SpiderRock Advisors LLC Acquires Shares of 1,823 Reinsurance Group of America, Incorporated (NYSE:RGA)

SpiderRock Advisors LLC acquired a new stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,823 shares of the insurance provider’s stock, valued at approximately $336,000.

Several other hedge funds have also recently modified their holdings of the stock. Louisiana State Employees Retirement System bought a new position in shares of Reinsurance Group of America during the 4th quarter valued at approximately $2,993,000. International Assets Investment Management LLC lifted its stake in Reinsurance Group of America by 16,078.1% in the fourth quarter. International Assets Investment Management LLC now owns 22,164 shares of the insurance provider’s stock worth $3,586,000 after purchasing an additional 22,027 shares during the last quarter. Raymond James & Associates lifted its stake in Reinsurance Group of America by 13.0% in the fourth quarter. Raymond James & Associates now owns 244,771 shares of the insurance provider’s stock worth $39,599,000 after purchasing an additional 28,193 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in shares of Reinsurance Group of America by 93.8% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 22,655 shares of the insurance provider’s stock valued at $3,289,000 after buying an additional 10,968 shares during the last quarter. Finally, Junto Capital Management LP purchased a new stake in shares of Reinsurance Group of America in the fourth quarter worth approximately $92,083,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Trading Down 0.6 %

Shares of NYSE RGA traded down $1.27 during trading on Friday, hitting $203.60. 145,440 shares of the company were exchanged, compared to its average volume of 348,943. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.19 and a current ratio of 0.19. Reinsurance Group of America, Incorporated has a 12-month low of $135.07 and a 12-month high of $213.21. The company has a fifty day moving average price of $204.77 and a 200-day moving average price of $185.93. The firm has a market capitalization of $13.39 billion, a PE ratio of 15.80 and a beta of 0.92.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Friday, May 3rd. The insurance provider reported $6.02 EPS for the quarter, beating analysts’ consensus estimates of $4.55 by $1.47. Reinsurance Group of America had a return on equity of 15.94% and a net margin of 4.16%. The company had revenue of $6.34 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter in the previous year, the business earned $5.16 earnings per share. As a group, equities research analysts expect that Reinsurance Group of America, Incorporated will post 20.94 EPS for the current year.

Reinsurance Group of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th were paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.67%. The ex-dividend date was Monday, May 13th. Reinsurance Group of America’s payout ratio is 26.42%.

Insider Activity at Reinsurance Group of America

In other Reinsurance Group of America news, EVP John W. Hayden sold 1,767 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $206.85, for a total transaction of $365,503.95. Following the completion of the transaction, the executive vice president now owns 16,490 shares in the company, valued at approximately $3,410,956.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.37% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on RGA. Evercore ISI raised their price target on shares of Reinsurance Group of America from $225.00 to $241.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 26th. UBS Group lifted their price target on shares of Reinsurance Group of America from $223.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Keefe, Bruyette & Woods increased their price objective on Reinsurance Group of America from $220.00 to $235.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $225.00 target price on shares of Reinsurance Group of America in a research report on Friday, June 14th. Finally, Morgan Stanley increased their price target on Reinsurance Group of America from $178.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $221.18.

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.