Corient Private Wealth LP Increases Stock Holdings in Reinsurance Group of America, Incorporated $RGA

Key Points

• Corient Private Wealth increased its RGA position by 195.4% in the second quarter, owning 106,412 shares valued at approximately $22.6 million. Institutional investors collectively own 95.11% of the insurer.
• RGA reported quarterly EPS of $8.89, beating estimates of $6.50, while revenue rose 18.5% year over year to $6.64 billion. The company also raised its quarterly dividend from $0.93 to $0.98 per share.
• Wall Street’s outlook remains favorable, with an overall “Moderate Buy” consensus and an average price target of $262.56; several firms recently raised their targets to between $290 and $293.

Corient Private Wealth LP raised its position in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 195.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,412 shares of the insurance provider's stock after acquiring an additional 70,385 shares during the quarter. Corient Private Wealth LP owned approximately 0.16% of Reinsurance Group of America worth $22,629,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. California State Teachers Retirement System grew its holdings in shares of Reinsurance Group of America by 21,340.7% in the second quarter. California State Teachers Retirement System now owns 16,194,573 shares of the insurance provider's stock valued at $3,443,776,000 after purchasing an additional 16,119,041 shares in the last quarter. WCM Investment Management LLC lifted its holdings in Reinsurance Group of America by 3.0% during the 1st quarter. WCM Investment Management LLC now owns 2,830,620 shares of the insurance provider's stock worth $566,803,000 after buying an additional 82,681 shares in the last quarter. State Street Corp lifted its holdings in Reinsurance Group of America by 2.8% during the 3rd quarter. State Street Corp now owns 2,346,447 shares of the insurance provider's stock worth $450,823,000 after buying an additional 64,296 shares in the last quarter. AQR Capital Management LLC boosted its position in Reinsurance Group of America by 148.4% in the 4th quarter. AQR Capital Management LLC now owns 1,652,102 shares of the insurance provider's stock valued at $336,137,000 after buying an additional 987,014 shares during the period. Finally, Geode Capital Management LLC boosted its position in Reinsurance Group of America by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 1,341,364 shares of the insurance provider's stock valued at $272,966,000 after buying an additional 12,682 shares during the period. Institutional investors and hedge funds own 95.11% of the company's stock.

Reinsurance Group of America Stock Up 0.0%

Shares of NYSE:RGA opened at $248.74 on Monday. The firm has a 50 day simple moving average of $241.64 and a 200-day simple moving average of $220.19. Reinsurance Group of America, Incorporated has a twelve month low of $178.21 and a twelve month high of $257.81. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $16.24 billion, a PE ratio of 10.92 and a beta of 0.47.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its earnings results on Thursday, August 6th. The insurance provider reported $8.89 EPS for the quarter, beating analysts' consensus estimates of $6.50 by $2.39. Reinsurance Group of America had a net margin of 5.81% and a return on equity of 14.78%. The firm had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.67 billion. During the same period last year, the firm posted $4.72 EPS. The company's revenue was up 18.5% on a year-over-year basis. On average, equities analysts predict that Reinsurance Group of America, Incorporated will post 29.68 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. Investors of record on Tuesday, August 18th were given a $0.98 dividend. This is a boost 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 dividend on an annualized basis and a dividend yield of 1.6%. Reinsurance Group of America's payout ratio is currently 17.22%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RGA. Wells Fargo & Company upped their price objective on Reinsurance Group of America from $269.00 to $291.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 19th. TD Cowen upped their price target on Reinsurance Group of America from $212.00 to $235.00 and gave the stock a "hold" rating in a report on Wednesday, July 22nd. JPMorgan Chase & Co. increased their price target on Reinsurance Group of America from $286.00 to $293.00 and gave the company an "overweight" rating in a research report on Tuesday, August 11th. Barclays lifted their price objective on Reinsurance Group of America from $278.00 to $290.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Finally, UBS Group upgraded shares of Reinsurance Group of America from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 24th. One research 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 presently has an average rating of "Moderate Buy" and a consensus target price of $262.56.

Insider Transactions at Reinsurance Group of America

In related news, EVP Jonathan Porter sold 8,589 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president owned 14,885 shares in the company, valued at $3,666,175.50. This trade represents a 36.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.60% of the stock is 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 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.

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