Sei Investments Co. Raises Holdings in Reinsurance Group of America, Incorporated $RGA

Key Points

• Sei Investments Co. increased its stake in Reinsurance Group of America by 1.0% in the first quarter, bringing its holdings to 837,391 shares worth about $171 million. Institutional investors overall own a large majority of the company’s stock, at 95.11%.
• Wall Street sentiment is constructive on RGA, with several analysts raising price targets and rating the stock overweight or outperform. The consensus rating is Moderate Buy, with an average target price of $255.
• RGA posted solid results and continues paying a dividend, reporting Q1 EPS of $6.97 versus the $6.03 estimate and revenue of $6.49 billion, up 23.5% year over year. The company also paid a quarterly dividend of $0.93 per share, equal to a 1.6% annualized yield.

Sei Investments Co. increased its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 1.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 837,391 shares of the insurance provider's stock after purchasing an additional 8,221 shares during the period. Sei Investments Co. owned 1.28% of Reinsurance Group of America worth $170,960,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in RGA. AQR Capital Management LLC grew its holdings in Reinsurance Group of America by 148.4% in the fourth quarter. AQR Capital Management LLC now owns 1,652,102 shares of the insurance provider's stock worth $336,137,000 after purchasing an additional 987,014 shares during the last quarter. Norges Bank purchased a new stake in shares of Reinsurance Group of America during the 4th quarter valued at $173,767,000. Orion Porfolio Solutions LLC lifted its holdings in shares of Reinsurance Group of America by 6,076.4% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 602,503 shares of the insurance provider's stock valued at $119,512,000 after purchasing an additional 592,748 shares during the last quarter. SEB Asset Management AB acquired a new stake in shares of Reinsurance Group of America in the 1st quarter worth $81,533,000. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in shares of Reinsurance Group of America in the 2nd quarter worth $69,426,000. Institutional investors own 95.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RGA. Barclays upped their target price on Reinsurance Group of America from $268.00 to $278.00 and gave the company an "overweight" rating in a research report on Tuesday, July 7th. Wells Fargo & Company raised their price target on Reinsurance Group of America from $261.00 to $269.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Evercore restated an "outperform" rating and set a $267.00 price objective on shares of Reinsurance Group of America in a report on Monday, May 18th. JPMorgan Chase & Co. increased their price objective on shares of Reinsurance Group of America from $270.00 to $286.00 and gave the company an "overweight" rating in a research report on Tuesday. Finally, UBS Group lifted their target price on shares of 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 analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $255.00.

Insider Buying and Selling

In related news, EVP John W. Hayden sold 414 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $214.95, for a total value of $88,989.30. Following the transaction, the executive vice president owned 20,949 shares in the company, valued at approximately $4,502,987.55. This represents a 1.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ronald Herrmann sold 7,000 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $210.58, for a total transaction of $1,474,060.00. Following the transaction, the executive vice president directly 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. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is owned by corporate insiders.

Reinsurance Group of America Stock Performance

Shares of RGA stock opened at $235.26 on Thursday. The business has a fifty day moving average of $215.73 and a 200 day moving average of $210.40. Reinsurance Group of America, Incorporated has a 1 year low of $165.52 and a 1 year 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 firm has a market capitalization of $15.41 billion, a price-to-earnings ratio of 12.74 and a beta of 0.47.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The insurance provider reported $6.97 earnings per share for the quarter, beating the consensus estimate of $6.03 by $0.94. The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.47 billion. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.The company's quarterly revenue was up 23.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.66 EPS. As a group, research analysts expect that Reinsurance Group of America, Incorporated will post 26.86 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th were given a $0.93 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $3.72 dividend on an annualized basis and a yield of 1.6%. Reinsurance Group of America's dividend payout ratio is currently 20.15%.

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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