Assenagon Asset Management S.A. Raises Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Assenagon Asset Management S.A. lifted its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 466.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 235,219 shares of the insurance provider’s stock after purchasing an additional 193,703 shares during the period. Assenagon Asset Management S.A.’s holdings in Reinsurance Group of America were worth $46,315,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Colonial Trust Co SC grew its stake in Reinsurance Group of America by 72.2% during the 4th quarter. Colonial Trust Co SC now owns 136 shares of the insurance provider’s stock worth $29,000 after buying an additional 57 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Reinsurance Group of America in the fourth quarter valued at approximately $44,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Reinsurance Group of America by 78.2% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 310 shares of the insurance provider’s stock valued at $61,000 after acquiring an additional 136 shares during the period. Private Trust Co. NA boosted its holdings in shares of Reinsurance Group of America by 99.4% in the fourth quarter. Private Trust Co. NA now owns 311 shares of the insurance provider’s stock valued at $66,000 after acquiring an additional 155 shares during the period. Finally, Kestra Investment Management LLC purchased a new position in shares of Reinsurance Group of America during the fourth quarter worth approximately $70,000. 95.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. Keefe, Bruyette & Woods upped their price target on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Morgan Stanley set a $209.00 price objective on shares of Reinsurance Group of America and gave the company an “equal weight” rating in a research note on Monday, May 19th. Evercore ISI decreased their target price on shares of Reinsurance Group of America from $280.00 to $270.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. Wells Fargo & Company boosted their price target on Reinsurance Group of America from $246.00 to $248.00 and gave the company an “overweight” rating in a research report on Tuesday, May 6th. Finally, Raymond James reaffirmed a “market perform” rating on shares of Reinsurance Group of America in a research note on Friday, May 23rd. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $228.85.

Reinsurance Group of America Price Performance

Shares of NYSE:RGA opened at $198.23 on Thursday. Reinsurance Group of America, Incorporated has a 52 week low of $159.25 and a 52 week high of $233.81. The company has a 50-day moving average price of $194.29 and a 200 day moving average price of $204.22. The company has a market cap of $13.10 billion, a P/E ratio of 18.46 and a beta of 0.63. The company has a quick ratio of 0.17, a current ratio of 0.15 and a debt-to-equity ratio of 0.46.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Thursday, May 1st. The insurance provider reported $5.66 EPS for the quarter, beating the consensus estimate of $5.33 by $0.33. The business had revenue of $5.26 billion during the quarter, compared to analysts’ expectations of $5.74 billion. Reinsurance Group of America had a return on equity of 14.55% and a net margin of 3.24%. The company’s quarterly revenue was down 17.0% compared to the same quarter last year. During the same period last year, the firm earned $6.02 EPS. Research analysts predict 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 disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were given a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Tuesday, May 13th. Reinsurance Group of America’s payout ratio is 30.04%.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated engages in reinsurance business. The company offers individual and group life and health insurance products, such as term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products; asset-intensive and financial reinsurance products; and other capital motivated solutions.