Highview Capital Management LLC DE Takes Position in Reinsurance Group of America, Incorporated $RGA

Highview Capital Management LLC DE purchased a new position in Reinsurance Group of America, Incorporated (NYSE:RGA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,885 shares of the insurance provider’s stock, valued at approximately $1,167,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RGA. Intech Investment Management LLC lifted its stake in shares of Reinsurance Group of America by 36.6% in the 2nd quarter. Intech Investment Management LLC now owns 60,533 shares of the insurance provider’s stock worth $12,007,000 after acquiring an additional 16,225 shares during the period. Cetera Investment Advisers raised its holdings in Reinsurance Group of America by 3.2% during the second quarter. Cetera Investment Advisers now owns 29,127 shares of the insurance provider’s stock worth $5,778,000 after purchasing an additional 911 shares in the last quarter. Creative Planning raised its holdings in Reinsurance Group of America by 13.4% during the second quarter. Creative Planning now owns 11,929 shares of the insurance provider’s stock worth $2,366,000 after purchasing an additional 1,409 shares in the last quarter. SG Americas Securities LLC lifted its position in Reinsurance Group of America by 5,813.8% in the second quarter. SG Americas Securities LLC now owns 124,781 shares of the insurance provider’s stock worth $24,752,000 after purchasing an additional 122,671 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Reinsurance Group of America by 7.8% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,979 shares of the insurance provider’s stock valued at $3,368,000 after purchasing an additional 1,233 shares in the last quarter. Institutional investors own 95.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Morgan Stanley dropped their price objective on Reinsurance Group of America from $210.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Monday, August 18th. Raymond James Financial downgraded shares of Reinsurance Group of America from a “market perform” rating to an “underperform” rating in a report on Friday, October 17th. Barclays reaffirmed an “overweight” rating and issued a $246.00 price objective on shares of Reinsurance Group of America in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods decreased their price target on shares of Reinsurance Group of America from $255.00 to $240.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Finally, Piper Sandler reissued an “overweight” rating on shares of Reinsurance Group of America in a research note on Tuesday, October 7th. Seven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $239.89.

Reinsurance Group of America Stock Up 1.5%

Shares of Reinsurance Group of America stock opened at $186.83 on Wednesday. Reinsurance Group of America, Incorporated has a 1 year low of $159.25 and a 1 year high of $233.81. The company has a market cap of $12.28 billion, a P/E ratio of 16.22 and a beta of 0.62. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.47. The stock has a 50-day moving average price of $189.95 and a 200 day moving average price of $194.01.

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, beating the consensus estimate 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 EPS. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, analysts expect that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 11th will be given a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Monday, November 10th. 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.