Hillsdale Investment Management Inc. Invests $4.25 Million in Reinsurance Group of America, Incorporated $RGA

Key Points

• Hillsdale Investment Management opened a new position in Reinsurance Group of America, buying 20,800 shares worth about $4.25 million in the first quarter.
• RGA reported better-than-expected quarterly results, posting EPS of $6.97 versus estimates of $6.03, while revenue rose 23.5% year over year to $6.49 billion.
• Analysts remain generally positive on the stock, with a consensus “Moderate Buy” rating and an average price target of $255.50, even as the shares traded down 1.7% on the day.

Hillsdale Investment Management Inc. acquired a new position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 20,800 shares of the insurance provider's stock, valued at approximately $4,247,000.

Other large investors have also bought and sold shares of the company. State Street Corp raised its stake in Reinsurance Group of America by 2.8% during the third quarter. State Street Corp now owns 2,346,447 shares of the insurance provider's stock worth $450,823,000 after acquiring an additional 64,296 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of 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 worth $336,137,000 after acquiring an additional 987,014 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of 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 purchasing an additional 12,682 shares in the last quarter. Norges Bank acquired a new stake in shares of Reinsurance Group of America in the 4th quarter valued at approximately $173,767,000. Finally, Orion Porfolio Solutions LLC grew 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 during the last quarter. 95.11% of the stock is owned by institutional investors and hedge funds.

Reinsurance Group of America Trading Down 1.7%

NYSE RGA opened at $233.94 on Wednesday. The firm has a market capitalization of $15.33 billion, a PE ratio of 12.67 and a beta of 0.47. The business's 50-day moving average price is $212.43 and its two-hundred day moving average price is $208.99. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46. Reinsurance Group of America, Incorporated has a 12 month low of $165.52 and a 12 month high of $238.91.

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 EPS for the quarter, topping analysts' consensus estimates of $6.03 by $0.94. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.47 billion. During the same period in the previous year, the firm earned $5.66 earnings per share. The firm's quarterly revenue was up 23.5% on a year-over-year basis. On average, analysts expect that Reinsurance Group of America, Incorporated will post 26.86 EPS for the current year.

Reinsurance Group of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 19th were issued a dividend of $0.93 per share. The ex-dividend date was Tuesday, May 19th. This represents a $3.72 annualized dividend and a yield of 1.6%. Reinsurance Group of America's dividend payout ratio (DPR) is presently 20.15%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on RGA shares. UBS Group upped their price objective on shares of Reinsurance Group of America from $220.00 to $236.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 8th. Weiss Ratings restated a "buy (b)" rating on shares of Reinsurance Group of America in a research report on Wednesday, May 13th. JPMorgan Chase & Co. boosted 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 research note on Thursday, May 7th. Evercore reiterated an "outperform" rating and set a $267.00 price target on shares of Reinsurance Group of America in a report on Monday, May 18th. Finally, Wall Street Zen upgraded Reinsurance Group of America from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $255.50.

Insider Activity at Reinsurance Group of America

In other news, EVP Ronald Herrmann sold 7,000 shares of the stock in a transaction on Thursday, May 14th. The shares were 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 in the company, valued at $829,264.04. This represents a 64.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP John W. Hayden sold 414 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total transaction of $88,989.30. Following the sale, the executive vice president owned 20,949 shares of the company's stock, valued at approximately $4,502,987.55. This trade represents a 1.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.60% of the stock is currently owned by company 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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