Seven Eight Capital LP Reduces Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Seven Eight Capital LP lowered its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 17.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,309 shares of the insurance provider’s stock after selling 285 shares during the period. Seven Eight Capital LP’s holdings in Reinsurance Group of America were worth $252,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC lifted its stake in shares of Reinsurance Group of America by 4.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 41,936 shares of the insurance provider’s stock worth $8,089,000 after buying an additional 1,701 shares in the last quarter. Covestor Ltd lifted its stake in Reinsurance Group of America by 20.3% in the 1st quarter. Covestor Ltd now owns 374 shares of the insurance provider’s stock worth $72,000 after purchasing an additional 63 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Reinsurance Group of America by 50.9% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 7,486 shares of the insurance provider’s stock worth $1,459,000 after purchasing an additional 2,524 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of Reinsurance Group of America in the first quarter valued at approximately $24,918,000. Finally, M&G Plc acquired a new stake in shares of Reinsurance Group of America in the first quarter valued at approximately $15,658,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

Reinsurance Group of America Stock Down 1.2 %

Shares of NYSE RGA opened at $218.54 on Thursday. Reinsurance Group of America, Incorporated has a 52-week low of $135.07 and a 52-week high of $223.49. The business’s 50 day moving average is $208.39 and its two-hundred day moving average is $191.00. The firm has a market cap of $14.38 billion, a price-to-earnings ratio of 16.98 and a beta of 0.92. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.46.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Friday, May 3rd. The insurance provider reported $6.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.55 by $1.47. Reinsurance Group of America had a return on equity of 15.94% and a net margin of 4.16%. The firm had revenue of $6.34 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter in the previous year, the business earned $5.16 EPS. Research analysts predict that Reinsurance Group of America, Incorporated will post 21.11 EPS for the current year.

Reinsurance Group of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th were paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Monday, May 13th. Reinsurance Group of America’s payout ratio is 26.42%.

Insider Activity at Reinsurance Group of America

In other Reinsurance Group of America news, EVP John W. Hayden sold 1,767 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $206.85, for a total transaction of $365,503.95. Following the sale, the executive vice president now directly owns 16,490 shares in the company, valued at approximately $3,410,956.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Morgan Stanley boosted their price objective on Reinsurance Group of America from $216.00 to $217.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 10th. JPMorgan Chase & Co. upped their price objective on shares of Reinsurance Group of America from $195.00 to $208.00 and gave the company a “neutral” rating in a report on Tuesday, July 2nd. Citigroup lifted their target price on shares of Reinsurance Group of America from $194.00 to $252.00 and gave the stock a “buy” rating in a research note on Tuesday. UBS Group increased their price target on shares of Reinsurance Group of America from $223.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Finally, Raymond James lifted their price target on shares of Reinsurance Group of America from $212.00 to $228.00 and gave the company a “strong-buy” rating in a research report on Friday, June 14th. Two investment 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. Based on data from MarketBeat, Reinsurance Group of America presently has an average rating of “Moderate Buy” and a consensus price target of $215.64.

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.