Fifth Third Bancorp Has $9.90 Million Stake in Reinsurance Group of America, Incorporated $RGA

Key Points

• Fifth Third Bancorp boosted its stake in Reinsurance Group of America by 126.9% in the first quarter, ending with 48,486 shares valued at about $9.9 million.
• Analyst sentiment remains constructive: RGA has an average rating of “Moderate Buy”, with several firms raising price targets, including Barclays to $278 and Wells Fargo to $269.
• RGA reported solid quarterly results, beating EPS estimates at $6.97 per share and posting 23.5% revenue growth year over year, while also paying a quarterly dividend of $0.93 per share.

Fifth Third Bancorp increased its position in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 126.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 48,486 shares of the insurance provider's stock after buying an additional 27,115 shares during the period. Fifth Third Bancorp owned 0.07% of Reinsurance Group of America worth $9,899,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in Reinsurance Group of America by 2.8% in the third quarter. State Street Corp now owns 2,346,447 shares of the insurance provider's stock valued at $450,823,000 after acquiring an additional 64,296 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Reinsurance Group of America by 148.4% during the 4th quarter. AQR Capital Management LLC now owns 1,652,102 shares of the insurance provider's stock worth $336,137,000 after purchasing an additional 987,014 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Reinsurance Group of America by 1.0% during 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 purchasing an additional 12,682 shares in the last quarter. Norges Bank bought a new position in shares of Reinsurance Group of America during the 4th quarter valued at $173,767,000. Finally, Orion Porfolio Solutions LLC raised its holdings in shares of 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 valued at $119,512,000 after purchasing an additional 592,748 shares in the last quarter. Institutional investors own 95.11% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on RGA shares. Piper Sandler decreased their price objective on shares of Reinsurance Group of America from $263.00 to $261.00 and set an "overweight" rating for the company in a report on Monday, May 11th. Weiss Ratings restated a "buy (b)" rating on shares of Reinsurance Group of America in a report on Wednesday, May 13th. Evercore reaffirmed an "outperform" rating and issued a $267.00 price target on shares of Reinsurance Group of America in a research report on Monday, May 18th. Wells Fargo & Company upped their price target on Reinsurance Group of America from $261.00 to $269.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. Finally, Barclays increased their price objective on Reinsurance Group of America from $268.00 to $278.00 and gave the company an "overweight" rating in a report on Tuesday, July 7th. Seven investment 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. According to data from MarketBeat, Reinsurance Group of America presently has an average rating of "Moderate Buy" and a consensus price target of $255.50.

Reinsurance Group of America Stock Performance

NYSE:RGA opened at $234.37 on Thursday. The firm has a market capitalization of $15.35 billion, a PE ratio of 12.70 and a beta of 0.47. Reinsurance Group of America, Incorporated has a 1 year low of $165.52 and a 1 year high of $238.91. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46. The firm's fifty day simple moving average is $212.81 and its 200 day simple moving average is $209.18.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last released its earnings results on Thursday, May 7th. The insurance provider reported $6.97 earnings per share for the quarter, topping analysts' consensus estimates of $6.03 by $0.94. Reinsurance Group of America had a net margin of 4.92% and a return on equity of 13.16%. The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.47 billion. During the same quarter in the previous year, the business earned $5.66 EPS. The business's revenue was up 23.5% on a year-over-year basis. On average, sell-side analysts anticipate that Reinsurance Group of America, Incorporated will post 26.86 EPS for the current year.

Reinsurance Group of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th were given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, May 19th. Reinsurance Group of America's payout ratio is currently 20.15%.

Insider Activity

In other Reinsurance Group of America news, EVP John W. Hayden sold 414 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total value of $88,989.30. Following the sale, the executive vice president owned 20,949 shares of the company's stock, valued at $4,502,987.55. This trade represents a 1.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Ronald Herrmann sold 7,000 shares of Reinsurance Group of America stock in a transaction that occurred on Thursday, May 14th. The stock was 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 directly owned 3,938 shares in the company, valued at approximately $829,264.04. This represents a 64.00% decrease in their ownership of the stock. 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 Profile

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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