Wedge Capital Management L L P NC Purchases 162,594 Shares of Reinsurance Group of America, Incorporated $RGA

Key Points

• Wedge Capital Management increased its RGA position by 965.2% in the second quarter, purchasing 162,594 additional shares for a total holding of 179,440 shares valued at approximately $38.2 million. Institutional investors collectively own 95.11% of the company.
• RGA reported quarterly earnings of $8.89 per share, beating analysts’ $6.50 estimate, while revenue rose 18.5% year over year to $6.64 billion. Analysts have a “Moderate Buy” consensus rating and an average price target of $257.11.
• The company raised its quarterly dividend from $0.93 to $0.98 per share, equivalent to an annualized dividend of $3.92 and a 1.6% yield. Two executives recently sold shares, while insider ownership stands at 0.60%.

Wedge Capital Management L L P NC lifted its position in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 965.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 179,440 shares of the insurance provider's stock after purchasing an additional 162,594 shares during the quarter. Wedge Capital Management L L P NC owned 0.27% of Reinsurance Group of America worth $38,158,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RGA. Activest Wealth Management bought a new stake in Reinsurance Group of America in the 4th quarter valued at $30,000. Tobam lifted its holdings 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 acquiring an additional 115 shares during the period. International Assets Investment Management LLC bought a new position in shares of Reinsurance Group of America during the 4th quarter worth about $35,000. Advisory Services Network LLC acquired a new stake in shares of Reinsurance Group of America during the 3rd quarter valued at about $38,000. Finally, Entrust Financial LLC acquired a new stake in shares of Reinsurance Group of America during the 4th quarter valued at about $40,000. 95.11% of the stock is owned by institutional investors.

Insider Buying and Selling at Reinsurance Group of America

In other Reinsurance Group of America news, EVP Ronald Herrmann sold 7,000 shares of the firm's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $210.58, for a total value of $1,474,060.00. Following the completion of the sale, the executive vice president owned 3,938 shares in the company, valued at approximately $829,264.04. This trade represents a 64.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP John W. Hayden sold 414 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total transaction of $88,989.30. Following the completion of the sale, the executive vice president owned 20,949 shares in the company, valued at approximately $4,502,987.55. This trade represents a 1.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on RGA shares. TD Cowen increased their price target on shares of Reinsurance Group of America from $212.00 to $235.00 and gave the stock a "hold" rating in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. lifted their price objective on Reinsurance Group of America from $286.00 to $293.00 and gave the company an "overweight" rating in a report on Tuesday. Wall Street Zen upgraded Reinsurance Group of America from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Weiss Ratings reissued a "buy (b)" rating on shares of Reinsurance Group of America in a report on Friday. Finally, Piper Sandler cut their target price on Reinsurance Group of America from $263.00 to $261.00 and set an "overweight" rating for the company in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $257.11.

Reinsurance Group of America Stock Performance

NYSE RGA opened at $244.55 on Wednesday. The firm has a market cap of $15.97 billion, a price-to-earnings ratio of 10.74 and a beta of 0.47. The company has a 50 day moving average of $224.17 and a 200-day moving average of $214.35. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.41. Reinsurance Group of America, Incorporated has a 1-year low of $178.21 and a 1-year high of $248.13.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last announced its earnings results on Thursday, August 6th. The insurance provider reported $8.89 EPS for the quarter, topping the consensus estimate of $6.50 by $2.39. The business had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.67 billion. Reinsurance Group of America had a return on equity of 14.78% and a net margin of 5.81%.Reinsurance Group of America's revenue was up 18.5% compared to the same quarter last year. During the same period in the previous year, the business earned $4.72 EPS. On average, equities analysts forecast that Reinsurance Group of America, Incorporated will post 26.84 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be paid a $0.98 dividend. This is an increase from Reinsurance Group of America's previous quarterly dividend of $0.93. This represents a $3.92 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, August 18th. Reinsurance Group of America's payout ratio is presently 16.34%.

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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