OP Asset Management Ltd Makes New Investment in Reinsurance Group of America, Incorporated $RGA

OP Asset Management Ltd bought a new stake in Reinsurance Group of America, Incorporated (NYSE:RGA) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,549 shares of the insurance provider’s stock, valued at approximately $725,000.

Other large investors have also recently made changes to their positions in the company. Activest Wealth Management purchased a new stake in Reinsurance Group of America in the 4th quarter worth about $30,000. Tobam grew its stake in shares of Reinsurance Group of America by 244.7% during the fourth quarter. Tobam now owns 162 shares of the insurance provider’s stock valued at $33,000 after buying an additional 115 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Reinsurance Group of America during the 4th quarter valued at $35,000. Advisory Services Network LLC purchased a new position in Reinsurance Group of America during the 3rd quarter valued at $38,000. Finally, Entrust Financial LLC bought a new position in Reinsurance Group of America in the 4th quarter valued at $40,000. 95.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on RGA shares. Morgan Stanley boosted their target price on shares of Reinsurance Group of America from $208.00 to $223.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Reinsurance Group of America from $264.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Reinsurance Group of America in a research report on Wednesday, May 13th. Evercore reaffirmed an “outperform” rating and set a $267.00 target price on shares of Reinsurance Group of America in a research report on Monday, May 18th. Finally, Piper Sandler decreased their price target on shares of Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Seven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Reinsurance Group of America has an average rating of “Moderate Buy” and an average price target of $251.25.

Insiders Place Their Bets

In related news, EVP John W. Hayden sold 414 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total transaction of $88,989.30. Following the completion of the sale, the executive vice president directly owned 20,949 shares in the company, valued at $4,502,987.55. This represents a 1.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Ronald Herrmann sold 7,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $210.58, for a total value of $1,474,060.00. Following the sale, the executive vice president directly owned 3,938 shares in the company, valued at approximately $829,264.04. The trade was a 64.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.60% of the company’s stock.

Reinsurance Group of America Trading Down 1.0%

NYSE:RGA opened at $212.67 on Wednesday. Reinsurance Group of America, Incorporated has a one year low of $165.52 and a one year high of $229.21. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.14 and a current ratio of 0.14. The firm has a market cap of $13.93 billion, a P/E ratio of 11.52 and a beta of 0.47. The firm has a 50-day simple moving average of $208.98 and a 200-day simple moving average of $207.38.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Thursday, May 7th. The insurance provider reported $6.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.03 by $0.94. The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.47 billion. Reinsurance Group of America had a net margin of 4.92% and a return on equity of 13.16%. The company’s quarterly revenue was up 23.5% on a year-over-year basis. During the same period last year, the firm earned $5.66 earnings per share. Equities analysts anticipate that Reinsurance Group of America, Incorporated will post 26.88 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 19th were given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Tuesday, May 19th. Reinsurance Group of America’s dividend payout ratio (DPR) is 20.15%.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.