1832 Asset Management L.P. Has $3.12 Million Stake in Reinsurance Group of America, Incorporated (NYSE:RGA)

1832 Asset Management L.P. increased its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 50.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,200 shares of the insurance provider’s stock after purchasing an additional 5,072 shares during the quarter. 1832 Asset Management L.P.’s holdings in Reinsurance Group of America were worth $3,120,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RGA. Janney Montgomery Scott LLC grew its stake in Reinsurance Group of America by 7.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 7,961 shares of the insurance provider’s stock valued at $1,288,000 after purchasing an additional 539 shares in the last quarter. UBS Group AG increased its holdings in Reinsurance Group of America by 64.7% in the fourth quarter. UBS Group AG now owns 115,271 shares of the insurance provider’s stock worth $18,649,000 after buying an additional 45,303 shares during the last quarter. Hsbc Holdings PLC raised its position in Reinsurance Group of America by 96.3% during the fourth quarter. Hsbc Holdings PLC now owns 57,069 shares of the insurance provider’s stock valued at $9,218,000 after acquiring an additional 27,995 shares in the last quarter. Parallel Advisors LLC lifted its stake in Reinsurance Group of America by 78.5% in the fourth quarter. Parallel Advisors LLC now owns 1,114 shares of the insurance provider’s stock valued at $180,000 after acquiring an additional 490 shares during the last quarter. Finally, Stifel Financial Corp grew its position in Reinsurance Group of America by 0.8% in the fourth quarter. Stifel Financial Corp now owns 342,461 shares of the insurance provider’s stock worth $55,404,000 after acquiring an additional 2,690 shares in the last quarter. 95.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RGA has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their price target on shares of Reinsurance Group of America from $208.00 to $220.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. UBS Group upped their price target on Reinsurance Group of America from $223.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Royal Bank of Canada raised their price objective on Reinsurance Group of America from $225.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Morgan Stanley decreased their target price on 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. Finally, Barclays initiated coverage on shares of Reinsurance Group of America in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $255.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.17.

Insider Transactions at Reinsurance Group of America

In related news, EVP William L. Hutton sold 1,209 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total value of $264,734.73. Following the completion of the transaction, the executive vice president now directly owns 12,357 shares in the company, valued at $2,705,812.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.37% of the stock is owned by insiders.

Reinsurance Group of America Trading Down 0.4 %

Shares of Reinsurance Group of America stock opened at $218.55 on Thursday. The company has a market cap of $14.38 billion, a price-to-earnings ratio of 16.98 and a beta of 0.91. Reinsurance Group of America, Incorporated has a 1 year low of $140.39 and a 1 year high of $227.87. The company’s fifty day simple moving average is $213.26 and its 200-day simple moving average is $204.16. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.52.

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

Reinsurance Group of America Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were given a $0.89 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.63%. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.85. 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.