Nordea Investment Management AB Grows Stock Holdings in Reinsurance Group of America, Incorporated $RGA

Key Points

• Nordea Investment Management AB significantly increased its stake in Reinsurance Group of America by 534.1%, owning approximately 0.86% of the company's shares worth $112.8 million by the end of the second quarter.
• The company's recent earnings report showed a miss on analyst expectations, reporting $4.72 earnings per share against a forecast of $5.58, though revenue was up 14.8% year-over-year.
• Reinsurance Group of America recently raised its quarterly dividend to $0.93 per share, reflecting a positive adjustment from the previous dividend of $0.89, with an annualized yield of 2.0%.

Nordea Investment Management AB lifted its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 534.1% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 570,386 shares of the insurance provider's stock after buying an additional 480,435 shares during the quarter. Nordea Investment Management AB owned approximately 0.86% of Reinsurance Group of America worth $112,828,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Alpine Bank Wealth Management purchased a new stake in Reinsurance Group of America in the 1st quarter worth $28,000. Golden State Wealth Management LLC lifted its stake in Reinsurance Group of America by 164.3% in the 1st quarter. Golden State Wealth Management LLC now owns 148 shares of the insurance provider's stock worth $29,000 after purchasing an additional 92 shares in the last quarter. Cornerstone Planning Group LLC lifted its stake in Reinsurance Group of America by 224.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 175 shares of the insurance provider's stock worth $33,000 after purchasing an additional 121 shares in the last quarter. TCTC Holdings LLC lifted its stake in Reinsurance Group of America by 107.2% in the 1st quarter. TCTC Holdings LLC now owns 172 shares of the insurance provider's stock worth $34,000 after purchasing an additional 89 shares in the last quarter. Finally, Headlands Technologies LLC lifted its stake in Reinsurance Group of America by 357.1% in the 1st quarter. Headlands Technologies LLC now owns 224 shares of the insurance provider's stock worth $44,000 after purchasing an additional 175 shares in the last quarter. Hedge funds and other institutional investors own 95.11% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on RGA. Piper Sandler reiterated an "overweight" rating on shares of Reinsurance Group of America in a research note on Tuesday, October 7th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Reinsurance Group of America in a research note on Wednesday, October 8th. Barclays reiterated an "overweight" rating and issued a $246.00 price target on shares of Reinsurance Group of America in a research note on Wednesday, October 8th. Raymond James Financial downgraded shares of Reinsurance Group of America from a "market perform" rating to an "underperform" rating in a report on Friday. Finally, Morgan Stanley reduced their target price on shares of Reinsurance Group of America from $210.00 to $195.00 and set an "equal weight" rating on the stock in a report on Monday, August 18th. Seven investment 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $241.56.

Reinsurance Group of America Stock Performance

Reinsurance Group of America stock opened at $187.77 on Friday. The company's 50-day moving average price is $191.66 and its 200-day moving average price is $193.10. Reinsurance Group of America, Incorporated has a twelve month low of $159.25 and a twelve month high of $233.81. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.47. The company has a market cap of $12.41 billion, a PE ratio of 16.30 and a beta of 0.60.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its earnings results on Thursday, July 31st. The insurance provider reported $4.72 earnings per share for the quarter, missing analysts' consensus estimates of $5.58 by ($0.86). The business had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.70 billion. Reinsurance Group of America had a return on equity of 12.56% and a net margin of 3.54%.The business's quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the firm earned $5.48 earnings per share. On average, equities research analysts forecast that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.0%. The ex-dividend date was Tuesday, August 12th. This is a positive change from Reinsurance Group of America's previous quarterly dividend of $0.89. Reinsurance Group of America's payout ratio is currently 32.29%.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated engages in reinsurance business. The company offers individual and group life and health insurance products, such as term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products; asset-intensive and financial reinsurance products; and other capital motivated solutions.

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