Geode Capital Management LLC Purchases 12,682 Shares of Reinsurance Group of America, Incorporated $RGA

Key Points

• Geode Capital Management increased its stake in Reinsurance Group of America by 1.0% in the fourth quarter, buying 12,682 more shares and bringing its total holding to 1,341,364 shares worth about $273 million.
• RGA posted stronger-than-expected quarterly results, reporting EPS of $6.97 versus estimates of $6.03 and revenue of $6.49 billion, with revenue up 23.5% year over year.
• Analysts remain broadly positive on the stock: several raised price targets recently, and MarketBeat shows a consensus rating of “Moderate Buy” with an average target price of $251.25.

Geode Capital Management LLC boosted its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 1.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,341,364 shares of the insurance provider's stock after acquiring an additional 12,682 shares during the period. Geode Capital Management LLC owned 2.04% of Reinsurance Group of America worth $272,966,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RGA. Activest Wealth Management bought a new stake in shares of Reinsurance Group of America during the fourth quarter valued at approximately $30,000. International Assets Investment Management LLC bought a new stake in shares of Reinsurance Group of America during the fourth quarter valued at approximately $35,000. Entrust Financial LLC bought a new stake in Reinsurance Group of America in the fourth quarter worth $40,000. Advisory Services Network LLC bought a new stake in Reinsurance Group of America in the third quarter worth $38,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in Reinsurance Group of America by 632.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 205 shares of the insurance provider's stock worth $42,000 after purchasing an additional 177 shares during the last quarter. Institutional investors own 95.11% of the company's stock.

Insiders Place Their Bets

In other news, EVP John W. Hayden sold 414 shares of the business's stock in a transaction on 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 sale, the executive vice president directly owned 20,949 shares of the company's stock, valued at approximately $4,502,987.55. The trade was a 1.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ronald Herrmann sold 7,000 shares of the company's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $210.58, for a total transaction of $1,474,060.00. Following the completion of the sale, the executive vice president directly owned 3,938 shares of the company's stock, valued at approximately $829,264.04. This trade represents a 64.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on RGA shares. Morgan Stanley boosted their price target on shares of Reinsurance Group of America from $208.00 to $223.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 3rd. Wall Street Zen raised shares of Reinsurance Group of America from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. JPMorgan Chase & Co. lifted their price objective on shares of Reinsurance Group of America from $264.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday, May 7th. Barclays lifted their price objective on shares of Reinsurance Group of America from $256.00 to $268.00 and gave the stock an "overweight" rating in a research note on Friday, May 8th. Finally, UBS Group lifted their price objective on shares of Reinsurance Group of America from $216.00 to $220.00 and gave the stock a "neutral" rating in a research note on Thursday, April 9th. Seven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $251.25.

Reinsurance Group of America Stock Down 1.0%

Shares of RGA opened at $198.68 on Tuesday. The firm has a market capitalization of $13.02 billion, a P/E ratio of 10.76 and a beta of 0.47. Reinsurance Group of America, Incorporated has a 12-month low of $165.52 and a 12-month high of $229.21. 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 has a fifty day moving average price of $208.06 and a 200-day moving average price of $204.78.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its earnings results 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 firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.47 billion. Reinsurance Group of America had a net margin of 4.92% and a return on equity of 13.16%. The business's revenue was up 23.5% on a year-over-year basis. During the same period in the previous year, the firm earned $5.66 earnings per share. Equities research analysts expect that Reinsurance Group of America, Incorporated will post 26.88 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 19th will be paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, May 19th. Reinsurance Group of America's payout ratio is currently 20.15%.

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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