Algebris UK Ltd. Makes New $10.75 Million Investment in Reinsurance Group of America, Incorporated $RGA

Algebris UK Ltd. bought a new position in Reinsurance Group of America, Incorporated (NYSE:RGA) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 55,992 shares of the insurance provider’s stock, valued at approximately $10,750,000. Algebris UK Ltd. owned 0.08% of Reinsurance Group of America at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Millstone Evans Group LLC raised its holdings 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 in the last quarter. Root Financial Partners LLC bought a new stake in shares of Reinsurance Group of America in the 3rd quarter worth about $33,000. Oakworth Capital Inc. raised its stake in shares of Reinsurance Group of America by 32.4% in the 2nd quarter. Oakworth Capital Inc. now owns 245 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 60 shares in the last quarter. IFP Advisors Inc grew its stake in Reinsurance Group of America by 93.9% in the second quarter. IFP Advisors Inc now owns 285 shares of the insurance provider’s stock worth $57,000 after purchasing an additional 138 shares in the last quarter. Finally, Employees Retirement System of Texas acquired a new position in Reinsurance Group of America in the second quarter worth about $57,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on RGA shares. Piper Sandler upped their price objective on Reinsurance Group of America from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Tuesday, December 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Reinsurance Group of America in a report on Monday, December 29th. Wells Fargo & Company upped their price target on Reinsurance Group of America from $237.00 to $238.00 and gave the company an “overweight” rating in a research report on Tuesday, January 13th. Raymond James Financial cut Reinsurance Group of America from a “market perform” rating to an “underperform” rating in a research note on Friday, October 17th. Finally, Morgan Stanley set a $208.00 target price on shares of Reinsurance Group of America in a research note on Monday, December 15th. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $238.67.

Reinsurance Group of America Stock Down 0.6%

RGA stock opened at $194.98 on Monday. The stock has a market cap of $12.81 billion, a PE ratio of 15.00 and a beta of 0.55. The firm’s 50-day simple moving average is $197.41 and its 200 day simple moving average is $193.07. Reinsurance Group of America, Incorporated has a fifty-two week low of $159.25 and a fifty-two week high of $232.97. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.44.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, October 30th. The insurance provider reported $6.37 EPS for the quarter, topping the consensus estimate of $5.80 by $0.57. Reinsurance Group of America had a net margin of 3.89% and a return on equity of 12.19%. The firm had revenue of $6.20 billion during the quarter, compared to analysts’ expectations of $6.02 billion. During the same quarter in the prior year, the firm earned $6.13 EPS. Reinsurance Group of America’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, sell-side analysts predict that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current year.

Reinsurance Group of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Investors of record on Tuesday, November 11th were given a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 1.9%. The ex-dividend date was Monday, November 10th. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 28.62%.

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.