Public Employees Retirement System of Ohio Makes New Investment in Reinsurance Group of America, Incorporated $RGA

Public Employees Retirement System of Ohio acquired a new stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 30,727 shares of the insurance provider’s stock, valued at approximately $6,534,000.

Several other institutional investors and hedge funds have also modified their holdings of RGA. Goldman Sachs Group Inc. raised its position in Reinsurance Group of America by 44.3% during the first quarter. Goldman Sachs Group Inc. now owns 221,198 shares of the insurance provider’s stock valued at $43,554,000 after acquiring an additional 67,880 shares in the last quarter. Focus Partners Wealth boosted its position in Reinsurance Group of America by 121.2% in the 1st quarter. Focus Partners Wealth now owns 2,676 shares of the insurance provider’s stock worth $527,000 after purchasing an additional 1,466 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Reinsurance Group of America by 17.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 388 shares of the insurance provider’s stock worth $76,000 after purchasing an additional 58 shares during the period. Gabelli Funds LLC acquired a new stake in shares of Reinsurance Group of America during the 2nd quarter worth approximately $1,006,000. Finally, Cerity Partners LLC increased its holdings in shares of Reinsurance Group of America by 15.5% during the 2nd quarter. Cerity Partners LLC now owns 33,716 shares of the insurance provider’s stock valued at $6,688,000 after purchasing an additional 4,527 shares in the last quarter. Institutional investors and hedge funds own 95.11% of the company’s stock.

Reinsurance Group of America Trading Up 0.5%

Shares of RGA stock opened at $247.30 on Wednesday. The stock’s fifty day moving average is $235.89 and its two-hundred day moving average is $218.57. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.14 and a current ratio of 0.14. The firm has a market capitalization of $16.15 billion, a P/E ratio of 10.86 and a beta of 0.47. Reinsurance Group of America, Incorporated has a fifty-two week low of $178.21 and a fifty-two week high of $251.00.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Thursday, August 6th. The insurance provider reported $8.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $2.39. The business had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.67 billion. Reinsurance Group of America had a net margin of 5.81% and a return on equity of 14.78%. The company’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.72 earnings per share. Research analysts expect that Reinsurance Group of America, Incorporated will post 29.22 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th were given a dividend of $0.98 per share. The ex-dividend date was Tuesday, August 18th. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.93. This represents a $3.92 dividend on an annualized basis and a yield of 1.6%. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 17.22%.

Analysts Set New Price Targets

A number of analysts recently issued reports on RGA shares. Weiss Ratings reissued a “buy (b)” rating on shares of Reinsurance Group of America in a report on Friday, August 7th. Evercore reaffirmed an “outperform” rating and issued a $267.00 price objective on shares of Reinsurance Group of America in a report on Monday, May 18th. Morgan Stanley increased their target price on shares of Reinsurance Group of America from $223.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Monday, August 24th. TD Cowen raised their target price on Reinsurance Group of America from $212.00 to $235.00 and gave the company a “hold” rating in a research report on Wednesday, July 22nd. Finally, Wells Fargo & Company lifted their price target on Reinsurance Group of America from $269.00 to $291.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Reinsurance Group of America has an average rating of “Moderate Buy” and an average target price of $262.56.

Insider Transactions at Reinsurance Group of America

In related news, EVP Jonathan Porter sold 8,589 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $246.30, for a total transaction of $2,115,470.70. Following the completion of the sale, the executive vice president owned 14,885 shares of the company’s stock, valued at approximately $3,666,175.50. This represents a 36.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.60% of the company’s stock.

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.