Bank of Nova Scotia lifted its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 140.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,600 shares of the insurance provider's stock after purchasing an additional 12,611 shares during the quarter. Bank of Nova Scotia's holdings in Reinsurance Group of America were worth $4,410,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its stake in shares of Reinsurance Group of America by 44.3% during the first quarter. Goldman Sachs Group Inc. now owns 221,198 shares of the insurance provider's stock valued at $43,554,000 after purchasing an additional 67,880 shares in the last quarter. Focus Partners Wealth lifted its stake in shares of Reinsurance Group of America by 121.2% in the 1st quarter. Focus Partners Wealth now owns 2,676 shares of the insurance provider's stock worth $527,000 after acquiring an additional 1,466 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of Reinsurance Group of America by 17.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 388 shares of the insurance provider's stock worth $76,000 after acquiring an additional 58 shares during the period. Gabelli Funds LLC bought a new position in shares of Reinsurance Group of America in the second quarter valued at approximately $1,006,000. Finally, Cerity Partners LLC boosted its holdings in shares of Reinsurance Group of America by 15.5% in the second quarter. Cerity Partners LLC now owns 33,716 shares of the insurance provider's stock valued at $6,688,000 after acquiring an additional 4,527 shares in the last quarter. Institutional investors and hedge funds own 95.11% of the company's stock.
Insider Activity
In related news, EVP Ronald Herrmann sold 7,000 shares of the company's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $210.58, for a total transaction of $1,474,060.00. Following the completion of the sale, the executive vice president owned 3,938 shares of the company's stock, valued at $829,264.04. This represents a 64.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP John W. Hayden sold 414 shares of the stock in a transaction that occurred 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 in the company, valued at $4,502,987.55. This represents a 1.94% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is owned by corporate insiders.
Reinsurance Group of America Trading Up 0.1%
NYSE:RGA opened at $239.04 on Tuesday. Reinsurance Group of America, Incorporated has a fifty-two week low of $165.52 and a fifty-two week high of $245.00. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.14 and a quick ratio of 0.14. The stock has a market capitalization of $15.66 billion, a PE ratio of 12.95 and a beta of 0.47. The business's 50-day simple moving average is $217.26 and its 200-day simple moving average is $211.13.
Reinsurance Group of America (NYSE:RGA - Get Free Report) last released its earnings results on Thursday, May 7th. The insurance provider reported $6.97 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 analysts' expectations of $6.47 billion. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.The business's quarterly revenue was up 23.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.66 EPS. Sell-side analysts expect 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 issued a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Tuesday, May 19th. Reinsurance Group of America's dividend payout ratio is currently 20.15%.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. increased their price target on Reinsurance Group of America from $270.00 to $286.00 and gave the company an "overweight" rating in a research note on Tuesday, July 21st. Wells Fargo & Company upped their price objective on Reinsurance Group of America from $261.00 to $269.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. Barclays raised their target price on Reinsurance Group of America from $268.00 to $278.00 and gave the company an "overweight" rating in a research note on Tuesday, July 7th. Piper Sandler lowered their target price on Reinsurance Group of America from $263.00 to $261.00 and set an "overweight" rating on the stock in a report on Monday, May 11th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Reinsurance Group of America in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $255.00.
Check Out Our Latest Stock Report on RGA
About Reinsurance Group of America
(
Free Report)
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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