Summit Investment Advisors Inc. Raises Holdings in Reinsurance Group of America, Incorporated $RGA

Summit Investment Advisors Inc. increased its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 2.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,566 shares of the insurance provider’s stock after buying an additional 574 shares during the period. Summit Investment Advisors Inc.’s holdings in Reinsurance Group of America were worth $4,640,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. AE Wealth Management LLC grew its stake in Reinsurance Group of America by 10.3% in the second quarter. AE Wealth Management LLC now owns 3,655 shares of the insurance provider’s stock valued at $725,000 after purchasing an additional 340 shares during the last quarter. Paulson Wealth Management Inc. grew its position in shares of Reinsurance Group of America by 4.5% in the 2nd quarter. Paulson Wealth Management Inc. now owns 1,569 shares of the insurance provider’s stock worth $311,000 after buying an additional 67 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Reinsurance Group of America by 15.5% during the 2nd quarter. Bank of Montreal Can now owns 168,788 shares of the insurance provider’s stock worth $33,481,000 after acquiring an additional 22,616 shares in the last quarter. State of Michigan Retirement System lifted its position in Reinsurance Group of America by 0.6% during the second quarter. State of Michigan Retirement System now owns 15,852 shares of the insurance provider’s stock valued at $3,144,000 after acquiring an additional 100 shares during the last quarter. Finally, GHP Investment Advisors Inc. grew its holdings in Reinsurance Group of America by 2.4% in the second quarter. GHP Investment Advisors Inc. now owns 10,568 shares of the insurance provider’s stock worth $2,096,000 after purchasing an additional 246 shares during the last quarter. 95.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RGA. Keefe, Bruyette & Woods lowered their price objective on Reinsurance Group of America from $255.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Reinsurance Group of America in a report on Wednesday, October 8th. Wells Fargo & Company cut their price objective on shares of Reinsurance Group of America from $249.00 to $241.00 and set an “overweight” rating on the stock in a report on Monday, August 4th. Morgan Stanley decreased 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 report on Monday, August 18th. Finally, Barclays reissued an “overweight” rating and set a $246.00 target price on shares of Reinsurance Group of America in a research report on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $239.89.

Reinsurance Group of America Stock Performance

RGA opened at $190.39 on Friday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.47. Reinsurance Group of America, Incorporated has a 12-month low of $159.25 and a 12-month high of $233.81. The firm has a 50 day moving average of $190.86 and a two-hundred day moving average of $194.06. The firm has a market capitalization of $12.51 billion, a PE ratio of 16.53 and a beta of 0.62.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Thursday, October 30th. The insurance provider reported $6.37 earnings per share for the quarter, topping analysts’ consensus estimates of $5.80 by $0.57. Reinsurance Group of America had a net margin of 3.54% and a return on equity of 12.56%. The firm had revenue of $6.20 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same quarter in the prior year, the business earned $6.13 earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, analysts anticipate that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Reinsurance Group of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 11th will be paid a $0.93 dividend. The ex-dividend date is Monday, November 10th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.0%. Reinsurance Group of America’s dividend payout ratio is presently 28.62%.

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.