SEB Asset Management AB Purchases New Position in Reinsurance Group of America, Incorporated $RGA

SEB Asset Management AB purchased a new position in Reinsurance Group of America, Incorporated (NYSE:RGA) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 399,361 shares of the insurance provider’s stock, valued at approximately $81,533,000.

Other large investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in Reinsurance Group of America by 148.4% during the fourth quarter. AQR Capital Management LLC now owns 1,652,102 shares of the insurance provider’s stock valued at $336,137,000 after purchasing an additional 987,014 shares during the period. Norges Bank purchased a new position in shares of Reinsurance Group of America in the 4th quarter worth approximately $173,767,000. Orion Porfolio Solutions LLC boosted its holdings in shares of Reinsurance Group of America by 6,076.4% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 602,503 shares of the insurance provider’s stock worth $119,512,000 after purchasing an additional 592,748 shares during the period. Adage Capital Partners GP L.L.C. bought a new position in shares of Reinsurance Group of America during the 2nd quarter valued at approximately $69,426,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of Reinsurance Group of America during the 3rd quarter valued at approximately $35,266,000. 95.11% of the stock is owned by institutional investors.

Insider Buying and Selling at Reinsurance Group of America

In related news, EVP John W. Hayden sold 414 shares of Reinsurance Group of America 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 sale, the executive vice president directly owned 20,949 shares in the company, valued at $4,502,987.55. The trade was a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Ronald Herrmann sold 7,000 shares of Reinsurance Group of America stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $210.58, for a total value of $1,474,060.00. Following the completion of the sale, the executive vice president owned 3,938 shares of the company’s stock, valued at $829,264.04. The trade was a 64.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

RGA has been the subject of a number of analyst reports. Piper Sandler lowered their price target on Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Reinsurance Group of America in a research note on Wednesday, May 13th. Wall Street Zen upgraded shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Evercore reissued an “outperform” rating and issued a $267.00 price objective on shares of Reinsurance Group of America in a research report on Monday, May 18th. Finally, Barclays raised their price objective on shares of Reinsurance Group of America from $268.00 to $278.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $255.50.

Reinsurance Group of America Stock Up 0.7%

Shares of NYSE RGA opened at $241.60 on Friday. Reinsurance Group of America, Incorporated has a 52-week low of $165.52 and a 52-week high of $244.30. The firm has a market capitalization of $15.83 billion, a price-to-earnings ratio of 13.09 and a beta of 0.47. The stock has a 50 day moving average price of $213.97 and a 200 day moving average price of $209.65. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.14 and a current ratio of 0.14.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Thursday, May 7th. The insurance provider reported $6.97 EPS for the quarter, topping the consensus estimate of $6.03 by $0.94. The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.47 billion. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.Reinsurance Group of America’s quarterly revenue was up 23.5% on a year-over-year basis. During the same period last year, the business posted $5.66 EPS. Sell-side analysts expect that Reinsurance Group of America, Incorporated will post 26.86 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders 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 annualized dividend and a dividend yield of 1.5%. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 20.15%.

Reinsurance Group of America Company Profile

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.