Sei Investments Co. Acquires 45,709 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Sei Investments Co. boosted its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 5.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 825,719 shares of the insurance provider’s stock after purchasing an additional 45,709 shares during the quarter. Sei Investments Co.’s holdings in Reinsurance Group of America were worth $169,497,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Meeder Asset Management Inc. bought a new position in shares of Reinsurance Group of America in the first quarter valued at approximately $675,000. Price T Rowe Associates Inc. MD lifted its stake in Reinsurance Group of America by 22.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 143,178 shares of the insurance provider’s stock valued at $27,617,000 after acquiring an additional 26,306 shares in the last quarter. Junto Capital Management LP purchased a new position in Reinsurance Group of America during the 4th quarter worth $92,083,000. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Reinsurance Group of America by 50.9% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 7,486 shares of the insurance provider’s stock worth $1,459,000 after acquiring an additional 2,524 shares in the last quarter. Finally, Dean Capital Management raised its holdings in shares of Reinsurance Group of America by 19.4% in the fourth quarter. Dean Capital Management now owns 10,086 shares of the insurance provider’s stock valued at $1,632,000 after purchasing an additional 1,636 shares during the last quarter. Institutional investors and hedge funds own 95.11% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Morgan Stanley reduced their price objective on shares of Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Royal Bank of Canada upped their target price 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. Jefferies Financial Group lifted their price target on Reinsurance Group of America from $63.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Wells Fargo & Company upped their price objective on Reinsurance Group of America from $236.00 to $239.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Finally, Raymond James lifted their target price on Reinsurance Group of America from $212.00 to $228.00 and gave the stock a “strong-buy” rating in a research note on Friday, June 14th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $223.33.

Reinsurance Group of America Stock Up 0.4 %

RGA stock opened at $219.62 on Friday. Reinsurance Group of America, Incorporated has a fifty-two week low of $140.39 and a fifty-two week high of $227.87. The stock has a fifty day moving average of $212.96 and a 200-day moving average of $203.22. The company has a market capitalization of $14.45 billion, a price-to-earnings ratio of 17.06 and a beta of 0.91. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.17 and a current ratio of 0.17.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share for the quarter, topping analysts’ consensus estimates of $4.94 by $0.54. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The firm had revenue of $4.88 billion during the quarter, compared to analyst estimates of $5.07 billion. During the same quarter last year, the business earned $4.40 earnings per share. The company’s quarterly revenue was up 17.4% on a year-over-year basis. As a group, equities research analysts predict that Reinsurance Group of America, Incorporated will post 21.7 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 1.62%. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Friday, August 9th. Reinsurance Group of America’s payout ratio 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.