AXQ Capital LP Takes Position in Reinsurance Group of America, Incorporated $RGA

AXQ Capital LP acquired a new stake in Reinsurance Group of America, Incorporated (NYSE:RGA) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 2,587 shares of the insurance provider’s stock, valued at approximately $526,000.

Several other hedge funds have also modified their holdings of the stock. BNP Paribas Financial Markets increased its holdings in Reinsurance Group of America by 486.7% in the fourth quarter. BNP Paribas Financial Markets now owns 45,742 shares of the insurance provider’s stock valued at $9,307,000 after buying an additional 37,946 shares during the last quarter. Norges Bank purchased a new position in Reinsurance Group of America in the fourth quarter valued at $173,767,000. Coyle Financial Counsel LLC increased its holdings in Reinsurance Group of America by 33.6% in the fourth quarter. Coyle Financial Counsel LLC now owns 1,418 shares of the insurance provider’s stock valued at $289,000 after buying an additional 357 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in shares of Reinsurance Group of America during the fourth quarter worth about $352,000. Finally, Fiducient Advisors LLC purchased a new position in shares of Reinsurance Group of America during the fourth quarter worth about $507,000. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Reinsurance Group of America Stock Performance

NYSE RGA opened at $195.39 on Thursday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.46. Reinsurance Group of America, Incorporated has a 52-week low of $165.52 and a 52-week high of $229.21. The business’s 50-day moving average price is $207.96 and its 200 day moving average price is $204.88. The firm has a market cap of $12.80 billion, a P/E ratio of 10.58 and a beta of 0.47.

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

Reinsurance Group of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th were issued a dividend of $0.93 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.9%. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 20.15%.

Insider Transactions at Reinsurance Group of America

In related news, EVP John W. Hayden sold 414 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total transaction of $88,989.30. Following the transaction, the executive vice president owned 20,949 shares of the company’s stock, valued at $4,502,987.55. This trade represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 stock was sold at an average price of $210.58, for a total value of $1,474,060.00. Following the transaction, the executive vice president directly owned 3,938 shares in the company, valued at approximately $829,264.04. This represents a 64.00% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on RGA shares. UBS Group raised their price objective on Reinsurance Group of America from $216.00 to $220.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Barclays raised their price objective on Reinsurance Group of America from $256.00 to $268.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Morgan Stanley raised their price objective on Reinsurance Group of America from $208.00 to $223.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 3rd. JPMorgan Chase & Co. raised their price objective on Reinsurance Group of America from $264.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Finally, Piper Sandler dropped their price objective on Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Seven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $251.25.

Reinsurance Group of America Profile

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.