Acadian Asset Management LLC Grows Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Acadian Asset Management LLC lifted its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 52.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 100,689 shares of the insurance provider’s stock after buying an additional 34,606 shares during the period. Acadian Asset Management LLC owned 0.15% of Reinsurance Group of America worth $20,659,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pineridge Advisors LLC purchased a new stake in shares of Reinsurance Group of America in the fourth quarter valued at $26,000. New Covenant Trust Company N.A. acquired a new position in shares of Reinsurance Group of America during the 1st quarter valued at about $28,000. International Assets Investment Management LLC purchased a new position in shares of Reinsurance Group of America during the 2nd quarter worth about $28,000. Rise Advisors LLC acquired a new stake in shares of Reinsurance Group of America in the first quarter worth approximately $29,000. Finally, Family Firm Inc. purchased a new stake in Reinsurance Group of America in the second quarter valued at approximately $29,000. 95.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. UBS Group increased their price target on shares of 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. Citigroup lifted their target price on Reinsurance Group of America from $194.00 to $252.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Evercore ISI upped their price target on Reinsurance Group of America from $225.00 to $241.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 26th. Piper Sandler raised their price objective on Reinsurance Group of America from $228.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, June 28th. Finally, JPMorgan Chase & Co. boosted 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. Three 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. According to MarketBeat.com, Reinsurance Group of America currently has a consensus rating of “Moderate Buy” and a consensus price target of $223.33.

Reinsurance Group of America Stock Up 0.3 %

Shares of NYSE:RGA opened at $212.79 on Tuesday. The company has a market capitalization of $14.01 billion, a price-to-earnings ratio of 16.53 and a beta of 0.91. The company has a 50 day moving average of $211.55 and a two-hundred day moving average of $201.09. Reinsurance Group of America, Incorporated has a 52-week low of $140.39 and a 52-week high of $227.87. 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 (NYSE:RGA) last announced its 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. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The business had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $5.07 billion. During the same period in the prior year, the firm earned $4.40 earnings per share. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. As a group, analysts forecast that Reinsurance Group of America, Incorporated will post 21.5 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were paid a dividend of $0.89 per share. The ex-dividend date was Friday, August 9th. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend 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.