Summit Global Investments Boosts Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Summit Global Investments boosted its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 20.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,494 shares of the insurance provider’s stock after acquiring an additional 1,111 shares during the period. Summit Global Investments’ holdings in Reinsurance Group of America were worth $1,333,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RGA. Earnest Partners LLC raised its holdings in shares of Reinsurance Group of America by 4.2% in the first quarter. Earnest Partners LLC now owns 2,577,901 shares of the insurance provider’s stock worth $497,226,000 after buying an additional 104,256 shares during the last quarter. Nuance Investments LLC raised its holdings in shares of Reinsurance Group of America by 14.7% in the fourth quarter. Nuance Investments LLC now owns 1,114,060 shares of the insurance provider’s stock worth $180,233,000 after buying an additional 142,627 shares during the last quarter. Sei Investments Co. raised its holdings in shares of Reinsurance Group of America by 5.7% in the first quarter. Sei Investments Co. now owns 780,010 shares of the insurance provider’s stock worth $150,448,000 after buying an additional 42,135 shares during the last quarter. Norges Bank purchased a new position in shares of Reinsurance Group of America in the fourth quarter worth $122,301,000. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Reinsurance Group of America by 2.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 584,137 shares of the insurance provider’s stock worth $112,668,000 after buying an additional 15,926 shares during the last quarter. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Stock Up 0.5 %

NYSE RGA traded up $1.01 on Wednesday, hitting $208.21. 76,447 shares of the stock were exchanged, compared to its average volume of 373,259. The company has a 50-day moving average price of $208.95 and a 200-day moving average price of $196.54. Reinsurance Group of America, Incorporated has a fifty-two week low of $135.20 and a fifty-two week high of $227.87. The company has a market cap of $13.70 billion, a PE ratio of 16.08 and a beta of 0.92. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.52.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, beating the consensus estimate of $4.94 by $0.54. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The firm had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $5.07 billion. During the same quarter in the prior year, the firm earned $4.40 EPS. Reinsurance Group of America’s revenue for the quarter was up 17.4% on a year-over-year basis. Sell-side analysts anticipate that Reinsurance Group of America, Incorporated will post 21.5 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $3.56 dividend on an annualized basis and a yield of 1.71%. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.85. Reinsurance Group of America’s dividend payout ratio is presently 27.66%.

Wall Street Analysts Forecast Growth

RGA has been the subject of a number of research analyst reports. Citigroup raised their price target on shares of Reinsurance Group of America from $194.00 to $252.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods raised their price target on shares of Reinsurance Group of America from $220.00 to $235.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. Wells Fargo & Company raised their price target on shares of Reinsurance Group of America from $236.00 to $239.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. UBS Group lifted their target price on shares of 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. Finally, Evercore ISI lifted their target price on shares of Reinsurance Group of America from $225.00 to $241.00 and gave the company an “outperform” rating in a research report on Wednesday, June 26th. 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 company. According to data from MarketBeat.com, Reinsurance Group of America currently has an average rating of “Moderate Buy” and a consensus target price of $220.45.

Reinsurance Group of America Profile

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.