SG Americas Securities LLC Increases Stake in Reinsurance Group of America, Incorporated $RGA

Key Points

• SG Americas Securities LLC increased its stake in Reinsurance Group of America by 26.5% in the first quarter, buying 18,826 additional shares and lifting its position to 89,847 shares valued at about $18.3 million.
• RGA reported strong first-quarter results, posting earnings of $6.97 per share versus the $6.03 consensus estimate, while revenue rose 23.5% year over year to $6.49 billion.
• The stock has drawn a bullish analyst outlook, with several firms maintaining or raising ratings; MarketBeat says RGA currently has a consensus “Moderate Buy” rating and a $251.25 price target.

SG Americas Securities LLC grew its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 26.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 89,847 shares of the insurance provider's stock after purchasing an additional 18,826 shares during the quarter. SG Americas Securities LLC owned approximately 0.14% of Reinsurance Group of America worth $18,343,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB raised its holdings in shares of Reinsurance Group of America by 3.8% during the fourth quarter. Nordea Investment Management AB now owns 570,631 shares of the insurance provider's stock valued at $116,597,000 after acquiring an additional 20,722 shares in the last quarter. Tudor Investment Corp ET AL raised its stake in Reinsurance Group of America by 616.3% during the third quarter. Tudor Investment Corp ET AL now owns 60,870 shares of the insurance provider's stock valued at $11,695,000 after buying an additional 52,372 shares during the last quarter. Bank of Montreal Can boosted its stake in Reinsurance Group of America by 49.4% in the 3rd quarter. Bank of Montreal Can now owns 252,159 shares of the insurance provider's stock worth $48,447,000 after purchasing an additional 83,371 shares in the last quarter. Bahl & Gaynor Inc. lifted its stake in shares of Reinsurance Group of America by 18.6% in the third quarter. Bahl & Gaynor Inc. now owns 604,664 shares of the insurance provider's stock worth $116,174,000 after buying an additional 94,894 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Reinsurance Group of America by 4.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,098,564 shares of the insurance provider's stock valued at $211,054,000 after acquiring an additional 49,323 shares in the last quarter. 95.11% of the stock is owned by hedge funds and other institutional investors.

Reinsurance Group of America Stock Performance

Shares of RGA opened at $208.56 on Friday. The firm has a market capitalization of $13.66 billion, a P/E ratio of 11.30 and a beta of 0.47. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.14 and a quick ratio of 0.14. Reinsurance Group of America, Incorporated has a one year low of $165.52 and a one year high of $229.21. The business has a fifty day moving average of $208.69 and a 200 day moving average of $206.93.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its earnings results on Thursday, May 7th. The insurance provider reported $6.97 earnings per share for the quarter, beating analysts' consensus estimates of $6.03 by $0.94. The company 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%.Reinsurance Group of America's revenue was up 23.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.66 earnings per share. As a group, sell-side analysts anticipate that Reinsurance Group of America, Incorporated will post 26.88 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 19th were paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Tuesday, May 19th. Reinsurance Group of America's dividend payout ratio is 20.15%.

Insider Buying and Selling

In other news, EVP Ronald Herrmann sold 7,000 shares of Reinsurance Group of America 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 transaction, the executive vice president owned 3,938 shares in the company, valued at $829,264.04. This trade represents a 64.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP John W. Hayden sold 414 shares of the business's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $214.95, for a total transaction of $88,989.30. Following the sale, the executive vice president directly owned 20,949 shares of the company's stock, valued at approximately $4,502,987.55. The trade was a 1.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on RGA shares. Evercore reaffirmed an "outperform" rating and set a $267.00 price objective on shares of Reinsurance Group of America in a research report on Monday, May 18th. Weiss Ratings restated a "buy (b)" rating on shares of Reinsurance Group of America in a research note 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 decreased their price objective 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, JPMorgan Chase & Co. increased their price objective on shares of Reinsurance Group of America from $264.00 to $270.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. Seven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Reinsurance Group of America presently has a consensus rating of "Moderate Buy" and a consensus price target of $251.25.

Reinsurance Group of America Company Profile

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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