Skandinaviska Enskilda Banken AB publ Acquires 35,503 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Key Points

• Skandinaviska Enskilda Banken AB has significantly increased its stake in Reinsurance Group of America, owning 36,121 shares worth approximately $7.11 million after a 5,744.8% increase in the first quarter.
• Reinsurance Group of America announced a quarterly dividend of $0.89 per share, translating to an annualized dividend of $3.56 and a yield of 1.81%.
• The company reported quarterly earnings of $5.66 EPS, surpassing estimates, despite a revenue drop of 17.0% year-over-year, indicating challenges in the current market environment.

Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 5,744.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,121 shares of the insurance provider's stock after purchasing an additional 35,503 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned approximately 0.05% of Reinsurance Group of America worth $7,112,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of RGA. Cetera Investment Advisers increased its position in shares of Reinsurance Group of America by 13.8% during the first quarter. Cetera Investment Advisers now owns 28,216 shares of the insurance provider's stock worth $5,556,000 after purchasing an additional 3,421 shares in the last quarter. Journey Strategic Wealth LLC boosted its stake in shares of Reinsurance Group of America by 4.9% in the first quarter. Journey Strategic Wealth LLC now owns 1,204 shares of the insurance provider's stock valued at $237,000 after buying an additional 56 shares in the last quarter. Carnegie Investment Counsel acquired a new position in shares of Reinsurance Group of America during the 1st quarter worth $257,000. Mount Lucas Management LP grew its position in Reinsurance Group of America by 3.6% during the first quarter. Mount Lucas Management LP now owns 2,223 shares of the insurance provider's stock worth $438,000 after buying an additional 77 shares during the period. Finally, Burling Wealth Partners LLC increased its stake in Reinsurance Group of America by 84.5% in the 1st quarter. Burling Wealth Partners LLC now owns 11,986 shares of the insurance provider's stock valued at $2,360,000 after purchasing an additional 5,491 shares in the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Reinsurance Group of America Stock Performance

Shares of RGA traded up $2.78 during trading hours on Thursday, hitting $193.29. The company had a trading volume of 130,513 shares, compared to its average volume of 439,631. The firm has a market cap of $12.77 billion, a price-to-earnings ratio of 16.31 and a beta of 0.62. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.50. Reinsurance Group of America, Incorporated has a 12 month low of $159.25 and a 12 month high of $233.81. The business has a fifty day moving average of $197.90 and a 200-day moving average of $199.18.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The insurance provider reported $5.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.33 by $0.33. The business had revenue of $5.26 billion for the quarter, compared to analyst estimates of $5.74 billion. Reinsurance Group of America had a net margin of 3.77% and a return on equity of 13.69%. The firm's revenue for the quarter was down 17.0% on a year-over-year basis. During the same quarter last year, the business posted $6.02 EPS. Equities analysts anticipate that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were issued a dividend of $0.89 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $3.56 dividend on an annualized basis and a yield of 1.84%. Reinsurance Group of America's payout ratio is currently 30.04%.

Analyst Ratings Changes

Several research analysts recently issued reports on RGA shares. Keefe, Bruyette & Woods lifted their price objective on Reinsurance Group of America from $250.00 to $255.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Morgan Stanley boosted their target price on shares of Reinsurance Group of America from $209.00 to $210.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. Wells Fargo & Company restated an "overweight" rating and issued a $249.00 price target (up previously from $248.00) on shares of Reinsurance Group of America in a report on Thursday, July 10th. JPMorgan Chase & Co. lifted their price objective on shares of Reinsurance Group of America from $237.00 to $264.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Finally, UBS Group reiterated a "neutral" rating and set a $216.00 price objective (down from $250.00) on shares of Reinsurance Group of America in a research note on Wednesday, April 2nd. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $244.36.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated engages in reinsurance business. The company offers individual and group life and health insurance products, such as term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products; asset-intensive and financial reinsurance products; and other capital motivated solutions.