Intech Investment Management LLC Reduces Position in Reinsurance Group of America, Incorporated $RGA

Intech Investment Management LLC decreased its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 58.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 23,916 shares of the insurance provider’s stock after selling 34,241 shares during the period. Intech Investment Management LLC’s holdings in Reinsurance Group of America were worth $4,866,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RGA. Orion Porfolio Solutions LLC lifted its holdings in Reinsurance Group of America by 6,076.4% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 602,503 shares of the insurance provider’s stock valued at $119,512,000 after buying an additional 592,748 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in Reinsurance Group of America during the 2nd quarter valued at about $69,426,000. American Century Companies Inc. lifted its holdings in Reinsurance Group of America by 15.9% during the 3rd quarter. American Century Companies Inc. now owns 2,369,057 shares of the insurance provider’s stock valued at $455,167,000 after buying an additional 324,239 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in Reinsurance Group of America during the 3rd quarter valued at about $35,266,000. Finally, AQR Capital Management LLC lifted its holdings in Reinsurance Group of America by 29.6% during the 2nd quarter. AQR Capital Management LLC now owns 799,675 shares of the insurance provider’s stock valued at $158,352,000 after buying an additional 182,729 shares in the last quarter. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Trading Up 0.0%

NYSE:RGA opened at $200.81 on Monday. 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 $13.15 billion, a P/E ratio of 10.88 and a beta of 0.47. The firm has a 50-day simple moving average of $208.09 and a 200-day simple moving average of $204.70.

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

Reinsurance Group of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 19th will be issued a $0.93 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $3.72 annualized dividend and a dividend yield of 1.9%. Reinsurance Group of America’s payout ratio is currently 20.15%.

Analyst Ratings Changes

A number of brokerages recently weighed in on RGA. Wells Fargo & Company lifted their price objective on shares of Reinsurance Group of America from $238.00 to $261.00 and gave the company an “overweight” rating in a report on Wednesday, February 25th. Barclays lifted their price objective on shares of Reinsurance Group of America from $256.00 to $268.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Evercore reiterated an “outperform” rating and set a $267.00 price objective on shares of Reinsurance Group of America in a report on Monday, May 18th. 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. Finally, Wall Street Zen upgraded shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $251.25.

Insider Activity

In other news, EVP Ronald Herrmann sold 7,000 shares of the business’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 completion of the sale, the executive vice president owned 3,938 shares in the company, valued at approximately $829,264.04. The trade was a 64.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John W. Hayden sold 414 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were 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 owned 20,949 shares of the company’s stock, valued at approximately $4,502,987.55. This represents a 1.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.60% of the company’s stock.

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.