Neo Ivy Capital Management Purchases New Position in Reinsurance Group of America, Incorporated $RGA

Key Points

• Neo Ivy Capital Management acquired a new position of 5,616 shares (~$1.08M) in Reinsurance Group of America in Q3, and institutional/hedge fund ownership now totals 95.11% with large recent moves by Norges Bank, Orion, Laurel Wealth, American Century and Adage.
• Analysts have been lifting ratings and targets—RGA's consensus rating is a "Moderate Buy" with an average price target of $247.75, following upgrades and target increases from firms including Wells Fargo, Morgan Stanley and Barclays.
• RGA beat estimates last quarter with $7.75 EPS (vs. $5.86 expected) and $6.64B revenue (up 26.6% YoY), and it declared a quarterly dividend of $0.93 (annualized $3.72, ~1.8% yield).

Neo Ivy Capital Management acquired a new position in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 5,616 shares of the insurance provider's stock, valued at approximately $1,079,000.

Several other hedge funds have also recently made changes to their positions in RGA. Norges Bank purchased a new stake in Reinsurance Group of America in the second quarter worth $167,955,000. Orion Porfolio Solutions LLC increased its position in 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 period. Laurel Wealth Advisors LLC raised its holdings in Reinsurance Group of America by 19,387.3% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 561,818 shares of the insurance provider's stock worth $111,442,000 after purchasing an additional 558,935 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Reinsurance Group of America by 35.2% in the 2nd quarter. American Century Companies Inc. now owns 2,044,818 shares of the insurance provider's stock worth $405,610,000 after purchasing an additional 532,891 shares during the period. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in shares of Reinsurance Group of America in the 2nd quarter worth about $69,426,000. 95.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RGA has been the subject of several research analyst reports. Morgan Stanley raised their price objective on shares of Reinsurance Group of America from $208.00 to $223.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 3rd. Wells Fargo & Company raised their target price on Reinsurance Group of America from $238.00 to $261.00 and gave the company an "overweight" rating in a research note on Wednesday, February 25th. Wall Street Zen upgraded Reinsurance Group of America from a "hold" rating to a "buy" rating in a research report on Saturday, February 7th. Barclays set a $245.00 price target on Reinsurance Group of America and gave the stock an "overweight" rating in a research note on Friday, February 6th. Finally, TD Cowen reissued a "hold" rating on shares of Reinsurance Group of America in a research report on Wednesday, January 28th. Seven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $247.75.

Reinsurance Group of America Price Performance

RGA stock opened at $207.59 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.14 and a current ratio of 0.14. The firm has a 50 day moving average price of $207.88 and a 200-day moving average price of $197.88. Reinsurance Group of America, Incorporated has a 52-week low of $159.25 and a 52-week high of $229.21. The firm has a market capitalization of $13.61 billion, a price-to-earnings ratio of 11.70 and a beta of 0.50.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its quarterly earnings results on Thursday, February 5th. The insurance provider reported $7.75 earnings per share for the quarter, topping the consensus estimate of $5.86 by $1.89. The company had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.25 billion. Reinsurance Group of America had a return on equity of 12.99% and a net margin of 4.99%.The firm's quarterly revenue was up 26.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.99 EPS. Equities research analysts forecast that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 3rd. Stockholders of record on Tuesday, February 17th were issued a dividend of $0.93 per share. The ex-dividend date was Tuesday, February 17th. This represents a $3.72 annualized dividend and a dividend yield of 1.8%. Reinsurance Group of America's dividend payout ratio (DPR) is presently 20.96%.

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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