Prana Capital Management LP Buys 150,659 Shares of Reinsurance Group of America, Incorporated $RGA

Prana Capital Management LP increased its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 100.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 300,178 shares of the insurance provider’s stock after purchasing an additional 150,659 shares during the quarter. Reinsurance Group of America makes up 1.9% of Prana Capital Management LP’s holdings, making the stock its 19th largest position. Prana Capital Management LP owned 0.46% of Reinsurance Group of America worth $57,673,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of RGA. Millstone Evans Group LLC raised its stake in shares of Reinsurance Group of America by 82.4% during the 3rd quarter. Millstone Evans Group LLC now owns 135 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 61 shares in the last quarter. Root Financial Partners LLC acquired a new stake in Reinsurance Group of America in the third quarter valued at approximately $33,000. Advisory Services Network LLC purchased a new position in Reinsurance Group of America in the third quarter worth $38,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Reinsurance Group of America during the third quarter worth $44,000. Finally, Larson Financial Group LLC increased its position in shares of Reinsurance Group of America by 2,533.3% during the third quarter. Larson Financial Group LLC now owns 237 shares of the insurance provider’s stock worth $46,000 after purchasing an additional 228 shares in the last quarter. 95.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Wall Street Zen raised Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Barclays set a $245.00 price target on Reinsurance Group of America and gave the company an “overweight” rating in a research note on Friday, February 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of Reinsurance Group of America in a report on Monday, December 29th. TD Cowen restated a “hold” rating on shares of Reinsurance Group of America in a research note on Wednesday, January 28th. Finally, Morgan Stanley upped their price objective on shares of Reinsurance Group of America from $208.00 to $223.00 and gave the company an “equal weight” rating in a report on Tuesday, March 3rd. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.57.

Reinsurance Group of America Price Performance

Shares of NYSE RGA opened at $205.73 on Wednesday. Reinsurance Group of America, Incorporated has a 52 week low of $159.25 and a 52 week high of $229.21. The business’s 50 day moving average price is $208.02 and its 200 day moving average price is $198.51. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.42. The firm has a market cap of $13.49 billion, a P/E ratio of 11.59 and a beta of 0.50.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Thursday, February 5th. The insurance provider reported $7.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.86 by $1.89. The company had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.25 billion. Reinsurance Group of America had a net margin of 4.99% and a return on equity of 12.99%. Reinsurance Group of America’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same period last year, the firm posted $4.99 EPS. On average, sell-side analysts expect that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 3rd. Investors of record on Tuesday, February 17th were issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, February 17th. Reinsurance Group of America’s dividend payout ratio (DPR) is 20.96%.

Reinsurance Group of America Company 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.