Reinsurance Group of America, Incorporated $RGA Shares Newly Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management acquired 125,597 RGA shares worth approximately $30.9 million, while institutional investors collectively own 95.11% of the company.
• Analysts remain bullish: RGA has a consensus “Buy” rating and an average price target of $268.33, with several firms recently raising targets to roughly $292–$297.
• RGA exceeded quarterly earnings expectations, reporting $8.89 in EPS versus the $6.50 consensus estimate, while revenue rose 18.5% year over year; the company also increased its quarterly dividend to $0.98 per share.

Assenagon Asset Management S.A. bought a new stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The fund bought 125,597 shares of the insurance provider's stock, valued at approximately $30,927,000. Assenagon Asset Management S.A. owned approximately 0.19% of Reinsurance Group of America as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RGA. Curated Wealth Partners LLC acquired a new position in shares of Reinsurance Group of America in the 3rd quarter worth approximately $465,000. Mather Group LLC. boosted its stake in Reinsurance Group of America by 8.5% in the third quarter. Mather Group LLC. now owns 1,248 shares of the insurance provider's stock worth $307,000 after purchasing an additional 98 shares in the last quarter. Fortitude Family Office LLC lifted its position in Reinsurance Group of America by 62.7% during the 3rd quarter. Fortitude Family Office LLC now owns 249 shares of the insurance provider's stock worth $61,000 after buying an additional 96 shares in the last quarter. Copeland Capital Management LLC acquired a new position in shares of Reinsurance Group of America during the third quarter worth approximately $489,000. Finally, Krilogy Financial LLC increased its holdings in shares of Reinsurance Group of America by 9.0% in the third quarter. Krilogy Financial LLC now owns 2,871 shares of the insurance provider's stock valued at $746,000 after purchasing an additional 236 shares in the last quarter. Institutional investors own 95.11% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on RGA. JPMorgan Chase & Co. boosted their price objective on shares of Reinsurance Group of America from $293.00 to $297.00 and gave the stock an "overweight" rating in a research report on Thursday. UBS Group upgraded Reinsurance Group of America from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 24th. Wells Fargo & Company raised their price target on Reinsurance Group of America from $291.00 to $292.00 and gave the company an "overweight" rating in a report on Monday, October 12th. Morgan Stanley raised shares of Reinsurance Group of America from an "equal weight" rating to an "overweight" rating and set a $295.00 target price on the stock in a research note on Monday, September 28th. Finally, Barclays set a $292.00 price target on shares of Reinsurance Group of America in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $268.33.

Insider Activity

In related news, EVP Jonathan Porter sold 8,589 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $246.30, for a total transaction of $2,115,470.70. Following the completion of the sale, the executive vice president directly owned 14,885 shares of the company's stock, valued at approximately $3,666,175.50. This represents a 36.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.60% of the company's stock.

Reinsurance Group of America Stock Performance

Shares of NYSE:RGA opened at $266.15 on Friday. The company has a market capitalization of $17.38 billion, a price-to-earnings ratio of 11.69 and a beta of 0.45. The firm's 50 day simple moving average is $249.31 and its 200 day simple moving average is $227.83. 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 fifty-two week low of $178.21 and a fifty-two week high of $267.46.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The insurance provider reported $8.89 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.67 billion. During the same quarter last year, the firm earned $4.72 EPS. Reinsurance Group of America's quarterly revenue was up 18.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Reinsurance Group of America, Incorporated will post 29.75 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The firm also recently disclosed 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 is a boost from Reinsurance Group of America's previous quarterly dividend of $0.93. The ex-dividend date was Tuesday, August 18th. This represents a $3.92 annualized dividend and a dividend yield of 1.5%. Reinsurance Group of America's dividend payout ratio (DPR) is presently 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 organizations manage mortality, longevity, morbidity and other insurance risks by assuming portions of their business and providing capital, risk-management expertise and specialized underwriting support.

RGA offers traditional reinsurance and financial solutions for individual life insurance, group life and health coverage, retirement and annuity products, long-term care and disability insurance.

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