Edgestream Partners L.P. Purchases New Stake in Reinsurance Group of America, Incorporated (NYSE:RGA)

Edgestream Partners L.P. purchased a new stake in Reinsurance Group of America, Incorporated (NYSE:RGA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,530 shares of the insurance provider’s stock, valued at approximately $1,340,000.

Several other hedge funds have also bought and sold shares of the business. Earnest Partners LLC grew its position in Reinsurance Group of America by 4.2% in the 1st quarter. Earnest Partners LLC now owns 2,577,901 shares of the insurance provider’s stock valued at $497,226,000 after purchasing an additional 104,256 shares during the period. Sei Investments Co. grew its position in Reinsurance Group of America by 5.7% in the 1st quarter. Sei Investments Co. now owns 780,010 shares of the insurance provider’s stock valued at $150,448,000 after purchasing an additional 42,135 shares during the period. Norges Bank acquired a new stake in Reinsurance Group of America in the 4th quarter valued at $122,301,000. Jacobs Levy Equity Management Inc. grew its position in Reinsurance Group of America by 2.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 584,137 shares of the insurance provider’s stock valued at $112,668,000 after purchasing an additional 15,926 shares during the period. Finally, Junto Capital Management LP acquired a new stake in Reinsurance Group of America in the 4th quarter valued at $92,083,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RGA. UBS Group lifted their price objective on shares of Reinsurance Group of America from $223.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. StockNews.com downgraded shares of Reinsurance Group of America from a “buy” rating to a “hold” rating in a report on Thursday, September 5th. Barclays began coverage on shares of Reinsurance Group of America in a report on Wednesday, September 4th. They set an “overweight” rating and a $255.00 price objective on the stock. Evercore ISI lifted their price objective on shares of Reinsurance Group of America from $225.00 to $241.00 and gave the stock an “outperform” rating in a report on Wednesday, June 26th. Finally, Jefferies Financial Group lifted their price objective on shares of Reinsurance Group of America from $63.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $223.33.

Reinsurance Group of America Price Performance

Shares of NYSE:RGA opened at $219.62 on Friday. The company’s 50-day moving average is $212.96 and its 200 day moving average is $203.22. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.17 and a current ratio of 0.17. The company has a market capitalization of $14.45 billion, a P/E ratio of 17.06 and a beta of 0.91. Reinsurance Group of America, Incorporated has a fifty-two week low of $140.39 and a fifty-two week high of $227.87.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.94 by $0.54. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. The business had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same period in the previous year, the business posted $4.40 EPS. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. On average, equities research analysts forecast that Reinsurance Group of America, Incorporated will post 21.7 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were paid a $0.89 dividend. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date was Friday, August 9th. Reinsurance Group of America’s payout ratio is currently 27.66%.

Reinsurance Group of America Company 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.