Quarry LP Invests $151,000 in Reinsurance Group of America, Incorporated (NYSE:RGA)

Quarry LP bought a new position in Reinsurance Group of America, Incorporated (NYSE:RGA) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 736 shares of the insurance provider’s stock, valued at approximately $151,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RGA. Pineridge Advisors LLC purchased a new position in Reinsurance Group of America in the 4th quarter worth $26,000. New Covenant Trust Company N.A. purchased a new position in Reinsurance Group of America in the 1st quarter worth $28,000. International Assets Investment Management LLC purchased a new position in Reinsurance Group of America in the 2nd quarter worth $28,000. Rise Advisors LLC purchased a new position in Reinsurance Group of America in the 1st quarter worth $29,000. Finally, Family Firm Inc. purchased a new position in Reinsurance Group of America in the 2nd quarter worth $29,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Price Performance

NYSE:RGA opened at $217.87 on Tuesday. Reinsurance Group of America, Incorporated has a 52 week low of $140.39 and a 52 week high of $227.87. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $14.33 billion, a PE ratio of 16.93 and a beta of 0.91. The stock’s 50-day moving average price is $213.44 and its 200-day moving average price is $205.00.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, beating analysts’ consensus estimates of $4.94 by $0.54. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. The firm had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same period last year, the firm earned $4.40 EPS. The company’s quarterly revenue was up 17.4% on a year-over-year basis. As a group, equities analysts expect that Reinsurance Group of America, Incorporated will post 21.7 EPS for the current fiscal 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 issued a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.63%. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Friday, August 9th. Reinsurance Group of America’s payout ratio is presently 27.66%.

Insider Buying and Selling

In related news, EVP William L. Hutton sold 1,209 shares of Reinsurance Group of America stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $218.97, for a total value of $264,734.73. Following the sale, the executive vice president now directly owns 12,357 shares in the company, valued at approximately $2,705,812.29. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.37% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

RGA has been the subject of a number of research analyst reports. StockNews.com upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Friday. Royal Bank of Canada increased their price target on 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. Jefferies Financial Group increased their price target on 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. Raymond James increased their price target on Reinsurance Group of America from $228.00 to $250.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. increased their price target on Reinsurance Group of America from $208.00 to $220.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Reinsurance Group of America has a consensus rating of “Moderate Buy” and a consensus price target of $225.17.

Reinsurance Group of America 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.