Edgestream Partners L.P. Acquires 51,638 Shares of Reinsurance Group of America, Incorporated $RGA

Edgestream Partners L.P. boosted its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 402.0% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 64,482 shares of the insurance provider’s stock after buying an additional 51,638 shares during the period. Reinsurance Group of America comprises about 0.4% of Edgestream Partners L.P.’s portfolio, making the stock its 15th biggest holding. Edgestream Partners L.P.’s holdings in Reinsurance Group of America were worth $13,165,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Activest Wealth Management bought a new stake in shares of Reinsurance Group of America during the 4th quarter worth about $30,000. Tobam increased its holdings in shares of Reinsurance Group of America by 244.7% during the 4th quarter. Tobam now owns 162 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 115 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Reinsurance Group of America in the 4th quarter valued at approximately $35,000. Entrust Financial LLC bought a new position in shares of Reinsurance Group of America in the 4th quarter valued at approximately $40,000. Finally, Advisory Services Network LLC bought a new position in shares of Reinsurance Group of America in the 3rd quarter valued at approximately $38,000. 95.11% of the stock is currently owned by institutional investors.

Insider Activity at Reinsurance Group of America

In other news, EVP John W. Hayden sold 414 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $214.95, for a total value of $88,989.30. Following the sale, the executive vice president owned 20,949 shares in the company, valued at approximately $4,502,987.55. This trade represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Ronald Herrmann sold 7,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $210.58, for a total transaction 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. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is currently owned by corporate insiders.

Reinsurance Group of America Price Performance

NYSE RGA opened at $237.35 on Thursday. Reinsurance Group of America, Incorporated has a twelve month low of $165.52 and a twelve month high of $245.00. 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 stock has a market capitalization of $15.55 billion, a PE ratio of 12.86 and a beta of 0.47. The stock has a 50-day simple moving average of $218.38 and a 200 day simple moving average of $211.67.

Reinsurance Group of America (NYSE:RGA) last released its 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. The firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.47 billion. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.The company’s revenue was up 23.5% on a year-over-year basis. During the same quarter last year, the firm posted $5.66 EPS. Research analysts anticipate that Reinsurance Group of America, Incorporated will post 26.84 EPS for the current year.

Reinsurance Group of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 19th were given a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, May 19th. Reinsurance Group of America’s dividend payout ratio is currently 20.15%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RGA shares. Piper Sandler decreased their target price on Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. UBS Group upgraded Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. Evercore reissued an “outperform” rating and issued a $267.00 price target on shares of Reinsurance Group of America in a research report on Monday, May 18th. Wells Fargo & Company boosted their price objective on shares of Reinsurance Group of America from $261.00 to $269.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Finally, 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 report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Reinsurance Group of America has a consensus rating of “Moderate Buy” and an average target price of $255.00.

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.