OP Asset Management Ltd Buys New Stake in Reinsurance Group of America, Incorporated $RGA

OP Asset Management Ltd bought a new stake in Reinsurance Group of America, Incorporated (NYSE:RGA) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,549 shares of the insurance provider’s stock, valued at approximately $725,000.

Several other institutional investors and hedge funds have also bought and sold shares of RGA. Nordea Investment Management AB grew its stake in Reinsurance Group of America by 3.8% during the 4th quarter. Nordea Investment Management AB now owns 570,631 shares of the insurance provider’s stock worth $116,597,000 after buying an additional 20,722 shares during the last quarter. Tudor Investment Corp ET AL raised its stake in Reinsurance Group of America by 616.3% in the third quarter. Tudor Investment Corp ET AL now owns 60,870 shares of the insurance provider’s stock valued at $11,695,000 after buying an additional 52,372 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Reinsurance Group of America by 49.4% during the third quarter. Bank of Montreal Can now owns 252,159 shares of the insurance provider’s stock worth $48,447,000 after acquiring an additional 83,371 shares during the last quarter. AIA Group Ltd grew its stake in shares of Reinsurance Group of America by 218.5% during the third quarter. AIA Group Ltd now owns 12,072 shares of the insurance provider’s stock worth $2,319,000 after acquiring an additional 8,282 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Reinsurance Group of America by 34.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 21,293 shares of the insurance provider’s stock valued at $4,332,000 after purchasing an additional 5,500 shares during the last quarter. 95.11% of the stock is owned by hedge funds and other institutional investors.

Reinsurance Group of America Stock Down 1.0%

NYSE:RGA opened at $212.67 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.14 and a quick ratio of 0.14. The company’s fifty day moving average price is $208.98 and its 200-day moving average price is $207.38. Reinsurance Group of America, Incorporated has a 1-year low of $165.52 and a 1-year high of $229.21. The firm has a market capitalization of $13.93 billion, a P/E ratio of 11.52 and a beta of 0.47.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, May 7th. The insurance provider reported $6.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.03 by $0.94. Reinsurance Group of America had a net margin of 4.92% and a return on equity of 13.16%. The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.47 billion. During the same period in the previous year, the firm posted $5.66 earnings per share. The firm’s quarterly revenue was up 23.5% on a year-over-year basis. As a group, equities research analysts anticipate that Reinsurance Group of America, Incorporated will post 26.88 EPS for the current year.

Reinsurance Group of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 19th were paid a dividend of $0.93 per share. The ex-dividend date was Tuesday, May 19th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.7%. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 20.15%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on RGA shares. Wall Street Zen raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. UBS Group boosted their price objective on shares of Reinsurance Group of America from $216.00 to $220.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. Evercore reissued an “outperform” rating and issued a $267.00 target price on shares of Reinsurance Group of America in a research report on Monday, May 18th. JPMorgan Chase & Co. raised their target price on Reinsurance Group of America from $264.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Finally, Barclays lifted their price target on Reinsurance Group of America from $256.00 to $268.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $251.25.

Insider Activity

In other news, EVP John W. Hayden sold 414 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total value of $88,989.30. Following the completion of the transaction, the executive vice president owned 20,949 shares of the company’s stock, valued at $4,502,987.55. The trade was a 1.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Ronald Herrmann sold 7,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $210.58, for a total value of $1,474,060.00. Following the sale, the executive vice president directly owned 3,938 shares in the company, valued at approximately $829,264.04. This trade represents a 64.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.60% of the company’s stock.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.