Sequoia Financial Advisors LLC Has $2.49 Million Position in Reinsurance Group of America, Incorporated $RGA

Key Points

• Sequoia Financial Advisors increased its RGA stake by 77.6% in the second quarter, bringing its holdings to 11,716 shares worth approximately $2.49 million. Institutional investors own 95.11% of the company.
• RGA reported quarterly EPS of $8.89, beating estimates of $6.50, while revenue rose 18.5% year over year to $6.64 billion. Analysts expect full-year EPS of $29.68.
• The company raised its quarterly dividend from $0.93 to $0.98 per share, equal to a $3.92 annualized payout and a 1.6% yield. Analysts hold a consensus “Moderate Buy” rating with an average price target of $262.56.

Sequoia Financial Advisors LLC raised its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 77.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,716 shares of the insurance provider's stock after acquiring an additional 5,118 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Reinsurance Group of America were worth $2,491,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Tobam increased its stake in shares of Reinsurance Group of America by 244.7% during the 4th quarter. Tobam now owns 162 shares of the insurance provider's stock worth $33,000 after purchasing an additional 115 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Reinsurance Group of America in the 4th quarter valued at $35,000. Advisory Services Network LLC bought a new stake in Reinsurance Group of America in the third quarter worth $38,000. Entrust Financial LLC acquired a new position in Reinsurance Group of America during the fourth quarter worth $40,000. Finally, Measured Wealth Private Client Group LLC bought a new position in Reinsurance Group of America during the third quarter valued at about $44,000. 95.11% of the stock is owned by institutional investors.

Reinsurance Group of America Price Performance

NYSE RGA opened at $248.74 on Monday. The stock has a 50-day simple moving average of $241.64 and a 200 day simple moving average of $220.19. Reinsurance Group of America, Incorporated has a twelve month low of $178.21 and a twelve month high of $257.81. The stock has a market capitalization of $16.24 billion, a PE ratio of 10.92 and a beta of 0.47. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.14 and a current ratio of 0.14.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last released its earnings results on Thursday, August 6th. The insurance provider reported $8.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.50 by $2.39. The firm had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.67 billion. Reinsurance Group of America had a return on equity of 14.78% and a net margin of 5.81%.The company's revenue was up 18.5% on a year-over-year basis. During the same quarter last year, the firm posted $4.72 EPS. Research analysts anticipate that Reinsurance Group of America, Incorporated will post 29.68 EPS for the current year.

Reinsurance Group of America Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th were paid a $0.98 dividend. The ex-dividend date was Tuesday, August 18th. This is a positive change from Reinsurance Group of America's previous quarterly dividend of $0.93. This represents a $3.92 annualized dividend and a dividend yield of 1.6%. Reinsurance Group of America's dividend payout ratio is 17.22%.

Analyst Upgrades and Downgrades

RGA has been the topic of a number of analyst reports. Barclays increased their price objective on Reinsurance Group of America from $278.00 to $290.00 and gave the company an "overweight" rating in a report on Friday, August 7th. TD Cowen boosted their target price on Reinsurance Group of America from $212.00 to $235.00 and gave the stock a "hold" rating in a report on Wednesday, July 22nd. Morgan Stanley upped their target price on Reinsurance Group of America from $223.00 to $250.00 and gave the stock an "equal weight" rating in a research report on Monday, August 24th. Evercore reiterated an "outperform" rating and set a $267.00 price target on shares of Reinsurance Group of America in a report on Monday, May 18th. Finally, UBS Group raised shares of Reinsurance Group of America from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $262.56.

Insider Activity

In related news, EVP Jonathan Porter sold 8,589 shares of the business's stock in a transaction on 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 transaction, the executive vice president owned 14,885 shares of the company's stock, valued at approximately $3,666,175.50. The trade was a 36.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.60% of the company's stock.

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 and financial services companies manage mortality, longevity, morbidity and other risks by assuming portions of their insurance obligations and providing capital and risk-management support.

RGA's business includes traditional life reinsurance, health reinsurance, longevity solutions and financial solutions. Its offerings support products such as life insurance, annuities, critical illness coverage, disability insurance and other health-related protection products.

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