Arrowstreet Capital Limited Partnership Raises Holdings in Reinsurance Group of America, Incorporated $RGA

Arrowstreet Capital Limited Partnership lifted its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 44.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 335,734 shares of the insurance provider’s stock after purchasing an additional 102,698 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.51% of Reinsurance Group of America worth $68,543,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Inceptionr LLC boosted its holdings in shares of Reinsurance Group of America by 203.1% in the first quarter. Inceptionr LLC now owns 5,874 shares of the insurance provider’s stock valued at $1,199,000 after acquiring an additional 3,936 shares during the period. Liberty One Investment Management LLC raised its holdings in shares of Reinsurance Group of America by 11.9% in the first quarter. Liberty One Investment Management LLC now owns 3,243 shares of the insurance provider’s stock valued at $662,000 after buying an additional 346 shares during the last quarter. Bank of Nova Scotia raised its holdings in shares of Reinsurance Group of America by 140.3% in the first quarter. Bank of Nova Scotia now owns 21,600 shares of the insurance provider’s stock valued at $4,410,000 after buying an additional 12,611 shares during the last quarter. Sei Investments Co. boosted 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 worth $170,960,000 after buying an additional 8,221 shares during the period. Finally, Keynote Financial Services LLC boosted its stake in shares of Reinsurance Group of America by 5.8% during the first quarter. Keynote Financial Services LLC now owns 2,104 shares of the insurance provider’s stock worth $430,000 after buying an additional 116 shares during the period. 95.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RGA has been the subject of several analyst reports. UBS Group raised Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a research note on Friday. Wells Fargo & Company boosted their target price on Reinsurance Group of America from $261.00 to $269.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. JPMorgan Chase & Co. upped their price target on Reinsurance Group of America from $270.00 to $286.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Evercore reaffirmed an “outperform” rating and set a $267.00 price target on shares of Reinsurance Group of America in a report on Monday, May 18th. Finally, TD Cowen lifted their price objective on shares of Reinsurance Group of America from $212.00 to $235.00 and gave the company a “hold” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $255.00.

Insider Activity

In other Reinsurance Group of America news, EVP John W. Hayden sold 414 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $214.95, for a total transaction of $88,989.30. Following the transaction, the executive vice president directly owned 20,949 shares in the company, valued at approximately $4,502,987.55. This represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Ronald Herrmann sold 7,000 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $210.58, for a total transaction of $1,474,060.00. Following the completion of the transaction, the executive vice president directly owned 3,938 shares of the company’s stock, valued at approximately $829,264.04. This trade represents a 64.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is owned by company insiders.

Reinsurance Group of America Stock Performance

Shares of RGA stock opened at $238.93 on Monday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46. The stock has a 50 day simple moving average of $216.78 and a 200-day simple moving average of $210.87. The company has a market cap of $15.65 billion, a price-to-earnings ratio of 12.94 and a beta of 0.47. Reinsurance Group of America, Incorporated has a 12-month low of $165.52 and a 12-month high of $245.00.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Thursday, May 7th. The insurance provider reported $6.97 earnings per share for the quarter, beating analysts’ consensus estimates of $6.03 by $0.94. The firm 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%.The company’s revenue for the quarter was up 23.5% compared to the same quarter last year. During the same period in the previous year, the business earned $5.66 earnings per share. On average, equities analysts forecast that Reinsurance Group of America, Incorporated will post 26.84 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th were paid a $0.93 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $3.72 annualized dividend and a dividend yield of 1.6%. Reinsurance Group of America’s dividend payout ratio (DPR) is 20.15%.

Reinsurance Group of America 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.