1832 Asset Management L.P. Invests $1.95 Million in Reinsurance Group of America, Incorporated (NYSE:RGA)

1832 Asset Management L.P. purchased a new stake in Reinsurance Group of America, Incorporated (NYSE:RGA) during the first quarter, Holdings Channel.com reports. The institutional investor purchased 10,128 shares of the insurance provider’s stock, valued at approximately $1,953,000.

Several other institutional investors also recently bought and sold shares of RGA. Nuance Investments LLC increased its position in shares of Reinsurance Group of America by 14.7% during the fourth quarter. Nuance Investments LLC now owns 1,114,060 shares of the insurance provider’s stock worth $180,233,000 after purchasing an additional 142,627 shares in the last quarter. Sei Investments Co. raised its holdings in Reinsurance Group of America by 5.7% in the 1st quarter. Sei Investments Co. now owns 780,010 shares of the insurance provider’s stock valued at $150,448,000 after acquiring an additional 42,135 shares during the last quarter. Norges Bank purchased a new position in Reinsurance Group of America in the 4th quarter worth approximately $122,301,000. Junto Capital Management LP acquired a new position in shares of Reinsurance Group of America during the 4th quarter worth approximately $92,083,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Reinsurance Group of America by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 426,095 shares of the insurance provider’s stock valued at $68,934,000 after purchasing an additional 5,972 shares in the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Reinsurance Group of America

In related news, EVP John W. Hayden sold 1,767 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $206.85, for a total transaction of $365,503.95. Following the transaction, the executive vice president now owns 16,490 shares of the company’s stock, valued at $3,410,956.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.37% of the stock is owned by corporate insiders.

Reinsurance Group of America Stock Performance

RGA traded up $2.40 during trading on Friday, hitting $221.58. 461,405 shares of the stock were exchanged, compared to its average volume of 395,475. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.46. Reinsurance Group of America, Incorporated has a 1-year low of $135.07 and a 1-year high of $223.85. The stock has a fifty day moving average price of $208.76 and a two-hundred day moving average price of $191.76. The firm has a market capitalization of $14.58 billion, a P/E ratio of 17.22 and a beta of 0.92.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Friday, May 3rd. The insurance provider reported $6.02 earnings per share for the quarter, beating the consensus estimate of $4.55 by $1.47. Reinsurance Group of America had a return on equity of 15.94% and a net margin of 4.16%. The company had revenue of $6.34 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same period last year, the business posted $5.16 EPS. As a group, sell-side analysts predict that Reinsurance Group of America, Incorporated will post 21.11 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th were given a $0.85 dividend. The ex-dividend date of this dividend was Monday, May 13th. This represents a $3.40 dividend on an annualized basis and a yield of 1.53%. Reinsurance Group of America’s payout ratio is currently 26.42%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Raymond James lifted their price target on Reinsurance Group of America from $212.00 to $228.00 and gave the stock a “strong-buy” rating in a report on Friday, June 14th. Jefferies Financial Group boosted their target price on shares of Reinsurance Group of America from $63.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Morgan Stanley lifted their price target on shares of Reinsurance Group of America from $216.00 to $217.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 10th. Keefe, Bruyette & Woods boosted their price target on shares of Reinsurance Group of America from $220.00 to $235.00 and gave the company an “outperform” rating in a research note on Tuesday, May 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $225.00 price objective on shares of Reinsurance Group of America in a research report on Friday, June 14th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $215.64.

Reinsurance Group of America Profile

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.