Northwestern Mutual Wealth Management Co. Has $10.37 Million Stock Position in Reinsurance Group of America, Incorporated $RGA

Key Points

• Northwestern Mutual Wealth Management dramatically boosted its stake in Reinsurance Group of America, increasing its holdings by 8,703.8% in the fourth quarter to 50,974 shares valued at about $10.37 million.
• RGA reported strong quarterly results, with EPS of $6.97 beating estimates and revenue of $6.49 billion, up 23.5% year over year. The company also declared a quarterly dividend of $0.93 per share, implying a 1.7% yield.
• Analysts remain generally positive on the stock, with a Moderate Buy consensus and a target price of $251.25. Meanwhile, EVP Ronald Herrmann sold 7,000 shares in a recent insider transaction.

Northwestern Mutual Wealth Management Co. grew its position in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 8,703.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 50,974 shares of the insurance provider's stock after buying an additional 50,395 shares during the period. Northwestern Mutual Wealth Management Co. owned 0.08% of Reinsurance Group of America worth $10,371,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nordea Investment Management AB increased its stake in shares of Reinsurance Group of America by 3.8% in the 4th quarter. Nordea Investment Management AB now owns 570,631 shares of the insurance provider's stock valued at $116,597,000 after buying an additional 20,722 shares during the period. ProShare Advisors LLC increased its stake in shares of Reinsurance Group of America by 3.2% in the 3rd quarter. ProShare Advisors LLC now owns 182,162 shares of the insurance provider's stock valued at $34,999,000 after buying an additional 5,586 shares during the period. Nuance Investments LLC increased its stake in shares of Reinsurance Group of America by 30.6% in the 3rd quarter. Nuance Investments LLC now owns 47,334 shares of the insurance provider's stock valued at $9,094,000 after buying an additional 11,095 shares during the period. Y Intercept Hong Kong Ltd increased its stake in shares of Reinsurance Group of America by 94.1% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 18,504 shares of the insurance provider's stock valued at $3,555,000 after buying an additional 8,971 shares during the period. Finally, Algebris UK Ltd. acquired a new stake in shares of Reinsurance Group of America in the 3rd quarter valued at $10,750,000. 95.11% of the stock is owned by institutional investors and hedge funds.

Reinsurance Group of America Stock Up 0.5%

NYSE:RGA opened at $215.25 on Friday. 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 quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $14.10 billion, a P/E ratio of 11.66 and a beta of 0.50. The stock's fifty day simple moving average is $207.52 and its 200-day simple moving average is $203.79.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The insurance provider reported $6.97 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.47 billion. During the same period last year, the company earned $5.66 EPS. The firm's revenue was up 23.5% on a year-over-year basis. Equities research analysts expect that Reinsurance Group of America, Incorporated will post 26.54 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 19th will be issued a dividend of $0.93 per share. The ex-dividend date is Tuesday, May 19th. This represents a $3.72 annualized dividend and a yield of 1.7%. Reinsurance Group of America's payout ratio is currently 20.15%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Weiss Ratings reissued a "buy (b)" rating on shares of Reinsurance Group of America in a research note on Wednesday, May 13th. Wells Fargo & Company raised their price target on Reinsurance Group of America from $238.00 to $261.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 25th. JPMorgan Chase & Co. raised their price target on Reinsurance Group of America from $264.00 to $270.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. TD Cowen restated a "hold" rating on shares of Reinsurance Group of America in a research report on Wednesday, January 28th. Finally, Morgan Stanley raised their price target on 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. Seven equities research 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 data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $251.25.

Insiders Place Their Bets

In other Reinsurance Group of America news, EVP Ronald Herrmann sold 7,000 shares of Reinsurance Group of America 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 transaction, the executive vice president directly owned 3,938 shares in the company, valued at approximately $829,264.04. The trade was a 64.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.60% of the company's stock.

Reinsurance Group of America Company 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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