Engineers Gate Manager LP Invests $1.86 Million in Reinsurance Group of America (RGA) Stock

Engineers Gate Manager LP bought a new stake in shares of Reinsurance Group of America (NYSE:RGA) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 12,091 shares of the insurance provider’s stock, valued at approximately $1,862,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sumitomo Mitsui Asset Management Company LTD lifted its position in Reinsurance Group of America by 103.3% during the fourth quarter. Sumitomo Mitsui Asset Management Company LTD now owns 35,441 shares of the insurance provider’s stock valued at $5,526,000 after purchasing an additional 18,008 shares during the period. Investec Asset Management LTD lifted its position in Reinsurance Group of America by 130.2% during the fourth quarter. Investec Asset Management LTD now owns 154,701 shares of the insurance provider’s stock valued at $24,123,000 after purchasing an additional 87,495 shares during the period. Commerce Bank raised its position in shares of Reinsurance Group of America by 7.0% in the fourth quarter. Commerce Bank now owns 15,187 shares of the insurance provider’s stock worth $2,368,000 after acquiring an additional 1,000 shares during the period. MML Investors Services LLC raised its position in shares of Reinsurance Group of America by 115.7% in the fourth quarter. MML Investors Services LLC now owns 3,249 shares of the insurance provider’s stock worth $507,000 after acquiring an additional 1,743 shares during the period. Finally, UBS Asset Management Americas Inc. raised its position in shares of Reinsurance Group of America by 15.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 384,736 shares of the insurance provider’s stock worth $59,992,000 after acquiring an additional 50,371 shares during the period. Institutional investors own 93.47% of the company’s stock.

In related news, EVP Timothy T. Matson purchased 300 shares of Reinsurance Group of America stock in a transaction that occurred on Tuesday, May 1st. The stock was purchased at an average price of $149.15 per share, for a total transaction of $44,745.00. Following the transaction, the executive vice president now directly owns 2,095 shares in the company, valued at $312,469.25. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Alain Neemeh sold 2,955 shares of the company’s stock in a transaction dated Monday, May 7th. The stock was sold at an average price of $153.66, for a total transaction of $454,065.30. Following the transaction, the executive vice president now owns 37,492 shares of the company’s stock, valued at approximately $5,761,020.72. The disclosure for this sale can be found here. 1.47% of the stock is owned by corporate insiders.

Shares of Reinsurance Group of America stock opened at $150.35 on Friday. The stock has a market capitalization of $9.71 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 1.45 and a beta of 0.75. Reinsurance Group of America has a fifty-two week low of $149.74 and a fifty-two week high of $151.04. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.12 and a quick ratio of 0.12.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results on Thursday, April 26th. The insurance provider reported $1.61 earnings per share for the quarter, missing the consensus estimate of $2.48 by ($0.87). Reinsurance Group of America had a return on equity of 8.04% and a net margin of 14.01%. The company had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter last year, the company earned $1.86 EPS. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. sell-side analysts predict that Reinsurance Group of America will post 11.56 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 29th. Investors of record on Tuesday, May 8th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, May 7th. This represents a $2.00 annualized dividend and a dividend yield of 1.33%. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 18.45%.

A number of research analysts have weighed in on the stock. Credit Suisse Group assumed coverage on shares of Reinsurance Group of America in a research report on Wednesday, April 25th. They issued a “neutral” rating and a $164.00 price objective for the company. Zacks Investment Research upgraded shares of Reinsurance Group of America from a “hold” rating to a “buy” rating and set a $179.00 price objective for the company in a research report on Monday, March 19th. Wells Fargo set a $165.00 price objective on shares of Reinsurance Group of America and gave the stock a “hold” rating in a research report on Thursday, April 26th. Morgan Stanley decreased their price objective on shares of Reinsurance Group of America from $138.00 to $135.00 and set an “underweight” rating for the company in a research report on Thursday, April 5th. Finally, UBS assumed coverage on shares of Reinsurance Group of America in a research report on Friday, March 2nd. They issued a “neutral” rating and a $168.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $159.78.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated engages in reinsurance business. It offers individual and group life and health insurance products, including term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products, as well as asset-intensive and financial reinsurance products.

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Institutional Ownership by Quarter for Reinsurance Group of America (NYSE:RGA)

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