SignalPoint Asset Management LLC boosted its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA – Free Report) by 3.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,955 shares of the insurance provider’s stock after buying an additional 400 shares during the period. SignalPoint Asset Management LLC’s holdings in Reinsurance Group of America were worth $279,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RGA. Moneta Group Investment Advisors LLC raised its position in Reinsurance Group of America by 129,207.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 12,117,433 shares of the insurance provider’s stock valued at $1,721,766,000 after purchasing an additional 12,108,062 shares during the last quarter. Norges Bank purchased a new stake in Reinsurance Group of America during the 4th quarter valued at approximately $96,942,000. Morgan Stanley raised its position in Reinsurance Group of America by 121.0% during the 4th quarter. Morgan Stanley now owns 930,151 shares of the insurance provider’s stock worth $132,165,000 after buying an additional 509,220 shares during the last quarter. Alliancebernstein L.P. raised its position in Reinsurance Group of America by 446.0% during the 3rd quarter. Alliancebernstein L.P. now owns 581,096 shares of the insurance provider’s stock worth $73,108,000 after buying an additional 474,672 shares during the last quarter. Finally, Nuance Investments LLC raised its position in Reinsurance Group of America by 37.6% during the 1st quarter. Nuance Investments LLC now owns 1,018,207 shares of the insurance provider’s stock worth $135,177,000 after buying an additional 278,242 shares during the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.
Wall Street Analysts Forecast Growth
RGA has been the subject of a number of analyst reports. Raymond James initiated coverage on shares of Reinsurance Group of America in a research report on Wednesday, June 7th. They set a “strong-buy” rating and a $199.00 price objective for the company. Barclays increased their target price on Reinsurance Group of America from $149.00 to $151.00 in a research note on Friday, June 16th. Citigroup cut their price target on shares of Reinsurance Group of America from $170.00 to $162.00 and set a “buy” rating for the company in a report on Wednesday, August 9th. Credit Suisse Group increased their price target on shares of Reinsurance Group of America from $144.00 to $152.00 in a report on Wednesday, May 24th. Finally, StockNews.com started coverage on shares of Reinsurance Group of America in a report on Thursday, August 17th. They issued a “buy” rating for the company. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.55.
Reinsurance Group of America Price Performance
Reinsurance Group of America stock traded up $1.05 during mid-day trading on Tuesday, hitting $146.36. 21,281 shares of the company were exchanged, compared to its average volume of 400,265. The company has a market capitalization of $9.69 billion, a P/E ratio of 10.39 and a beta of 0.88. Reinsurance Group of America, Incorporated has a 12-month low of $120.29 and a 12-month high of $153.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.14 and a quick ratio of 0.14. The business’s 50 day simple moving average is $140.71 and its two-hundred day simple moving average is $140.10.
Reinsurance Group of America (NYSE:RGA – Get Free Report) last issued its quarterly earnings results on Friday, August 4th. The insurance provider reported $4.40 EPS for the quarter, topping analysts’ consensus estimates of $4.12 by $0.28. The business had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.30 billion. Reinsurance Group of America had a net margin of 5.61% and a return on equity of 20.35%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.78 earnings per share. Analysts forecast that Reinsurance Group of America, Incorporated will post 18.13 earnings per share for the current fiscal year.
Reinsurance Group of America Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 29th. Stockholders of record on Tuesday, August 15th were given a $0.85 dividend. The ex-dividend date of this dividend was Monday, August 14th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.32%. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.80. Reinsurance Group of America’s payout ratio is currently 24.32%.
Reinsurance Group of America Company 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.
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