Oppenheimer Asset Management Inc. Acquires 6,144 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Oppenheimer Asset Management Inc. raised its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 23.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,798 shares of the insurance provider’s stock after purchasing an additional 6,144 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Reinsurance Group of America were worth $6,527,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. GHP Investment Advisors Inc. boosted its holdings in Reinsurance Group of America by 0.7% in the second quarter. GHP Investment Advisors Inc. now owns 9,462 shares of the insurance provider’s stock worth $1,942,000 after acquiring an additional 62 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Reinsurance Group of America by 22.0% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 7,428 shares of the insurance provider’s stock worth $1,529,000 after purchasing an additional 1,339 shares in the last quarter. Vest Financial LLC grew its position in Reinsurance Group of America by 17.5% during the 2nd quarter. Vest Financial LLC now owns 5,322 shares of the insurance provider’s stock valued at $1,092,000 after purchasing an additional 794 shares during the last quarter. Qsemble Capital Management LP increased its stake in Reinsurance Group of America by 69.3% during the 2nd quarter. Qsemble Capital Management LP now owns 3,508 shares of the insurance provider’s stock valued at $720,000 after purchasing an additional 1,436 shares in the last quarter. Finally, Vaughan David Investments LLC IL raised its holdings in Reinsurance Group of America by 0.3% in the second quarter. Vaughan David Investments LLC IL now owns 245,731 shares of the insurance provider’s stock worth $50,441,000 after buying an additional 773 shares during the last quarter. 95.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RGA. Piper Sandler increased their price target on shares of Reinsurance Group of America from $228.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, June 28th. JPMorgan Chase & Co. lifted their target price on Reinsurance Group of America from $208.00 to $220.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Royal Bank of Canada upped their price target on Reinsurance Group of America from $225.00 to $235.00 and gave the company an “outperform” rating in a report on Monday, August 5th. StockNews.com lowered Reinsurance Group of America from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th. Finally, Wells Fargo & Company raised their price target on shares of Reinsurance Group of America from $236.00 to $239.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $223.33.

Reinsurance Group of America Stock Up 0.7 %

RGA stock opened at $213.74 on Monday. The business’s 50-day moving average price is $212.08 and its 200-day moving average price is $202.13. The stock has a market cap of $14.08 billion, a P/E ratio of 16.61 and a beta of 0.91. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.52. Reinsurance Group of America, Incorporated has a twelve month low of $140.39 and a twelve month high of $227.87.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share for the quarter, beating the consensus estimate of $4.94 by $0.54. The business had revenue of $4.88 billion for the quarter, compared to the consensus estimate of $5.07 billion. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.40 earnings per share. On average, equities research analysts forecast that Reinsurance Group of America, Incorporated will post 21.5 EPS for the current year.

Reinsurance Group of America Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were issued a dividend of $0.89 per share. The ex-dividend date of this dividend was Friday, August 9th. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a yield of 1.67%. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 27.66%.

About Reinsurance Group of America

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.