Pacer Advisors Inc. Increases Stake in Reinsurance Group of America, Incorporated (NYSE:RGA)

Pacer Advisors Inc. raised its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 17.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,614 shares of the insurance provider’s stock after acquiring an additional 1,698 shares during the quarter. Pacer Advisors Inc.’s holdings in Reinsurance Group of America were worth $2,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of RGA. Earnest Partners LLC lifted its position in Reinsurance Group of America by 4.2% during the first 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 in the last quarter. Sei Investments Co. grew its stake in shares of Reinsurance Group of America by 5.7% during the 1st quarter. Sei Investments Co. now owns 780,010 shares of the insurance provider’s stock valued at $150,448,000 after acquiring an additional 42,135 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings 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 worth $112,668,000 after acquiring an additional 15,926 shares in the last quarter. Junto Capital Management LP bought a new stake in Reinsurance Group of America during the 4th quarter worth approximately $92,083,000. Finally, Balyasny Asset Management L.P. purchased a new position in Reinsurance Group of America during the fourth quarter valued at approximately $67,177,000. Institutional investors own 95.11% of the company’s stock.

Insider Buying and Selling at Reinsurance Group of America

In other news, EVP William L. Hutton sold 1,209 shares of Reinsurance Group of America stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total value of $264,734.73. Following the completion of the transaction, the executive vice president now owns 12,357 shares in the company, valued at approximately $2,705,812.29. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.37% of the company’s stock.

Reinsurance Group of America Stock Down 0.4 %

NYSE RGA opened at $218.55 on Thursday. The stock has a 50 day moving average price of $213.26 and a 200-day moving average price of $204.16. Reinsurance Group of America, Incorporated has a one year low of $140.39 and a one year high of $227.87. 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 $14.38 billion, a P/E ratio of 16.98 and a beta of 0.91.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, beating the consensus estimate of $4.94 by $0.54. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The business had revenue of $4.88 billion during the quarter, compared to analyst estimates of $5.07 billion. During the same quarter last year, the business earned $4.40 earnings per share. Reinsurance Group of America’s quarterly revenue was up 17.4% compared to the same quarter last year. As a group, equities analysts predict that Reinsurance Group of America, Incorporated will post 21.7 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were paid a dividend of $0.89 per share. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 1.63%. The ex-dividend date was Friday, August 9th. Reinsurance Group of America’s payout ratio is presently 27.66%.

Wall Street Analysts Forecast Growth

RGA has been the subject of a number of analyst reports. Royal Bank of Canada increased their price objective on shares of Reinsurance Group of America from $225.00 to $235.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Jefferies Financial Group raised their price target on Reinsurance Group of America from $63.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Barclays started coverage on Reinsurance Group of America in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $255.00 price objective for the company. UBS Group lifted their target price 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, Citigroup upped their price target on Reinsurance Group of America from $194.00 to $252.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $225.17.

About Reinsurance Group of America

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.