Convergence Investment Partners LLC Raises Stake in Reinsurance Group of America, Incorporated $RGA

Convergence Investment Partners LLC increased its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 38.0% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 8,538 shares of the insurance provider’s stock after acquiring an additional 2,353 shares during the period. Convergence Investment Partners LLC’s holdings in Reinsurance Group of America were worth $1,743,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Earned Wealth Advisors LLC acquired a new stake in Reinsurance Group of America during the first quarter worth approximately $223,000. WCM Investment Management LLC grew its stake in Reinsurance Group of America by 3.0% in the 1st quarter. WCM Investment Management LLC now owns 2,830,620 shares of the insurance provider’s stock worth $566,803,000 after acquiring an additional 82,681 shares during the period. Dimensional Fund Advisors LP grew its stake in Reinsurance Group of America by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,114,998 shares of the insurance provider’s stock worth $227,624,000 after acquiring an additional 15,372 shares during the period. KBC Group NV raised its holdings in Reinsurance Group of America by 8.9% in the 1st quarter. KBC Group NV now owns 1,989 shares of the insurance provider’s stock valued at $406,000 after acquiring an additional 163 shares during the last quarter. Finally, SEB Asset Management AB acquired a new position in Reinsurance Group of America in the 1st quarter valued at $81,533,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RGA. Evercore restated an “outperform” rating and set a $267.00 price objective on shares of Reinsurance Group of America in a report on Monday, May 18th. UBS Group upped their target price on Reinsurance Group of America from $220.00 to $236.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Barclays upped their target price on Reinsurance Group of America from $268.00 to $278.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Wall Street Zen upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Wells Fargo & Company raised their price target on 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. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Reinsurance Group of America presently has a consensus rating of “Moderate Buy” and a consensus target price of $257.50.

Insider Buying and Selling at Reinsurance Group of America

In related news, EVP John W. Hayden sold 414 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total value of $88,989.30. Following the transaction, the executive vice president directly owned 20,949 shares of the company’s stock, valued at approximately $4,502,987.55. This trade represents a 1.94% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ronald Herrmann sold 7,000 shares of Reinsurance Group of America stock in a transaction 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. The trade was a 64.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.60% of the company’s stock.

Reinsurance Group of America Stock Performance

Shares of RGA stock opened at $238.97 on Wednesday. Reinsurance Group of America, Incorporated has a one year low of $165.52 and a one year 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 company has a 50 day moving average price of $215.17 and a 200 day moving average price of $210.18. The firm has a market capitalization of $15.65 billion, a price-to-earnings ratio of 12.95 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 for the quarter, topping analysts’ consensus estimates of $6.03 by $0.94. The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.47 billion. Reinsurance Group of America had a net margin of 4.92% and a return on equity of 13.16%. Reinsurance Group of America’s revenue was up 23.5% on a year-over-year basis. During the same quarter last year, the firm posted $5.66 earnings per share. Sell-side analysts anticipate that Reinsurance Group of America, Incorporated will post 26.86 EPS for the current year.

Reinsurance Group of America Announces Dividend

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

About Reinsurance Group of America

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.