Bull Harbor Capital LLC Purchases New Position in Reinsurance Group of America, Incorporated $RGA

Bull Harbor Capital LLC purchased a new stake in Reinsurance Group of America, Incorporated (NYSE:RGA) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,888 shares of the insurance provider’s stock, valued at approximately $590,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Securities Inc. increased its holdings in Reinsurance Group of America by 3.6% in the fourth quarter. Principal Securities Inc. now owns 1,490 shares of the insurance provider’s stock valued at $303,000 after buying an additional 52 shares in the last quarter. Rehmann Capital Advisory Group grew its position in shares of Reinsurance Group of America by 1.3% during the 3rd quarter. Rehmann Capital Advisory Group now owns 4,281 shares of the insurance provider’s stock valued at $819,000 after acquiring an additional 54 shares during the period. CIBC Private Wealth Group LLC increased its stake in shares of Reinsurance Group of America by 6.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 974 shares of the insurance provider’s stock valued at $198,000 after purchasing an additional 56 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in Reinsurance Group of America by 17.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 388 shares of the insurance provider’s stock worth $76,000 after purchasing an additional 58 shares during the period. Finally, Covestor Ltd raised its holdings in Reinsurance Group of America by 12.2% in the 4th quarter. Covestor Ltd now owns 533 shares of the insurance provider’s stock worth $108,000 after purchasing an additional 58 shares during the period. Institutional investors and hedge funds own 95.11% of the company’s stock.

Insider Buying and Selling at Reinsurance Group of America

In other news, EVP John W. Hayden sold 414 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $4,502,987.55. This trade represents a 1.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ronald Herrmann sold 7,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president owned 3,938 shares in the company, valued at $829,264.04. This represents a 64.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on RGA. JPMorgan Chase & Co. boosted their price objective on Reinsurance Group of America from $270.00 to $286.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. TD Cowen boosted their price target on shares of Reinsurance Group of America from $212.00 to $235.00 and gave the stock a “hold” rating in a report on Wednesday, July 22nd. Barclays upped their price objective on shares of Reinsurance Group of America from $268.00 to $278.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Wall Street Zen upgraded shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, UBS Group upgraded shares of Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $255.00.

Reinsurance Group of America Stock Up 0.5%

RGA stock opened at $238.22 on Friday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average of $218.84 and a two-hundred day moving average of $211.93. Reinsurance Group of America, Incorporated has a 12 month low of $165.52 and a 12 month high of $245.00. The company has a market cap of $15.61 billion, a price-to-earnings ratio of 12.90 and a beta of 0.47.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results 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. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.47 billion. During the same period in the prior year, the business earned $5.66 earnings per share. The business’s revenue was up 23.5% compared to the same quarter last year. As a group, analysts forecast that Reinsurance Group of America, Incorporated will post 26.84 earnings per share 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 issued a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 1.6%. The ex-dividend date was Tuesday, May 19th. Reinsurance Group of America’s dividend payout ratio is presently 20.15%.

Reinsurance Group of America Company 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.