Reinsurance Group of America, Incorporated $RGA Stake Lifted by Sterling Capital Management LLC

Key Points

• Sterling Capital Management increased its RGA stake by 253.9% during the third quarter, bringing its holdings to 11,690 shares valued at approximately $2.88 million. Institutional investors collectively own 95.11% of the company.
• Analysts maintain a favorable outlook, with a consensus “Buy” rating and an average price target of $270, compared with RGA’s reported opening price of $263.76.
• RGA reported quarterly earnings of $8.89 per share, beating estimates of $6.50, while revenue rose 18.5% year over year to $6.64 billion.

Sterling Capital Management LLC lifted its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 253.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 11,690 shares of the insurance provider's stock after acquiring an additional 8,387 shares during the quarter. Sterling Capital Management LLC's holdings in Reinsurance Group of America were worth $2,879,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Engineers Gate Manager LP grew its holdings in Reinsurance Group of America by 26.8% during the 2nd quarter. Engineers Gate Manager LP now owns 25,218 shares of the insurance provider's stock valued at $5,363,000 after buying an additional 5,331 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Reinsurance Group of America in the second quarter worth about $1,489,000. WCM Investment Management LLC boosted its position in shares of Reinsurance Group of America by 3.0% in the first quarter. WCM Investment Management LLC now owns 2,830,620 shares of the insurance provider's stock valued at $566,803,000 after acquiring an additional 82,681 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of Reinsurance Group of America by 77.6% in the second quarter. Sequoia Financial Advisors LLC now owns 11,716 shares of the insurance provider's stock valued at $2,491,000 after acquiring an additional 5,118 shares during the period. Finally, Principal Financial Group Inc. grew its stake in Reinsurance Group of America by 3.4% during the first quarter. Principal Financial Group Inc. now owns 149,514 shares of the insurance provider's stock valued at $30,525,000 after acquiring an additional 4,913 shares in the last quarter. Institutional investors own 95.11% of the company's stock.

Insiders Place Their Bets

In other Reinsurance Group of America news, EVP Jonathan Porter sold 8,589 shares of the company's stock in a transaction dated Wednesday, August 12th. The shares were 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 in the company, valued at $3,666,175.50. This represents a 36.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

RGA has been the subject of several research analyst reports. Weiss Ratings reissued a "buy (b)" rating on shares of Reinsurance Group of America in a research note on Friday, August 7th. Wells Fargo & Company boosted their price objective on Reinsurance Group of America from $291.00 to $292.00 and gave the stock an "overweight" rating in a report on Monday, October 12th. UBS Group upgraded shares of Reinsurance Group of America from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 24th. TD Cowen raised their target price on shares of Reinsurance Group of America from $235.00 to $250.00 and gave the company a "hold" rating in a research note on Wednesday, October 21st. Finally, Barclays set a $292.00 target price on shares of Reinsurance Group of America in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $270.00.

Reinsurance Group of America Price Performance

RGA opened at $263.76 on Monday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $17.22 billion, a P/E ratio of 11.58 and a beta of 0.45. The stock has a 50-day moving average price of $251.45 and a 200-day moving average price of $230.22. Reinsurance Group of America, Incorporated has a 12-month low of $178.21 and a 12-month high of $272.44.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The insurance provider reported $8.89 EPS 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 firm had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.67 billion. During the same period last year, the firm posted $4.72 earnings per share. The business's revenue was up 18.5% compared to the same quarter last year. Equities analysts predict that Reinsurance Group of America, Incorporated will post 29.78 earnings per share for the current fiscal year.

Reinsurance Group of America Profile

Reinsurance Group of America, Incorporated NYSE: RGA is a global provider of life and health reinsurance. The company works with insurance carriers to help them manage mortality, longevity, morbidity and other insurance risks, while supporting the development and distribution of life and health insurance products.

RGA's offerings include traditional life reinsurance, including term, whole life and universal life coverage, as well as health reinsurance and financial solutions. Its financial solutions business provides capital management, asset-intensive reinsurance, longevity and other risk-management arrangements designed to help insurers manage their balance sheets and meet changing customer and regulatory needs.

Founded in 1973 as part of General American Life Insurance Company, RGA became an independent public company in 1993.

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