SEB Asset Management AB Buys New Shares in Reinsurance Group of America, Incorporated $RGA

Key Points

• SEB Asset Management AB opened a new position in Reinsurance Group of America during the first quarter, buying 399,361 shares worth about $81.5 million. The stake represented roughly 0.61% of the company.
• Institutional ownership remains very high, with hedge funds and other investors holding about 95.11% of RGA shares. Several firms also increased or initiated positions, including AQR Capital Management and Norges Bank.
• RGA reported strong quarterly results, with EPS of $6.97 beating estimates and revenue rising 23.5% year over year. The company also paid a quarterly dividend of $0.93 per share, and analysts currently rate the stock a Moderate Buy with a consensus target price of $255.50.

SEB Asset Management AB purchased a new stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 399,361 shares of the insurance provider's stock, valued at approximately $81,533,000. SEB Asset Management AB owned 0.61% of Reinsurance Group of America as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. AQR Capital Management LLC lifted its position in shares of Reinsurance Group of America by 148.4% during the 4th quarter. AQR Capital Management LLC now owns 1,652,102 shares of the insurance provider's stock valued at $336,137,000 after buying an additional 987,014 shares in the last quarter. Norges Bank purchased a new stake in Reinsurance Group of America in the 4th quarter worth approximately $173,767,000. Orion Porfolio Solutions LLC increased its holdings in Reinsurance Group of America by 6,076.4% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 602,503 shares of the insurance provider's stock worth $119,512,000 after acquiring an additional 592,748 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in Reinsurance Group of America in the 2nd quarter worth approximately $69,426,000. Finally, Balyasny Asset Management L.P. bought a new stake in Reinsurance Group of America during the 3rd quarter worth approximately $35,266,000. Hedge funds and other institutional investors own 95.11% of the company's stock.

Insider Buying and Selling

In other news, 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 completion of the transaction, the executive vice president directly owned 20,949 shares in the company, valued at approximately $4,502,987.55. This represents a 1.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $1,474,060.00. Following the completion of the transaction, the executive vice president directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.60% of the company's stock.

Reinsurance Group of America Stock Up 0.7%

RGA opened at $241.60 on Friday. The company has a market capitalization of $15.83 billion, a PE ratio of 13.09 and a beta of 0.47. The firm has a 50-day simple moving average of $213.97 and a two-hundred day simple moving average of $209.65. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.46. Reinsurance Group of America, Incorporated has a 52 week low of $165.52 and a 52 week high of $244.30.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its earnings results on Thursday, May 7th. The insurance provider reported $6.97 earnings per share (EPS) for the quarter, topping 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 revenue was up 23.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.66 earnings per share. Analysts forecast that Reinsurance Group of America, Incorporated will post 26.86 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 19th were paid a $0.93 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $3.72 dividend on an annualized basis and a yield of 1.5%. Reinsurance Group of America's payout ratio is presently 20.15%.

Analysts Set New Price Targets

Several brokerages have weighed in on RGA. Barclays lifted their price target on shares of Reinsurance Group of America from $268.00 to $278.00 and gave the company an "overweight" rating in a report on Tuesday, July 7th. Weiss Ratings restated a "buy (b)" rating on shares of Reinsurance Group of America in a research report on Wednesday, May 13th. Wall Street Zen upgraded shares of Reinsurance Group of America from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Piper Sandler dropped 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 report on Monday, May 11th. Finally, UBS Group increased their price target on Reinsurance Group of America from $220.00 to $236.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 8th. Seven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Reinsurance Group of America currently has a consensus rating of "Moderate Buy" and a consensus target price of $255.50.

About Reinsurance Group of America

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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