Interval Partners LP Cuts Stock Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Interval Partners LP trimmed its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 68.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. International Assets Investment Management LLC purchased a new position in Reinsurance Group of America in the 2nd quarter worth approximately $28,000. Family Firm Inc. bought a new stake in shares of Reinsurance Group of America during the second quarter valued at approximately $29,000. New Covenant Trust Company N.A. purchased a new position in shares of Reinsurance Group of America in the first quarter worth $28,000. Rise Advisors LLC bought a new position in shares of Reinsurance Group of America during the first quarter worth $29,000. Finally, LRI Investments LLC purchased a new position in Reinsurance Group of America during the first quarter valued at $33,000. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Trading Up 0.3 %

RGA opened at $220.25 on Tuesday. 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 stock has a market cap of $14.49 billion, a price-to-earnings ratio of 17.11 and a beta of 0.91. The stock’s 50 day moving average price is $213.08 and its 200-day moving average price is $203.80.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same period in the prior year, the business posted $4.40 earnings per share. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. On average, equities analysts forecast that Reinsurance Group of America, Incorporated will post 21.7 EPS for the current year.

Reinsurance Group of America Increases Dividend

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

Wall Street Analyst Weigh In

RGA has been the subject of several research reports. Wells Fargo & Company increased their price objective on shares of Reinsurance Group of America from $236.00 to $239.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Morgan Stanley reduced their price objective on Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Evercore ISI increased their target price on Reinsurance Group of America from $225.00 to $241.00 and gave the company an “outperform” rating in a research report on Wednesday, June 26th. Jefferies Financial Group boosted their price target 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. Finally, 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. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $223.33.

Insiders Place Their Bets

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

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.