Callodine Capital Management LP Has $13.76 Million Stock Position in Reinsurance Group of America, Incorporated $RGA

Callodine Capital Management LP grew its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 3,067.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 71,637 shares of the insurance provider’s stock after purchasing an additional 69,375 shares during the period. Reinsurance Group of America makes up approximately 1.2% of Callodine Capital Management LP’s holdings, making the stock its 29th largest holding. Callodine Capital Management LP owned approximately 0.11% of Reinsurance Group of America worth $13,764,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Millstone Evans Group LLC grew its position in Reinsurance Group of America by 82.4% in the third quarter. Millstone Evans Group LLC now owns 135 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 61 shares during the period. Root Financial Partners LLC acquired a new position in Reinsurance Group of America during the third quarter worth $33,000. LRI Investments LLC lifted its holdings in shares of Reinsurance Group of America by 41.2% during the third quarter. LRI Investments LLC now owns 264 shares of the insurance provider’s stock valued at $51,000 after acquiring an additional 77 shares during the period. Employees Retirement System of Texas acquired a new stake in shares of Reinsurance Group of America in the 2nd quarter valued at $57,000. Finally, Avalon Trust Co acquired a new stake in shares of Reinsurance Group of America in the 3rd quarter valued at $58,000. Institutional investors own 95.11% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RGA. Morgan Stanley increased their target price on shares of Reinsurance Group of America from $208.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 3rd. Wall Street Zen upgraded shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Reinsurance Group of America in a research note on Monday, December 29th. Barclays set a $245.00 target price on shares of Reinsurance Group of America and gave the company an “overweight” rating in a research note on Friday, February 6th. Finally, TD Cowen reissued a “hold” rating on shares of Reinsurance Group of America in a report on Wednesday, January 28th. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Reinsurance Group of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.57.

Reinsurance Group of America Trading Down 1.7%

RGA opened at $201.59 on Friday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $13.22 billion, a PE ratio of 11.36 and a beta of 0.50. Reinsurance Group of America, Incorporated has a 1-year low of $159.25 and a 1-year high of $229.21. The firm has a 50-day moving average price of $207.98 and a two-hundred day moving average price of $198.30.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Thursday, February 5th. The insurance provider reported $7.75 earnings per share for the quarter, topping analysts’ consensus estimates of $5.86 by $1.89. Reinsurance Group of America had a net margin of 4.99% and a return on equity of 12.99%. The company had revenue of $6.64 billion during the quarter, compared to the consensus estimate of $6.25 billion. During the same period in the previous year, the firm posted $4.99 earnings per share. The company’s revenue was up 26.6% on a year-over-year basis. As a group, equities analysts anticipate that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th were issued a dividend of $0.93 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $3.72 annualized dividend and a yield of 1.8%. Reinsurance Group of America’s dividend payout ratio is currently 20.96%.

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.