Jupiter Asset Management Ltd. Takes Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Jupiter Asset Management Ltd. purchased a new position in 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 and Exchange Commission. The fund purchased 129,188 shares of the insurance provider’s stock, valued at approximately $24,918,000. Jupiter Asset Management Ltd. owned approximately 0.20% of Reinsurance Group of America as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in RGA. Handelsinvest Investeringsforvaltning acquired a new position in shares of Reinsurance Group of America during the 4th quarter worth about $370,000. Raymond James & Associates lifted its position in shares of Reinsurance Group of America by 13.0% in the fourth quarter. Raymond James & Associates now owns 244,771 shares of the insurance provider’s stock valued at $39,599,000 after acquiring an additional 28,193 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Reinsurance Group of America by 99.3% in the fourth quarter. Pacer Advisors Inc. now owns 11,075 shares of the insurance provider’s stock worth $1,792,000 after acquiring an additional 5,518 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Reinsurance Group of America by 231.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 142,322 shares of the insurance provider’s stock worth $23,025,000 after purchasing an additional 99,406 shares in the last quarter. Finally, Tectonic Advisors LLC raised its stake in Reinsurance Group of America by 4.3% in the 4th quarter. Tectonic Advisors LLC now owns 1,979 shares of the insurance provider’s stock valued at $320,000 after purchasing an additional 82 shares during the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP John W. Hayden sold 1,767 shares of Reinsurance Group of America stock in a transaction on Tuesday, May 14th. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.37% of the stock is owned by insiders.

Reinsurance Group of America Trading Down 0.5 %

Shares of Reinsurance Group of America stock traded down $1.01 during trading hours on Friday, hitting $213.40. The company’s stock had a trading volume of 367,688 shares, compared to its average volume of 350,839. The stock has a market cap of $14.04 billion, a price-to-earnings ratio of 16.58 and a beta of 0.92. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.19 and a current ratio of 0.19. Reinsurance Group of America, Incorporated has a twelve month low of $135.07 and a twelve month high of $217.34. The firm has a fifty day moving average of $207.74 and a 200-day moving average of $189.89.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Friday, May 3rd. The insurance provider reported $6.02 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter in the prior year, the company posted $5.16 earnings per share. Research analysts forecast that Reinsurance Group of America, Incorporated will post 21.11 EPS for the current year.

Reinsurance Group of America Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend was Monday, May 13th. Reinsurance Group of America’s payout ratio is 26.42%.

Wall Street Analysts Forecast Growth

RGA has been the topic of several recent research reports. Keefe, Bruyette & Woods lifted their target price on shares of Reinsurance Group of America from $220.00 to $235.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 7th. Morgan Stanley raised their price target on shares of Reinsurance Group of America from $216.00 to $217.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 10th. Jefferies Financial Group upped their price objective on shares of Reinsurance Group of America from $63.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Evercore ISI raised their target price on shares of Reinsurance Group of America from $225.00 to $241.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 26th. Finally, UBS Group upped their price target on Reinsurance Group of America from $223.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.45.

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.