Crestline Management LP Purchases New Position in Reinsurance Group of America Inc (RGA)

Crestline Management LP purchased a new position in Reinsurance Group of America Inc (NYSE:RGA) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 29,230 shares of the insurance provider’s stock, valued at approximately $4,099,000. Reinsurance Group of America accounts for about 0.6% of Crestline Management LP’s holdings, making the stock its 16th largest holding.

A number of other hedge funds also recently bought and sold shares of RGA. Toronto Dominion Bank increased its position in Reinsurance Group of America by 9.1% during the third quarter. Toronto Dominion Bank now owns 7,011 shares of the insurance provider’s stock worth $1,013,000 after buying an additional 584 shares during the last quarter. Commonwealth Bank of Australia boosted its holdings in shares of Reinsurance Group of America by 8.6% during the third quarter. Commonwealth Bank of Australia now owns 13,860 shares of the insurance provider’s stock worth $2,000,000 after acquiring an additional 1,100 shares during the period. Eagle Asset Management Inc. boosted its holdings in shares of Reinsurance Group of America by 12.4% during the third quarter. Eagle Asset Management Inc. now owns 19,841 shares of the insurance provider’s stock worth $2,784,000 after acquiring an additional 2,194 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Reinsurance Group of America by 0.5% during the third quarter. Alliancebernstein L.P. now owns 1,501,467 shares of the insurance provider’s stock worth $217,052,000 after acquiring an additional 8,180 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Reinsurance Group of America by 1.0% during the third quarter. Bank of New York Mellon Corp now owns 1,045,892 shares of the insurance provider’s stock worth $151,194,000 after acquiring an additional 10,563 shares during the period. 91.83% of the stock is currently owned by institutional investors.

Shares of NYSE:RGA opened at $145.31 on Friday. Reinsurance Group of America Inc has a 12-month low of $127.84 and a 12-month high of $163.00. The company has a market cap of $9.13 billion, a PE ratio of 11.99 and a beta of 0.67. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.13 and a quick ratio of 0.13.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Monday, January 28th. The insurance provider reported $3.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.38 by $0.08. Reinsurance Group of America had a return on equity of 9.11% and a net margin of 5.56%. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter in the previous year, the company posted $2.60 earnings per share. The business’s revenue was up 1.4% on a year-over-year basis. As a group, sell-side analysts predict that Reinsurance Group of America Inc will post 13.13 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 28th. Stockholders of record on Thursday, February 7th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date was Wednesday, February 6th. Reinsurance Group of America’s dividend payout ratio is presently 19.80%.

Reinsurance Group of America announced that its Board of Directors has initiated a stock repurchase plan on Monday, January 28th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the insurance provider to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

A number of equities research analysts have recently issued reports on RGA shares. Zacks Investment Research upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating and set a $161.00 price objective for the company in a report on Wednesday. Royal Bank of Canada upgraded Reinsurance Group of America from a “sector perform” rating to an “outperform” rating and set a $165.00 price objective for the company in a report on Tuesday, December 11th. Finally, ValuEngine cut Reinsurance Group of America from a “hold” rating to a “sell” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. Reinsurance Group of America currently has an average rating of “Hold” and a consensus price target of $144.83.

In related news, CFO Todd C. Larson sold 4,836 shares of the business’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $144.39, for a total value of $698,270.04. Following the completion of the sale, the chief financial officer now directly owns 32,079 shares in the company, valued at $4,631,886.81. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Alan C. Henderson sold 947 shares of the business’s stock in a transaction that occurred on Wednesday, February 13th. The shares were sold at an average price of $145.00, for a total value of $137,315.00. Following the completion of the sale, the director now owns 18,915 shares of the company’s stock, valued at $2,742,675. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,533 shares of company stock valued at $1,662,897. Corporate insiders own 0.69% of the company’s stock.

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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.

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

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