Interval Partners LP Sells 39,237 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Interval Partners LP reduced its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 68.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,689 shares of the insurance provider’s stock after selling 39,237 shares during the period. Interval Partners LP’s holdings in Reinsurance Group of America were worth $3,631,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in shares of Reinsurance Group of America in the 2nd quarter valued at approximately $28,000. Family Firm Inc. bought a new stake in shares of Reinsurance Group of America during the 2nd quarter valued at $29,000. New Covenant Trust Company N.A. purchased a new stake in shares of Reinsurance Group of America in the 1st quarter worth about $28,000. Rise Advisors LLC bought a new position in shares of Reinsurance Group of America in the 1st quarter worth about $29,000. Finally, LRI Investments LLC purchased a new position in Reinsurance Group of America during the 1st quarter valued at about $33,000. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Reinsurance Group of America Trading Up 0.3 %

Reinsurance Group of America stock opened at $220.25 on Tuesday. The business has a 50-day simple moving average of $213.08 and a two-hundred day simple moving average of $203.80. Reinsurance Group of America, Incorporated has a 52-week low of $140.39 and a 52-week high of $227.87. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.52. The company has a market cap of $14.49 billion, a P/E ratio of 17.11 and a beta of 0.91.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, beating analysts’ consensus estimates of $4.94 by $0.54. The business had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $5.07 billion. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The firm’s revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the company earned $4.40 earnings per share. Analysts predict that Reinsurance Group of America, Incorporated will post 21.7 EPS for the current year.

Reinsurance Group of America Increases Dividend

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

Insider Buying and Selling at Reinsurance Group of America

In other news, EVP William L. Hutton sold 1,209 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $218.97, for a total value of $264,734.73. Following the transaction, the executive vice president now owns 12,357 shares of the company’s stock, valued at $2,705,812.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.37% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RGA. StockNews.com downgraded shares of Reinsurance Group of America from a “buy” rating to a “hold” rating in a research note on Thursday, September 5th. Piper Sandler lifted their price objective on Reinsurance Group of America from $228.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, June 28th. UBS Group increased their target price on Reinsurance Group of America from $223.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Royal Bank of Canada increased their price objective on shares of Reinsurance Group of America from $225.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, Jefferies Financial Group increased their price target on shares of Reinsurance Group of America from $63.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $223.33.

Reinsurance Group of America 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.