68 billion, a P/E ratio of 12.14 and a beta of 0.47. Reinsurance Group of America, Incorporated has a twelve month low of $165.52 and a twelve month high of $229.21. The business has a 50 day moving average price of $209.84 and a two-hundred day moving average price of $207.86. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.46.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The insurance provider reported $6.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.03 by $0.94. The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.47 billion. Reinsurance Group of America had a net margin of 4.92% and a return on equity of 13.16%. The firm's revenue was up 23.5% compared to the same quarter last year. During the same period last year, the company earned $5.66 earnings per share. As a group, analysts expect that Reinsurance Group of America, Incorporated will post 26.88 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th were given a $0.93 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $3.72 dividend on an annualized basis and a yield of 1.7%. Reinsurance Group of America's dividend payout ratio (DPR) is 20.15%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RGA. Evercore restated an "outperform" rating and issued a $267.00 price target on shares of Reinsurance Group of America in a report on Monday, May 18th. JPMorgan Chase & Co. raised their target price 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. Weiss Ratings restated a "buy (b)" rating on shares of Reinsurance Group of America in a report on Wednesday, May 13th. Wall Street Zen raised shares of Reinsurance Group of America from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Finally, Barclays increased their target price on Reinsurance Group of America from $256.00 to $268.00 and gave the stock an "overweight" rating in a report on Friday, May 8th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $251.25.

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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