Reinsurance Group of America, Incorporated $RGA Stake Raised by Engineers Gate Manager LP

Engineers Gate Manager LP increased its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 26.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,218 shares of the insurance provider’s stock after buying an additional 5,331 shares during the quarter. Engineers Gate Manager LP’s holdings in Reinsurance Group of America were worth $5,363,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Squarepoint Ops LLC bought a new stake in Reinsurance Group of America during the 2nd quarter valued at $8,971,000. Baird Financial Group Inc. grew its stake in shares of Reinsurance Group of America by 79.0% in the second quarter. Baird Financial Group Inc. now owns 5,065 shares of the insurance provider’s stock worth $1,077,000 after purchasing an additional 2,236 shares in the last quarter. Nykredit A S acquired a new position in shares of Reinsurance Group of America during the second quarter valued at $376,000. Parkside Financial Bank & Trust increased its holdings in shares of Reinsurance Group of America by 5.1% during the second quarter. Parkside Financial Bank & Trust now owns 1,555 shares of the insurance provider’s stock valued at $331,000 after purchasing an additional 76 shares during the period. Finally, Corient Private Wealth LP raised its stake in shares of Reinsurance Group of America by 195.4% during the second quarter. Corient Private Wealth LP now owns 106,412 shares of the insurance provider’s stock valued at $22,629,000 after purchasing an additional 70,385 shares in the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RGA has been the subject of several research analyst reports. TD Cowen upped their price objective on shares of Reinsurance Group of America from $212.00 to $235.00 and gave the stock a “hold” rating in a report on Wednesday, July 22nd. Barclays boosted their price target on shares of Reinsurance Group of America from $278.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Wells Fargo & Company upped their price target on shares of Reinsurance Group of America from $269.00 to $291.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 19th. JPMorgan Chase & Co. increased their price objective on shares of Reinsurance Group of America from $286.00 to $293.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Finally, Morgan Stanley raised their price objective on shares of Reinsurance Group of America from $223.00 to $250.00 and gave the company an “equal weight” rating in a research note on Monday, August 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $262.56.

Insider Activity at Reinsurance Group of America

In other news, EVP Jonathan Porter sold 8,589 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $246.30, for a total transaction of $2,115,470.70. Following the completion of the sale, the executive vice president owned 14,885 shares in the company, valued at approximately $3,666,175.50. This represents a 36.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.60% of the company’s stock.

Reinsurance Group of America Trading Up 0.5%

Shares of Reinsurance Group of America stock opened at $248.74 on Friday. The business has a fifty day simple moving average of $241.64 and a 200-day simple moving average of $220.17. Reinsurance Group of America, Incorporated has a fifty-two week low of $178.21 and a fifty-two week high of $257.81. The firm has a market cap of $16.24 billion, a price-to-earnings ratio of 10.92 and a beta of 0.47. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.41.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Thursday, August 6th. The insurance provider reported $8.89 EPS for the quarter, topping analysts’ consensus estimates of $6.50 by $2.39. Reinsurance Group of America had a net margin of 5.81% and a return on equity of 14.78%. The business had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.67 billion. During the same period in the previous year, the firm earned $4.72 EPS. The business’s revenue for the quarter was up 18.5% on a year-over-year basis. On average, equities analysts forecast that Reinsurance Group of America, Incorporated will post 29.68 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th were issued 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 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, August 18th. Reinsurance Group of America’s dividend payout ratio is currently 17.22%.

Reinsurance Group of America Profile

Reinsurance Group of America, Incorporated (NYSE:RGA) is a global provider of life and health reinsurance. The company helps insurance and financial services companies manage mortality, longevity, morbidity and other risks by assuming portions of their insurance obligations and providing capital and risk-management support.

RGA’s business includes traditional life reinsurance, health reinsurance, longevity solutions and financial solutions. Its offerings support products such as life insurance, annuities, critical illness coverage, disability insurance and other health-related protection products.