16,593 Shares in Reinsurance Group of America, Incorporated $RGA Acquired by PEAK6 LLC

Key Points

• PEAK6 LLC has made a new investment in Reinsurance Group of America, acquiring 16,593 shares valued at approximately $3.27 million.
• Multiple analysts are optimistic about RGA's future, with seven offering a "Buy" rating and price targets ranging from $195 to $264.
• The company recently increased its quarterly dividend to $0.93 per share, reflecting a commitment to returning value to its shareholders.

PEAK6 LLC bought a new position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,593 shares of the insurance provider's stock, valued at approximately $3,267,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its position in Reinsurance Group of America by 38.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,783 shares of the insurance provider's stock worth $1,729,000 after buying an additional 2,428 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in shares of Reinsurance Group of America by 13.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,901 shares of the insurance provider's stock valued at $768,000 after purchasing an additional 452 shares during the last quarter. Golden State Wealth Management LLC grew its position in shares of Reinsurance Group of America by 164.3% in the first quarter. Golden State Wealth Management LLC now owns 148 shares of the insurance provider's stock valued at $29,000 after purchasing an additional 92 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in Reinsurance Group of America by 1,265.2% during the first quarter. Asset Management One Co. Ltd. now owns 6,553 shares of the insurance provider's stock worth $1,290,000 after purchasing an additional 6,073 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in Reinsurance Group of America by 7.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 171,402 shares of the insurance provider's stock worth $33,984,000 after purchasing an additional 12,217 shares during the period. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Reinsurance Group of America Stock Performance

Shares of NYSE RGA traded up $1.16 during trading hours on Friday, hitting $194.60. 303,349 shares of the stock were exchanged, compared to its average volume of 445,503. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.16 and a quick ratio of 0.16. The company's 50 day moving average is $192.51 and its 200 day moving average is $193.88. The firm has a market capitalization of $12.86 billion, a P/E ratio of 16.89 and a beta of 0.59. Reinsurance Group of America, Incorporated has a one year low of $159.25 and a one year high of $233.81.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The insurance provider reported $4.72 EPS for the quarter, missing analysts' consensus estimates of $5.58 by ($0.86). The business had revenue of $5.60 billion for 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%.Reinsurance Group of America's revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the business posted $5.48 earnings per share. On average, research analysts expect that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Reinsurance Group of America Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were given a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 1.9%. The ex-dividend date was Tuesday, August 12th. This is a boost from Reinsurance Group of America's previous quarterly dividend of $0.89. Reinsurance Group of America's dividend payout ratio is 32.29%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. lifted their price objective on shares of Reinsurance Group of America from $237.00 to $264.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Wells Fargo & Company cut their price objective on shares of Reinsurance Group of America from $249.00 to $241.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. Morgan Stanley dropped their price target on shares of Reinsurance Group of America from $210.00 to $195.00 and set an "equal weight" rating on the stock in a research report on Monday, August 18th. Finally, Raymond James Financial restated a "market perform" rating on shares of Reinsurance Group of America in a research report on Friday, May 23rd. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $242.27.

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.