Edgestream Partners L.P. Takes Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

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

Several other hedge funds and other institutional investors have also recently modified their holdings of RGA. Janney Montgomery Scott LLC increased its position in shares of Reinsurance Group of America by 7.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 7,961 shares of the insurance provider’s stock valued at $1,288,000 after buying an additional 539 shares during the period. Quadrant Capital Group LLC increased its position in shares of Reinsurance Group of America by 33.2% in the fourth quarter. Quadrant Capital Group LLC now owns 582 shares of the insurance provider’s stock worth $94,000 after purchasing an additional 145 shares during the last quarter. Norges Bank bought a new position in shares of Reinsurance Group of America in the fourth quarter worth approximately $122,301,000. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of Reinsurance Group of America by 454.0% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,770 shares of the insurance provider’s stock worth $448,000 after purchasing an additional 2,270 shares during the last quarter. Finally, UBS Group AG increased its position in shares of Reinsurance Group of America by 64.7% in the fourth quarter. UBS Group AG now owns 115,271 shares of the insurance provider’s stock worth $18,649,000 after purchasing an additional 45,303 shares during the last quarter. 95.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RGA. StockNews.com cut shares of Reinsurance Group of America from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th. Citigroup upped their price objective on shares of Reinsurance Group of America from $194.00 to $252.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada upped 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 report on Monday, August 5th. Wells Fargo & Company upped their price objective on shares of Reinsurance Group of America from $236.00 to $239.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Finally, Jefferies Financial Group upped 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 research report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Reinsurance Group of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $223.33.

Reinsurance Group of America Stock Performance

NYSE:RGA opened at $219.62 on Friday. The firm has a market cap of $14.45 billion, a PE 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. 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 business has a 50 day moving average price of $212.96 and a 200-day moving average price of $203.22.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 earnings per share for the quarter, beating analysts’ consensus estimates of $4.94 by $0.54. The firm had revenue of $4.88 billion during 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%. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.40 earnings per share. Equities research analysts predict that Reinsurance Group of America, Incorporated will post 21.7 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

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