GAMMA Investing LLC Acquires New Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

GAMMA Investing LLC bought a new position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 473 shares of the insurance provider’s stock, valued at approximately $82,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Adage Capital Partners GP L.L.C. raised its stake in Reinsurance Group of America by 966.7% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 320,000 shares of the insurance provider’s stock valued at $46,461,000 after purchasing an additional 290,000 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Reinsurance Group of America by 33.5% during the third quarter. AQR Capital Management LLC now owns 709,359 shares of the insurance provider’s stock worth $102,992,000 after buying an additional 177,812 shares in the last quarter. American Century Companies Inc. raised its position in shares of Reinsurance Group of America by 7.3% in the third quarter. American Century Companies Inc. now owns 2,605,471 shares of the insurance provider’s stock valued at $378,288,000 after buying an additional 177,299 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Reinsurance Group of America by 63.6% during the third quarter. Envestnet Asset Management Inc. now owns 347,114 shares of the insurance provider’s stock valued at $50,397,000 after buying an additional 134,997 shares during the period. Finally, Vanguard Group Inc. boosted its position in Reinsurance Group of America by 1.5% during the third quarter. Vanguard Group Inc. now owns 7,350,810 shares of the insurance provider’s stock worth $1,067,264,000 after acquiring an additional 110,877 shares during the last quarter. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Insider Activity at Reinsurance Group of America

In other Reinsurance Group of America news, CFO Todd C. Larson sold 2,966 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $182.88, for a total value of $542,422.08. Following the sale, the chief financial officer now directly owns 49,549 shares in the company, valued at $9,061,521.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP William L. Hutton sold 1,908 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $181.84, for a total transaction of $346,950.72. Following the completion of the sale, the executive vice president now directly owns 13,363 shares of the company’s stock, valued at approximately $2,429,927.92. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Todd C. Larson sold 2,966 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $182.88, for a total transaction of $542,422.08. Following the completion of the sale, the chief financial officer now directly owns 49,549 shares in the company, valued at $9,061,521.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,462 shares of company stock worth $1,162,239. 1.37% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RGA. Keefe, Bruyette & Woods boosted their price target on Reinsurance Group of America from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. JPMorgan Chase & Co. increased their target price on Reinsurance Group of America from $170.00 to $189.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. UBS Group raised their price target on Reinsurance Group of America from $198.00 to $223.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Morgan Stanley upped their price objective on shares of Reinsurance Group of America from $178.00 to $185.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Finally, Piper Sandler raised their target price on shares of Reinsurance Group of America from $195.00 to $220.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Reinsurance Group of America has an average rating of “Moderate Buy” and a consensus price target of $194.38.

Reinsurance Group of America Stock Up 0.4 %

Reinsurance Group of America stock opened at $189.54 on Tuesday. The company’s 50-day moving average price is $184.88 and its two-hundred day moving average price is $169.89. The stock has a market cap of $12.47 billion, a price-to-earnings ratio of 14.11 and a beta of 0.89. Reinsurance Group of America, Incorporated has a 52 week low of $133.13 and a 52 week high of $196.25. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.48.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings data on Friday, February 2nd. The insurance provider reported $4.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.40 by $0.33. Reinsurance Group of America had a net margin of 4.86% and a return on equity of 16.20%. The business had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter last year, the company posted $2.99 earnings per share. Reinsurance Group of America’s quarterly revenue was up 14.9% on a year-over-year basis. On average, analysts expect that Reinsurance Group of America, Incorporated will post 19.41 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend was Monday, February 12th. Reinsurance Group of America’s payout ratio is 25.32%.

Reinsurance Group of America Profile

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.