Carnegie Investment Counsel Purchases Shares of 1,395 Reinsurance Group of America, Incorporated (NYSE:RGA)

Key Points

• Carnegie Investment Counsel acquired 1,395 shares of Reinsurance Group of America, valued at approximately $257,000, during the first quarter.
• Other institutional investors have also increased their stakes, with significant increases from firms like Wealth Enhancement Advisory Services (38.2%) and Asset Management One Co. (1,265.2%).
• Analysts have mixed ratings on RGA's stock, with a consensus rating of "Moderate Buy" and an average price target of $244.36.

Carnegie Investment Counsel purchased a new stake in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 1,395 shares of the insurance provider's stock, valued at approximately $257,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its stake in Reinsurance Group of America by 38.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,783 shares of the insurance provider's stock valued at $1,729,000 after buying an additional 2,428 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Reinsurance Group of America by 13.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,901 shares of the insurance provider's stock valued at $768,000 after acquiring an additional 452 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in Reinsurance Group of America by 164.3% in the first quarter. Golden State Wealth Management LLC now owns 148 shares of the insurance provider's stock valued at $29,000 after acquiring an additional 92 shares during the last quarter. Asset Management One Co. Ltd. lifted its stake in Reinsurance Group of America by 1,265.2% in the first quarter. Asset Management One Co. Ltd. now owns 6,553 shares of the insurance provider's stock valued at $1,290,000 after acquiring an additional 6,073 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Reinsurance Group of America by 7.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 171,402 shares of the insurance provider's stock valued at $33,984,000 after acquiring an additional 12,217 shares during the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RGA has been the subject of a number of research analyst reports. Morgan Stanley lifted their price target on Reinsurance Group of America from $209.00 to $210.00 and gave the stock an "equal weight" rating in a report on Monday, July 14th. Raymond James Financial reiterated a "market perform" rating on shares of Reinsurance Group of America in a report on Friday, May 23rd. Keefe, Bruyette & Woods upped their price objective on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. upped their price objective on shares of Reinsurance Group of America from $237.00 to $264.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Finally, UBS Group reiterated a "neutral" rating and issued a $216.00 price objective (down from $250.00) on shares of Reinsurance Group of America in a report on Wednesday, April 2nd. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Reinsurance Group of America has a consensus rating of "Moderate Buy" and an average price target of $244.36.

Reinsurance Group of America Trading Up 1.3%

RGA opened at $196.30 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.16 and a quick ratio of 0.16. Reinsurance Group of America, Incorporated has a fifty-two week low of $159.25 and a fifty-two week high of $233.81. The firm has a market capitalization of $12.97 billion, a PE ratio of 16.56 and a beta of 0.62. The company's 50-day moving average is $198.76 and its 200 day moving average is $199.59.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The insurance provider reported $5.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.33 by $0.33. The firm had revenue of $5.26 billion for the quarter, compared to the consensus estimate of $5.74 billion. Reinsurance Group of America had a net margin of 3.77% and a return on equity of 13.69%. The business's revenue for the quarter was down 17.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.02 EPS. As a group, research analysts predict that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend was Tuesday, May 13th. Reinsurance Group of America's payout ratio is 30.04%.

Reinsurance Group of America Company Profile

Reinsurance Group of America, Incorporated engages in reinsurance business. The company offers individual and group life and health insurance products, such as term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products; asset-intensive and financial reinsurance products; and other capital motivated solutions.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.