Pearl River Capital LLC Takes $697,000 Position in Reinsurance Group of America Inc (NYSE:RGA)

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Pearl River Capital LLC acquired a new stake in Reinsurance Group of America Inc (NYSE:RGA) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 8,884 shares of the insurance provider’s stock, valued at approximately $697,000.

Several other institutional investors have also recently added to or reduced their stakes in RGA. Victory Capital Management Inc. increased its stake in shares of Reinsurance Group of America by 1,649.8% in the second quarter. Victory Capital Management Inc. now owns 657,397 shares of the insurance provider’s stock valued at $51,566,000 after buying an additional 619,827 shares during the period. First Trust Advisors LP increased its stake in shares of Reinsurance Group of America by 478.6% in the first quarter. First Trust Advisors LP now owns 694,353 shares of the insurance provider’s stock valued at $58,423,000 after buying an additional 574,345 shares during the period. Eaton Vance Management increased its stake in shares of Reinsurance Group of America by 6,282.5% in the first quarter. Eaton Vance Management now owns 428,777 shares of the insurance provider’s stock valued at $36,646,000 after buying an additional 422,059 shares during the period. FDx Advisors Inc. acquired a new position in shares of Reinsurance Group of America in the first quarter valued at approximately $4,116,000. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in Reinsurance Group of America by 23.9% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,263,099 shares of the insurance provider’s stock valued at $106,277,000 after acquiring an additional 243,691 shares during the last quarter. 93.98% of the stock is owned by institutional investors.

Several analysts recently commented on the company. UBS Group reduced their target price on Reinsurance Group of America from $136.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, July 1st. Credit Suisse Group reduced their target price on Reinsurance Group of America from $144.00 to $110.00 and set a “neutral” rating on the stock in a report on Monday, April 27th. ValuEngine cut Reinsurance Group of America from a “hold” rating to a “sell” rating in a report on Friday, August 7th. JPMorgan Chase & Co. reduced their target price on Reinsurance Group of America from $150.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $105.00 target price on shares of Reinsurance Group of America in a report on Monday, July 20th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $110.88.

NYSE RGA traded down $1.27 during trading hours on Thursday, hitting $91.90. The company had a trading volume of 7,717 shares, compared to its average volume of 817,700. Reinsurance Group of America Inc has a 52 week low of $55.39 and a 52 week high of $169.26. The firm has a 50 day simple moving average of $83.97 and a 200 day simple moving average of $98.73. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.15 and a current ratio of 0.15. The firm has a market capitalization of $6.26 billion, a price-to-earnings ratio of 10.39 and a beta of 1.13.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Tuesday, August 4th. The insurance provider reported $1.36 EPS for the quarter, topping the consensus estimate of ($1.04) by $2.40. Reinsurance Group of America had a return on equity of 5.79% and a net margin of 3.99%. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter last year, the company earned $3.31 EPS. The firm’s revenue was up 4.0% compared to the same quarter last year. On average, research analysts forecast that Reinsurance Group of America Inc will post 7.77 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be given a dividend of $0.70 per share. The ex-dividend date is Thursday, August 13th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.05%. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 20.97%.

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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