SpiderRock Advisors LLC Acquires New Shares in Reinsurance Group of America, Incorporated (NYSE:RGA)

SpiderRock Advisors LLC bought a new position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,823 shares of the insurance provider’s stock, valued at approximately $336,000.

A number of other hedge funds also recently made changes to their positions in the stock. Louisiana State Employees Retirement System bought a new position in Reinsurance Group of America during the 4th quarter worth $2,993,000. International Assets Investment Management LLC boosted its holdings in Reinsurance Group of America by 16,078.1% in the fourth quarter. International Assets Investment Management LLC now owns 22,164 shares of the insurance provider’s stock worth $3,586,000 after acquiring an additional 22,027 shares in the last quarter. Raymond James & Associates raised its position in shares of Reinsurance Group of America by 13.0% during the fourth quarter. Raymond James & Associates now owns 244,771 shares of the insurance provider’s stock worth $39,599,000 after purchasing an additional 28,193 shares during the period. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Reinsurance Group of America by 93.8% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 22,655 shares of the insurance provider’s stock worth $3,289,000 after purchasing an additional 10,968 shares in the last quarter. Finally, Junto Capital Management LP acquired a new position in shares of Reinsurance Group of America during the fourth quarter valued at about $92,083,000. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Reinsurance Group of America from $220.00 to $235.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th. Raymond James upped their price objective on Reinsurance Group of America from $212.00 to $228.00 and gave the company a “strong-buy” rating in a research note on Friday, June 14th. Royal Bank of Canada restated an “outperform” rating and set a $225.00 price target on shares of Reinsurance Group of America in a research report on Friday, June 14th. JPMorgan Chase & Co. lifted their price objective on shares of Reinsurance Group of America from $195.00 to $208.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Piper Sandler raised their price target on shares of Reinsurance Group of America from $228.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, June 28th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Reinsurance Group of America currently has an average rating of “Moderate Buy” and an average price target of $221.18.

Reinsurance Group of America Price Performance

NYSE:RGA traded down $1.27 during trading hours on Friday, hitting $203.60. 145,440 shares of the stock traded hands, compared to its average volume of 348,943. The stock has a 50 day moving average price of $204.77 and a 200 day moving average price of $185.93. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.46. The company has a market cap of $13.39 billion, a price-to-earnings ratio of 15.80 and a beta of 0.92. Reinsurance Group of America, Incorporated has a 1 year low of $135.07 and a 1 year high of $213.21.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Friday, May 3rd. The insurance provider reported $6.02 earnings per share for the quarter, beating the consensus estimate of $4.55 by $1.47. Reinsurance Group of America had a net margin of 4.16% and a return on equity of 15.94%. The company had revenue of $6.34 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same period last year, the company posted $5.16 earnings per share. Sell-side analysts forecast that Reinsurance Group of America, Incorporated will post 20.94 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.67%. The ex-dividend date was Monday, May 13th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 26.42%.

Insider Activity at Reinsurance Group of America

In related news, EVP John W. Hayden sold 1,767 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $206.85, for a total value of $365,503.95. Following the completion of the sale, the executive vice president now directly owns 16,490 shares of the company’s stock, valued at $3,410,956.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.37% of the stock is currently owned by company insiders.

About Reinsurance Group of America

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.