Interval Partners LP Raises Stake in Reinsurance Group of America, Incorporated $RGA

Interval Partners LP grew its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 186.5% in the fourth quarter, Holdings Channel reports. The firm owned 69,739 shares of the insurance provider’s stock after acquiring an additional 45,399 shares during the period. Interval Partners LP’s holdings in Reinsurance Group of America were worth $14,189,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Janus Henderson Group PLC lifted its stake in Reinsurance Group of America by 4.7% in the fourth quarter. Janus Henderson Group PLC now owns 29,494 shares of the insurance provider’s stock worth $5,997,000 after acquiring an additional 1,322 shares during the period. Gotham Asset Management LLC lifted its stake in Reinsurance Group of America by 44.0% in the fourth quarter. Gotham Asset Management LLC now owns 131,221 shares of the insurance provider’s stock worth $26,698,000 after acquiring an additional 40,075 shares during the period. Evolve Private Wealth LLC purchased a new stake in Reinsurance Group of America in the fourth quarter worth about $368,000. Capitolis Liquid Global Markets LLC purchased a new stake in Reinsurance Group of America in the fourth quarter worth about $3,971,000. Finally, Guggenheim Capital LLC lifted its stake in Reinsurance Group of America by 8.1% in the fourth quarter. Guggenheim Capital LLC now owns 1,197 shares of the insurance provider’s stock worth $244,000 after acquiring an additional 90 shares during the period. 95.11% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP John W. Hayden sold 414 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $214.95, for a total transaction of $88,989.30. Following the transaction, the executive vice president owned 20,949 shares in the company, valued at $4,502,987.55. This represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Ronald Herrmann sold 7,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $210.58, for a total transaction of $1,474,060.00. Following the transaction, the executive vice president owned 3,938 shares in the company, valued at approximately $829,264.04. This trade represents a 64.00% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.60% of the company’s stock.

Reinsurance Group of America Stock Performance

Shares of Reinsurance Group of America stock opened at $212.24 on Thursday. The company has a market capitalization of $13.90 billion, a PE ratio of 11.50 and a beta of 0.47. 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 simple moving average of $208.44 and a two-hundred day simple moving average of $206.17. Reinsurance Group of America, Incorporated has a one year low of $165.52 and a one year high of $229.21.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Thursday, May 7th. The insurance provider reported $6.97 EPS for the quarter, topping analysts’ consensus estimates of $6.03 by $0.94. The business had revenue of $6.49 billion during 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%. The firm’s revenue was up 23.5% on a year-over-year basis. During the same period in the previous year, the company posted $5.66 earnings per share. Research analysts expect that Reinsurance Group of America, Incorporated will post 26.88 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The business 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. The ex-dividend date was Tuesday, May 19th. This represents a $3.72 annualized dividend and a dividend yield of 1.8%. Reinsurance Group of America’s dividend payout ratio is 20.15%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Reinsurance Group of America from $264.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. UBS Group upped their price objective on shares of Reinsurance Group of America from $216.00 to $220.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Piper Sandler reduced their target price on shares of Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Morgan Stanley boosted their target price on shares of Reinsurance Group of America from $208.00 to $223.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 3rd. Finally, Evercore reiterated an “outperform” rating and issued a $267.00 target price on shares of Reinsurance Group of America in a report on Monday, May 18th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $251.25.

Reinsurance Group of America 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.