Quantinno Capital Management LP Boosts Stake in Reinsurance Group of America, Incorporated $RGA

Key Points

• Quantinno Capital Management more than doubled its RGA stake to 95,172 shares during the first quarter, worth approximately $19.4 million. Institutional investors collectively own 95.11% of the company.
• RGA reported quarterly EPS of $6.97, beating estimates by $0.94, while revenue rose 23.5% year over year to $6.49 billion. The company also declared a quarterly dividend of $0.93 per share, representing a 1.6% annualized yield.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and a $255 average price target; recent targets range as high as $286. RGA shares opened at $237.47, near their 52-week high of $245.00.

Quantinno Capital Management LP raised its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 104.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 95,172 shares of the insurance provider's stock after acquiring an additional 48,661 shares during the quarter. Quantinno Capital Management LP owned approximately 0.15% of Reinsurance Group of America worth $19,430,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in RGA. Activest Wealth Management bought a new stake in Reinsurance Group of America during the fourth quarter valued at about $30,000. Tobam raised its holdings in Reinsurance Group of America by 244.7% in the fourth quarter. Tobam now owns 162 shares of the insurance provider's stock worth $33,000 after purchasing an additional 115 shares in the last quarter. International Assets Investment Management LLC bought a new position in Reinsurance Group of America in the fourth quarter worth about $35,000. Advisory Services Network LLC purchased a new stake in shares of Reinsurance Group of America during the third quarter valued at about $38,000. Finally, Entrust Financial LLC purchased a new stake in shares of Reinsurance Group of America during the fourth quarter valued at about $40,000. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Reinsurance Group of America Price Performance

Shares of RGA stock opened at $237.47 on Friday. Reinsurance Group of America, Incorporated has a fifty-two week low of $165.52 and a fifty-two week high of $245.00. The firm has a market capitalization of $15.56 billion, a price-to-earnings ratio of 12.86 and a beta of 0.47. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.14 and a current ratio of 0.14. The stock's 50-day simple moving average is $219.32 and its 200-day simple moving average is $212.11.

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 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.03 by $0.94. The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.47 billion. Reinsurance Group of America had a net margin of 4.92% and a return on equity of 13.16%. The company's revenue for the quarter was up 23.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.66 earnings per share. As a group, equities analysts forecast that Reinsurance Group of America, Incorporated will post 26.84 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

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

Analysts Set New Price Targets

RGA has been the topic of a number of analyst reports. Evercore reaffirmed an "outperform" rating and issued a $267.00 price objective on shares of Reinsurance Group of America in a research report on Monday, May 18th. TD Cowen increased their target price on shares of Reinsurance Group of America from $212.00 to $235.00 and gave the company a "hold" rating in a research report on Wednesday, July 22nd. Piper Sandler lowered their target price on shares of Reinsurance Group of America from $263.00 to $261.00 and set an "overweight" rating for the company in a research note on Monday, May 11th. Barclays lifted their price target on shares of Reinsurance Group of America from $268.00 to $278.00 and gave the stock an "overweight" rating in a report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. upped their price target on Reinsurance Group of America from $270.00 to $286.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $255.00.

Insiders Place Their Bets

In other Reinsurance Group of America news, EVP Ronald Herrmann sold 7,000 shares of the firm's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $210.58, for a total value of $1,474,060.00. Following the completion of the transaction, the executive vice president owned 3,938 shares of the company's stock, valued at approximately $829,264.04. This trade represents a 64.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John W. Hayden sold 414 shares of Reinsurance Group of America 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 $4,502,987.55. The trade was a 1.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.60% of the company's stock.

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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