Engineers Gate Manager LP Invests $1.86 Million in Reinsurance Group of America (RGA) Stock

Engineers Gate Manager LP purchased a new position in Reinsurance Group of America (NYSE:RGA) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 12,091 shares of the insurance provider’s stock, valued at approximately $1,862,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Asset Management Company LTD grew its holdings in Reinsurance Group of America by 103.3% in the fourth quarter. Sumitomo Mitsui Asset Management Company LTD now owns 35,441 shares of the insurance provider’s stock worth $5,526,000 after purchasing an additional 18,008 shares during the last quarter. Investec Asset Management LTD grew its holdings in Reinsurance Group of America by 130.2% in the fourth quarter. Investec Asset Management LTD now owns 154,701 shares of the insurance provider’s stock worth $24,123,000 after purchasing an additional 87,495 shares during the last quarter. Commerce Bank grew its holdings in Reinsurance Group of America by 7.0% in the fourth quarter. Commerce Bank now owns 15,187 shares of the insurance provider’s stock worth $2,368,000 after purchasing an additional 1,000 shares during the last quarter. MML Investors Services LLC grew its holdings in Reinsurance Group of America by 115.7% in the fourth quarter. MML Investors Services LLC now owns 3,249 shares of the insurance provider’s stock worth $507,000 after purchasing an additional 1,743 shares during the last quarter. Finally, UBS Asset Management Americas Inc. grew its holdings in Reinsurance Group of America by 15.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 384,736 shares of the insurance provider’s stock worth $59,992,000 after purchasing an additional 50,371 shares during the last quarter. 93.47% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have issued reports on RGA shares. Zacks Investment Research raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating and set a $179.00 price target on the stock in a report on Monday, March 19th. Wells Fargo set a $165.00 price target on shares of Reinsurance Group of America and gave the stock a “hold” rating in a report on Thursday, April 26th. UBS initiated coverage on shares of Reinsurance Group of America in a report on Friday, March 2nd. They set a “neutral” rating and a $168.00 price objective on the stock. Credit Suisse Group initiated coverage on shares of Reinsurance Group of America in a report on Wednesday, April 25th. They set a “neutral” rating and a $164.00 price objective on the stock. Finally, Morgan Stanley dropped their price objective on shares of Reinsurance Group of America from $138.00 to $135.00 and set an “underweight” rating on the stock in a report on Thursday, April 5th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $159.78.

In other Reinsurance Group of America news, EVP Timothy T. Matson bought 300 shares of the firm’s stock in a transaction that occurred on Tuesday, May 1st. The stock was bought at an average cost of $149.15 per share, for a total transaction of $44,745.00. Following the completion of the transaction, the executive vice president now directly owns 2,095 shares of the company’s stock, valued at approximately $312,469.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alain Neemeh sold 2,955 shares of the business’s stock in a transaction on Monday, May 7th. The shares were sold at an average price of $153.66, for a total transaction of $454,065.30. Following the transaction, the executive vice president now owns 37,492 shares of the company’s stock, valued at $5,761,020.72. The disclosure for this sale can be found here. 1.47% of the stock is owned by insiders.

Shares of RGA opened at $150.35 on Friday. The firm has a market cap of $9.71 billion, a PE ratio of 14.20, a P/E/G ratio of 1.45 and a beta of 0.75. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.12 and a current ratio of 0.12. Reinsurance Group of America has a 1-year low of $149.74 and a 1-year high of $151.04.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings data on Thursday, April 26th. The insurance provider reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.87). The company had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Reinsurance Group of America had a net margin of 14.01% and a return on equity of 8.04%. Reinsurance Group of America’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the firm earned $1.86 earnings per share. sell-side analysts anticipate that Reinsurance Group of America will post 11.56 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 29th. Stockholders of record on Tuesday, May 8th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date is Monday, May 7th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 18.45%.

Reinsurance Group of America Profile

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.

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Institutional Ownership by Quarter for Reinsurance Group of America (NYSE:RGA)

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