Walleye Capital LLC Purchases New Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Walleye Capital LLC acquired a new stake in Reinsurance Group of America, Incorporated (NYSE:RGAGet Rating) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 5,908 shares of the insurance provider’s stock, valued at approximately $647,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Front Row Advisors LLC increased its position in Reinsurance Group of America by 49.2% in the 1st quarter. Front Row Advisors LLC now owns 291 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 96 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in Reinsurance Group of America in the 1st quarter valued at about $34,000. Tyler Stone Wealth Management acquired a new stake in Reinsurance Group of America in the 4th quarter valued at about $37,000. Quent Capital LLC acquired a new stake in Reinsurance Group of America in the 4th quarter valued at about $40,000. Finally, Parkside Financial Bank & Trust increased its position in Reinsurance Group of America by 47.8% in the 1st quarter. Parkside Financial Bank & Trust now owns 368 shares of the insurance provider’s stock valued at $40,000 after acquiring an additional 119 shares in the last quarter. Institutional investors and hedge funds own 97.41% of the company’s stock.

Reinsurance Group of America Stock Down 1.7 %

Reinsurance Group of America stock opened at $128.06 on Wednesday. The company’s 50 day simple moving average is $123.45 and its 200 day simple moving average is $117.15. Reinsurance Group of America, Incorporated has a fifty-two week low of $94.32 and a fifty-two week high of $132.80. The firm has a market capitalization of $8.58 billion, a price-to-earnings ratio of 32.28 and a beta of 0.95. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.12 and a quick ratio of 0.12.

Reinsurance Group of America (NYSE:RGAGet Rating) last released its quarterly earnings data on Thursday, August 4th. The insurance provider reported $5.78 earnings per share for the quarter, topping the consensus estimate of $2.70 by $3.08. Reinsurance Group of America had a net margin of 1.66% and a return on equity of 3.02%. During the same quarter last year, the business posted $4.00 EPS. As a group, sell-side analysts anticipate that Reinsurance Group of America, Incorporated will post 13.08 EPS for the current year.

Reinsurance Group of America Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 30th. Shareholders of record on Tuesday, August 16th were paid a $0.80 dividend. The ex-dividend date was Monday, August 15th. This represents a $3.20 dividend on an annualized basis and a yield of 2.50%. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.73. Reinsurance Group of America’s payout ratio is presently 80.60%.

Insider Buying and Selling at Reinsurance Group of America

In other Reinsurance Group of America news, CFO Todd C. Larson sold 2,729 shares of Reinsurance Group of America stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $131.15, for a total value of $357,908.35. Following the transaction, the chief financial officer now owns 36,921 shares of the company’s stock, valued at $4,842,189.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on RGA. JPMorgan Chase & Co. raised their price objective on shares of Reinsurance Group of America from $131.00 to $136.00 in a research report on Monday, July 11th. Morgan Stanley lifted their price target on shares of Reinsurance Group of America from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 17th. Credit Suisse Group upgraded shares of Reinsurance Group of America from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $80.00 to $122.00 in a research report on Thursday, June 2nd. StockNews.com cut shares of Reinsurance Group of America from a “buy” rating to a “hold” rating in a research report on Wednesday, September 14th. Finally, Barclays lifted their price target on shares of Reinsurance Group of America from $120.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 16th. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $129.27.

Reinsurance Group of America Profile

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Reinsurance Group of America, Incorporated engages in reinsurance business. It 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.

Further Reading

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

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