Reinsurance Group of America, Incorporated $RGA Stock: Islay Capital Management LLC Raises Stake

Islay Capital Management LLC grew its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 3,921.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,016 shares of the insurance provider’s stock after buying an additional 2,941 shares during the period. Islay Capital Management LLC’s holdings in Reinsurance Group of America were worth $743,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. WCM Investment Management LLC boosted its holdings in shares of Reinsurance Group of America by 3.0% in the 1st quarter. WCM Investment Management LLC now owns 2,830,620 shares of the insurance provider’s stock worth $566,803,000 after purchasing an additional 82,681 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Reinsurance Group of America by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,114,998 shares of the insurance provider’s stock worth $227,624,000 after purchasing an additional 15,372 shares during the last quarter. Sei Investments Co. grew its stake in shares of Reinsurance Group of America by 1.0% during the first quarter. Sei Investments Co. now owns 837,391 shares of the insurance provider’s stock valued at $170,960,000 after buying an additional 8,221 shares during the last quarter. First Trust Advisors LP grew its position in Reinsurance Group of America by 5.1% during the 1st quarter. First Trust Advisors LP now owns 479,000 shares of the insurance provider’s stock worth $97,793,000 after acquiring an additional 23,105 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Reinsurance Group of America by 0.6% in the 1st quarter. Bank of New York Mellon Corp now owns 417,970 shares of the insurance provider’s stock worth $85,333,000 after purchasing an additional 2,493 shares during the period. Institutional investors own 95.11% of the company’s stock.

Insider Buying and Selling

In related news, EVP Jonathan Porter sold 8,589 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $246.30, for a total value of $2,115,470.70. Following the completion of the sale, the executive vice president directly owned 14,885 shares of the company’s stock, valued at approximately $3,666,175.50. This represents a 36.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.60% of the stock is currently owned by insiders.

Reinsurance Group of America Stock Performance

NYSE:RGA traded up $1.81 during trading hours on Tuesday, reaching $268.61. The company had a trading volume of 85,859 shares, compared to its average volume of 373,703. The firm has a market cap of $17.54 billion, a price-to-earnings ratio of 11.80 and a beta of 0.45. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.41. The firm’s 50 day moving average price is $249.80 and its 200-day moving average price is $228.46. Reinsurance Group of America, Incorporated has a 52 week low of $178.21 and a 52 week high of $270.32.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results on Thursday, August 6th. The insurance provider reported $8.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.50 by $2.39. The business had revenue of $6.64 billion during the quarter, compared to the consensus estimate of $6.67 billion. Reinsurance Group of America had a return on equity of 14.78% and a net margin of 5.81%. The business’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same period in the previous year, the company posted $4.72 EPS. On average, analysts forecast that Reinsurance Group of America, Incorporated will post 29.75 EPS for the current year.

Reinsurance Group of America Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th were given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 1.5%. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.93. The ex-dividend date was Tuesday, August 18th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 17.22%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RGA. Wells Fargo & Company increased their target price on shares of Reinsurance Group of America from $291.00 to $292.00 and gave the stock an “overweight” rating in a report on Monday, October 12th. UBS Group upgraded shares of Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. Morgan Stanley upgraded Reinsurance Group of America from an “equal weight” rating to an “overweight” rating and set a $295.00 target price for the company in a research note on Monday, September 28th. JPMorgan Chase & Co. boosted their target price on shares of Reinsurance Group of America from $293.00 to $297.00 and gave the company an “overweight” rating in a report on Thursday, October 15th. Finally, TD Cowen boosted their price objective on shares of Reinsurance Group of America from $212.00 to $235.00 and gave the stock a “hold” rating in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $268.33.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated (NYSE:RGA) is a global provider of life and health reinsurance. The company works with insurance carriers to help them manage mortality, longevity, morbidity and other insurance risks, while supporting the development and distribution of life and health insurance products.

RGA’s offerings include traditional life reinsurance, including term, whole life and universal life coverage, as well as health reinsurance and financial solutions. Its financial solutions business provides capital management, asset-intensive reinsurance, longevity and other risk-management arrangements designed to help insurers manage their balance sheets and meet changing customer and regulatory needs.

Founded in 1973 as part of General American Life Insurance Company, RGA became an independent public company in 1993.