Intech Investment Management LLC Makes New $4.57 Million Investment in Reinsurance Group of America, Incorporated (NYSE:RGA)

Intech Investment Management LLC purchased a new stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 22,277 shares of the insurance provider’s stock, valued at approximately $4,573,000.

Other hedge funds have also modified their holdings of the company. GHP Investment Advisors Inc. grew its stake in Reinsurance Group of America by 0.7% in the second quarter. GHP Investment Advisors Inc. now owns 9,462 shares of the insurance provider’s stock valued at $1,942,000 after purchasing an additional 62 shares in the last quarter. Covestor Ltd grew its stake in shares of Reinsurance Group of America by 20.3% in the 1st quarter. Covestor Ltd now owns 374 shares of the insurance provider’s stock valued at $72,000 after buying an additional 63 shares in the last quarter. Fiduciary Family Office LLC grew its stake in shares of Reinsurance Group of America by 3.1% in the 2nd quarter. Fiduciary Family Office LLC now owns 2,550 shares of the insurance provider’s stock valued at $523,000 after buying an additional 76 shares in the last quarter. GAMMA Investing LLC increased its holdings in Reinsurance Group of America by 16.5% in the second quarter. GAMMA Investing LLC now owns 559 shares of the insurance provider’s stock worth $115,000 after buying an additional 79 shares during the last quarter. Finally, Hilltop National Bank raised its position in Reinsurance Group of America by 13.1% during the second quarter. Hilltop National Bank now owns 706 shares of the insurance provider’s stock valued at $145,000 after acquiring an additional 82 shares in the last quarter. 95.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Barclays assumed coverage on shares of Reinsurance Group of America in a research note on Wednesday, September 4th. They set an “overweight” rating and a $255.00 price target on the stock. JPMorgan Chase & Co. raised their target price on Reinsurance Group of America from $208.00 to $220.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Evercore ISI upped their price target on Reinsurance Group of America from $225.00 to $241.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 26th. UBS Group raised their price objective on Reinsurance Group of America from $223.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Finally, Piper Sandler upped their target price on Reinsurance Group of America from $228.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, June 28th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $223.33.

Reinsurance Group of America Price Performance

NYSE:RGA opened at $219.62 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.17 and a quick ratio of 0.17. The stock has a market cap of $14.45 billion, a P/E ratio of 17.06 and a beta of 0.91. The company has a fifty day moving average price of $212.96 and a 200 day moving average price of $203.39. Reinsurance Group of America, Incorporated has a one year low of $140.39 and a one year 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 for the quarter, topping the consensus estimate of $4.94 by $0.54. The company had revenue of $4.88 billion for the quarter, compared to analyst estimates of $5.07 billion. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. During the same quarter last year, the firm earned $4.40 EPS. Reinsurance Group of America’s revenue for the quarter was up 17.4% compared to the same quarter last year. Analysts anticipate that Reinsurance Group of America, Incorporated will post 21.7 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were given a dividend of $0.89 per share. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Friday, August 9th. Reinsurance Group of America’s payout ratio is 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.