GAM Holding AG boosted its position in Reinsurance Group of America Inc (NYSE:RGA) by 23.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,425 shares of the insurance provider’s stock after buying an additional 1,581 shares during the quarter. GAM Holding AG’s holdings in Reinsurance Group of America were worth $1,125,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in RGA. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Reinsurance Group of America in the second quarter valued at approximately $2,325,000. Cubist Systematic Strategies LLC boosted its stake in Reinsurance Group of America by 65.2% in the first quarter. Cubist Systematic Strategies LLC now owns 19,056 shares of the insurance provider’s stock valued at $2,935,000 after acquiring an additional 7,520 shares during the period. KAMES CAPITAL plc acquired a new position in Reinsurance Group of America in the second quarter valued at approximately $1,625,000. First Trust Advisors LP boosted its stake in Reinsurance Group of America by 41.6% in the second quarter. First Trust Advisors LP now owns 201,005 shares of the insurance provider’s stock valued at $26,830,000 after acquiring an additional 59,028 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Reinsurance Group of America by 128.1% in the first quarter. JPMorgan Chase & Co. now owns 429,610 shares of the insurance provider’s stock valued at $66,161,000 after acquiring an additional 241,256 shares during the period. 91.87% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE RGA opened at $143.00 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.12 and a quick ratio of 0.12. The company has a market cap of $9.17 billion, a PE ratio of 13.19 and a beta of 0.83. Reinsurance Group of America Inc has a 12-month low of $126.62 and a 12-month high of $165.12.
Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, July 26th. The insurance provider reported $3.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.14 by ($0.04). The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.24 billion. Reinsurance Group of America had a return on equity of 7.99% and a net margin of 13.72%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.95 earnings per share. analysts predict that Reinsurance Group of America Inc will post 11.28 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 28th. Stockholders of record on Tuesday, August 7th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, August 6th. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.50. This represents a $2.40 annualized dividend and a dividend yield of 1.68%. Reinsurance Group of America’s payout ratio is currently 22.14%.
RGA has been the subject of a number of research reports. ValuEngine downgraded Reinsurance Group of America from a “buy” rating to a “hold” rating in a research note on Saturday, June 2nd. Royal Bank of Canada restated a “hold” rating and issued a $150.00 target price on shares of Reinsurance Group of America in a research note on Friday, July 27th. Zacks Investment Research downgraded Reinsurance Group of America from a “hold” rating to a “sell” rating in a research note on Tuesday, July 3rd. Wells Fargo & Co set a $165.00 target price on Reinsurance Group of America and gave the company a “hold” rating in a research note on Thursday, June 7th. Finally, Credit Suisse Group decreased their target price on Reinsurance Group of America from $155.00 to $144.00 and set a “neutral” rating for the company in a research note on Friday, August 17th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $150.11.
In other Reinsurance Group of America news, Director John J. Gauthier acquired 1,000 shares of Reinsurance Group of America stock in a transaction dated Tuesday, July 31st. The stock was acquired at an average cost of $140.19 per share, for a total transaction of $140,190.00. Following the completion of the transaction, the director now owns 2,000 shares in the company, valued at approximately $280,380. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.47% of the company’s stock.
About Reinsurance Group of America
Reinsurance Group of America, Incorporated engages in reinsurance business. It offers individual and group life and health insurance products, including term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products, as well as asset-intensive and financial reinsurance products.
Further Reading: Stock Symbols and CUSIP Explained
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