Brighton Jones LLC Acquires New Position in Reinsurance Group of America, Incorporated $RGA

Brighton Jones LLC purchased a new stake in Reinsurance Group of America, Incorporated (NYSE:RGA) in the 2nd quarter, Holdings Channel reports. The fund purchased 1,888 shares of the insurance provider’s stock, valued at approximately $375,000.

Other hedge funds have also modified their holdings of the company. Focus Partners Advisor Solutions LLC lifted its holdings in Reinsurance Group of America by 18.3% in the second quarter. Focus Partners Advisor Solutions LLC now owns 2,945 shares of the insurance provider’s stock valued at $584,000 after acquiring an additional 456 shares during the period. AlphaQuest LLC lifted its stake in shares of Reinsurance Group of America by 205.4% in the second quarter. AlphaQuest LLC now owns 11,988 shares of the insurance provider’s stock valued at $2,378,000 after purchasing an additional 8,063 shares during the period. AlTi Global Inc. acquired a new stake in shares of Reinsurance Group of America in the second quarter valued at about $349,000. First Citizens Bank & Trust Co. lifted its position in shares of Reinsurance Group of America by 276.8% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 6,146 shares of the insurance provider’s stock valued at $1,219,000 after acquiring an additional 4,515 shares during the period. Finally, Forum Financial Management LP lifted its position in shares of Reinsurance Group of America by 8.4% during the 2nd quarter. Forum Financial Management LP now owns 1,991 shares of the insurance provider’s stock valued at $395,000 after acquiring an additional 155 shares during the period. 95.11% of the stock is owned by institutional investors and hedge funds.

Reinsurance Group of America Stock Down 0.2%

RGA stock opened at $189.15 on Friday. The stock has a market capitalization of $12.50 billion, a P/E ratio of 16.42 and a beta of 0.60. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.16 and a current ratio of 0.16. Reinsurance Group of America, Incorporated has a one year low of $159.25 and a one year high of $233.81. The company has a 50 day moving average price of $191.65 and a two-hundred day moving average price of $193.90.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Thursday, October 30th. The insurance provider reported $6.37 EPS for the quarter, topping the consensus estimate of $5.80 by $0.57. The firm had revenue of $6.20 billion during the quarter, compared to analysts’ expectations of $6.02 billion. Reinsurance Group of America had a net margin of 3.54% and a return on equity of 12.56%. Reinsurance Group of America’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the company earned $6.13 EPS. As a group, sell-side analysts expect that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Analyst Upgrades and Downgrades

RGA has been the subject of several research reports. Wells Fargo & Company reduced their price objective on Reinsurance Group of America from $249.00 to $241.00 and set an “overweight” rating for the company in a report on Monday, August 4th. JPMorgan Chase & Co. raised their price target on Reinsurance Group of America from $237.00 to $264.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. Weiss Ratings restated a “hold (c+)” rating on shares of Reinsurance Group of America in a report on Wednesday, October 8th. Barclays reissued an “overweight” rating and set a $246.00 price objective on shares of Reinsurance Group of America in a research note on Wednesday, October 8th. Finally, Morgan Stanley dropped their price objective on shares of Reinsurance Group of America from $210.00 to $195.00 and set an “equal weight” rating for the company in a research note on Monday, August 18th. Seven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $241.56.

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.