Convergence Investment Partners LLC Raises Stake in Reinsurance Group of America, Incorporated $RGA

Convergence Investment Partners LLC lifted its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 38.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,538 shares of the insurance provider’s stock after purchasing an additional 2,353 shares during the quarter. Convergence Investment Partners LLC’s holdings in Reinsurance Group of America were worth $1,743,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in RGA. Activest Wealth Management acquired a new stake in shares of Reinsurance Group of America in the fourth quarter valued at about $30,000. Tobam grew its position in Reinsurance Group of America by 244.7% during the fourth quarter. Tobam now owns 162 shares of the insurance provider’s stock worth $33,000 after buying an additional 115 shares during the period. International Assets Investment Management LLC purchased a new position in Reinsurance Group of America in the fourth quarter valued at about $35,000. Entrust Financial LLC purchased a new position in Reinsurance Group of America in the fourth quarter valued at about $40,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Reinsurance Group of America during the 3rd quarter valued at approximately $38,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Insiders Place Their Bets

In other news, EVP John W. Hayden sold 414 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total value of $88,989.30. Following the sale, the executive vice president directly owned 20,949 shares in the company, valued at $4,502,987.55. This represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ronald Herrmann sold 7,000 shares of the company’s stock in a transaction on 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 $829,264.04. This represents a 64.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

RGA has been the topic of several research analyst reports. Wall Street Zen raised Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Reinsurance Group of America in a research note on Wednesday, May 13th. Wells Fargo & Company lifted their price objective on Reinsurance Group of America from $261.00 to $269.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Evercore reiterated an “outperform” rating and set a $267.00 target price on shares of Reinsurance Group of America in a research report on Monday, May 18th. Finally, Barclays upped their target price on Reinsurance Group of America from $268.00 to $278.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Reinsurance Group of America presently has an average rating of “Moderate Buy” and a consensus price target of $257.50.

Reinsurance Group of America Stock Down 0.8%

Shares of NYSE RGA opened at $238.97 on Wednesday. Reinsurance Group of America, Incorporated has a 12-month low of $165.52 and a 12-month high of $245.00. The company has a market capitalization of $15.65 billion, a PE ratio of 12.95 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. The firm’s 50-day moving average is $215.17 and its two-hundred day moving average is $210.18.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results on Thursday, May 7th. The insurance provider reported $6.97 EPS for the quarter, beating the consensus estimate of $6.03 by $0.94. Reinsurance Group of America had a net margin of 4.92% and a return on equity of 13.16%. The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.47 billion. During the same period in the prior year, the business earned $5.66 earnings per share. The company’s quarterly revenue was up 23.5% on a year-over-year basis. Equities analysts anticipate that Reinsurance Group of America, Incorporated will post 26.86 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 19th were issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Tuesday, May 19th. Reinsurance Group of America’s dividend payout ratio is 20.15%.

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.