Reinsurance Group of America, Incorporated $RGA Stock Holdings Boosted by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al boosted its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 55.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,900 shares of the insurance provider’s stock after buying an additional 3,900 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Reinsurance Group of America were worth $2,684,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RGA. SEB Asset Management AB purchased a new position in Reinsurance Group of America during the first quarter worth approximately $81,533,000. Bank of New York Mellon Corp acquired a new stake in shares of Reinsurance Group of America during the second quarter valued at about $82,836,000. Lazard Asset Management LLC increased its position in shares of Reinsurance Group of America by 2,626.6% during the first quarter. Lazard Asset Management LLC now owns 195,794 shares of the insurance provider’s stock valued at $39,973,000 after acquiring an additional 188,613 shares during the last quarter. Wedge Capital Management L L P NC raised its stake in shares of Reinsurance Group of America by 965.2% in the 2nd quarter. Wedge Capital Management L L P NC now owns 179,440 shares of the insurance provider’s stock valued at $38,158,000 after acquiring an additional 162,594 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Reinsurance Group of America in the 3rd quarter valued at approximately $30,927,000. 95.11% of the stock is owned by hedge funds and other institutional investors.

Reinsurance Group of America Trading Up 0.9%

NYSE:RGA opened at $267.08 on Tuesday. The stock has a 50-day simple moving average of $253.73 and a 200-day simple moving average of $224.97. The stock has a market cap of $17.44 billion, a P/E ratio of 11.73 and a beta of 0.45. Reinsurance Group of America, Incorporated has a 1 year low of $179.52 and a 1 year high of $272.44. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.14 and a current ratio of 0.14.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Thursday, August 6th. The insurance provider reported $8.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.50 by $2.39. Reinsurance Group of America had a net margin of 5.81% and a return on equity of 14.78%. The business had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.67 billion. During the same quarter in the prior year, the business posted $4.72 EPS. The company’s revenue for the quarter was up 18.5% on a year-over-year basis. As a group, analysts anticipate that Reinsurance Group of America, Incorporated will post 29.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Jonathan Porter sold 8,589 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $246.30, for a total value of $2,115,470.70. Following the completion of the sale, the executive vice president directly owned 14,885 shares of the company’s stock, valued at approximately $3,666,175.50. This represents a 36.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

RGA has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Reinsurance Group of America from $293.00 to $297.00 and gave the stock an “overweight” rating in a report on Thursday, October 15th. UBS Group upgraded shares of Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Reinsurance Group of America in a research report on Friday, August 7th. Barclays set a $292.00 price target on Reinsurance Group of America in a research note on Thursday, October 8th. Finally, Wells Fargo & Company raised their price target on Reinsurance Group of America from $291.00 to $292.00 and gave the stock an “overweight” rating in a research report on Monday, October 12th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $273.75.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated (NYSE:RGA) is a global provider of life and health reinsurance. The company works with insurance carriers to help them manage mortality, longevity, morbidity and other insurance risks, while supporting the development and distribution of life and health insurance products.

RGA’s offerings include traditional life reinsurance, including term, whole life and universal life coverage, as well as health reinsurance and financial solutions. Its financial solutions business provides capital management, asset-intensive reinsurance, longevity and other risk-management arrangements designed to help insurers manage their balance sheets and meet changing customer and regulatory needs.

Founded in 1973 as part of General American Life Insurance Company, RGA became an independent public company in 1993.