Reinsurance Group of America, Incorporated $RGA Shares Bought by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP increased its RGA position by 26.8% in the second quarter, purchasing 5,331 additional shares for a total holding of 25,218 shares valued at approximately $5.36 million. Institutional investors collectively own 95.11% of the company.
• Analysts maintain a generally positive outlook, with RGA carrying a consensus “Moderate Buy” rating and an average price target of $262.56; several firms recently raised their targets, while UBS upgraded the stock to “strong buy.”
• RGA reported quarterly earnings of $8.89 per share, well above the $6.50 consensus estimate, while revenue rose 18.5% year over year to $6.64 billion. The company also raised its quarterly dividend to $0.98 per share, equating to a 1.6% annual yield.

Engineers Gate Manager LP lifted its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 26.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,218 shares of the insurance provider's stock after buying an additional 5,331 shares during the period. Engineers Gate Manager LP's holdings in Reinsurance Group of America were worth $5,363,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in RGA. Greenleaf Trust boosted its holdings in Reinsurance Group of America by 2.4% in the second quarter. Greenleaf Trust now owns 1,811 shares of the insurance provider's stock valued at $385,000 after acquiring an additional 42 shares during the last quarter. Principal Securities Inc. increased its stake in Reinsurance Group of America by 3.6% during the fourth quarter. Principal Securities Inc. now owns 1,490 shares of the insurance provider's stock worth $303,000 after acquiring an additional 52 shares during the last quarter. Rehmann Capital Advisory Group raised its holdings in shares of Reinsurance Group of America by 1.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 4,281 shares of the insurance provider's stock worth $819,000 after purchasing an additional 54 shares during the period. CIBC Private Wealth Group LLC raised its holdings in shares of Reinsurance Group of America by 6.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 974 shares of the insurance provider's stock worth $198,000 after purchasing an additional 56 shares during the period. Finally, Covestor Ltd lifted its stake in shares of Reinsurance Group of America by 12.2% in the 4th quarter. Covestor Ltd now owns 533 shares of the insurance provider's stock valued at $108,000 after purchasing an additional 58 shares in the last quarter. 95.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on RGA shares. Wells Fargo & Company boosted their target price on Reinsurance Group of America from $269.00 to $291.00 and gave the stock an "overweight" rating in a report on Wednesday, August 19th. Morgan Stanley upped their price target on shares of Reinsurance Group of America from $223.00 to $250.00 and gave the stock an "equal weight" rating in a research report on Monday, August 24th. UBS Group upgraded Reinsurance Group of America from a "hold" rating to a "strong-buy" rating in a report on Friday, July 24th. Weiss Ratings reiterated a "buy (b)" rating on shares of Reinsurance Group of America in a report on Friday, August 7th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Reinsurance Group of America from $286.00 to $293.00 and gave the stock an "overweight" rating in a report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $262.56.

Insider Buying and Selling at Reinsurance Group of America

In related news, EVP Jonathan Porter sold 8,589 shares of the firm's stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $246.30, for a total value of $2,115,470.70. Following the sale, the executive vice president owned 14,885 shares of the company's stock, valued at approximately $3,666,175.50. This trade represents a 36.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.60% of the company's stock.

Reinsurance Group of America Stock Performance

Reinsurance Group of America stock opened at $248.74 on Friday. The company has a market cap of $16.24 billion, a PE ratio of 10.92 and a beta of 0.47. The company has a fifty day moving average price of $241.64 and a two-hundred day moving average price of $220.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.14 and a quick ratio of 0.14. Reinsurance Group of America, Incorporated has a 12 month low of $178.21 and a 12 month high of $257.81.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its earnings results on Thursday, August 6th. The insurance provider reported $8.89 earnings per share for the quarter, topping analysts' consensus estimates of $6.50 by $2.39. Reinsurance Group of America had a net margin of 5.81% and a return on equity of 14.78%. The company had revenue of $6.64 billion for the quarter, compared to analysts' expectations of $6.67 billion. During the same period in the prior year, the company earned $4.72 earnings per share. The firm's revenue was up 18.5% compared to the same quarter last year. Research analysts expect that Reinsurance Group of America, Incorporated will post 29.68 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th were issued a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 1.6%. This is a boost from Reinsurance Group of America's previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Tuesday, August 18th. Reinsurance Group of America's dividend payout ratio is currently 17.22%.

Reinsurance Group of America Profile

Reinsurance Group of America, Incorporated NYSE: RGA is a global provider of life and health reinsurance. The company helps insurance and financial services companies manage mortality, longevity, morbidity and other risks by assuming portions of their insurance obligations and providing capital and risk-management support.

RGA's business includes traditional life reinsurance, health reinsurance, longevity solutions and financial solutions. Its offerings support products such as life insurance, annuities, critical illness coverage, disability insurance and other health-related protection products.

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