Wedge Capital Management L L P NC Invests $3.69 Million in Reinsurance Group of America, Incorporated $RGA

Key Points

• Wedge Capital bought a new position of 18,118 RGA shares valued at about $3.69 million in Q4, and institutional investors now own roughly 95.11% of the company.
• RGA beat expectations with Q4 EPS of $7.75 versus $5.86 expected and revenue of $6.64B (up 26.6% YoY); analysts maintain a consensus "Moderate Buy" with an average price target of $244.57 and projected FY EPS of 22.9.
• RGA pays a quarterly dividend of $0.93 ($3.72 annualized, ~1.9% yield) and the stock trades with a market cap of $13.03B and a P/E of 11.2.

Wedge Capital Management L L P NC purchased a new position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 18,118 shares of the insurance provider's stock, valued at approximately $3,686,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Rehmann Capital Advisory Group grew its position in Reinsurance Group of America by 1.3% during the third quarter. Rehmann Capital Advisory Group now owns 4,281 shares of the insurance provider's stock worth $819,000 after buying an additional 54 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in Reinsurance Group of America by 17.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 388 shares of the insurance provider's stock worth $76,000 after buying an additional 58 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of Reinsurance Group of America by 1.0% during the 3rd quarter. Bessemer Group Inc. now owns 5,776 shares of the insurance provider's stock valued at $1,110,000 after purchasing an additional 58 shares during the last quarter. Xponance Inc. grew its holdings in shares of Reinsurance Group of America by 0.8% in the third quarter. Xponance Inc. now owns 7,637 shares of the insurance provider's stock worth $1,467,000 after purchasing an additional 58 shares during the last quarter. Finally, Millstone Evans Group LLC raised its stake in shares of Reinsurance Group of America by 82.4% during the third quarter. Millstone Evans Group LLC now owns 135 shares of the insurance provider's stock valued at $26,000 after acquiring an additional 61 shares during the last quarter. 95.11% of the stock is owned by institutional investors.

Reinsurance Group of America Stock Performance

NYSE RGA opened at $198.82 on Monday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.42. Reinsurance Group of America, Incorporated has a twelve month low of $159.25 and a twelve month high of $229.21. The business has a 50-day moving average price of $208.40 and a 200-day moving average price of $198.95. The firm has a market cap of $13.03 billion, a price-to-earnings ratio of 11.20 and a beta of 0.50.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its quarterly earnings results on Thursday, February 5th. The insurance provider reported $7.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.86 by $1.89. Reinsurance Group of America had a return on equity of 12.99% and a net margin of 4.99%.The company had revenue of $6.64 billion during the quarter, compared to the consensus estimate of $6.25 billion. During the same period last year, the company earned $4.99 earnings per share. Reinsurance Group of America's revenue was up 26.6% on a year-over-year basis. As a group, equities research analysts predict that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th were issued a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, February 17th. Reinsurance Group of America's payout ratio is currently 20.96%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on RGA shares. Wall Street Zen upgraded shares of Reinsurance Group of America from a "hold" rating to a "buy" rating in a report on Saturday, February 7th. Wells Fargo & Company raised their target price on shares of Reinsurance Group of America from $238.00 to $261.00 and gave the company an "overweight" rating in a research note on Wednesday, February 25th. Weiss Ratings reissued a "buy (b-)" rating on shares of Reinsurance Group of America in a research report on Monday, December 29th. Morgan Stanley raised their price objective on Reinsurance Group of America from $208.00 to $223.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 3rd. Finally, TD Cowen reissued a "hold" rating on shares of Reinsurance Group of America in a report on Wednesday, January 28th. Six equities 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 stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $244.57.

Reinsurance Group of America 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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