Reinsurance Group of America, Incorporated $RGA Shares Acquired by Prana Capital Management LP

Prana Capital Management LP lifted its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 100.8% during the third quarter, Holdings Channel reports. The institutional investor owned 300,178 shares of the insurance provider’s stock after acquiring an additional 150,659 shares during the quarter. Reinsurance Group of America makes up approximately 1.9% of Prana Capital Management LP’s investment portfolio, making the stock its 19th largest position. Prana Capital Management LP’s holdings in Reinsurance Group of America were worth $57,673,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Millstone Evans Group LLC boosted its position in Reinsurance Group of America by 82.4% in the 3rd quarter. Millstone Evans Group LLC now owns 135 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 61 shares in the last quarter. Root Financial Partners LLC purchased a new position in shares of Reinsurance Group of America during the 3rd quarter valued at approximately $33,000. Advisory Services Network LLC acquired a new position in shares of Reinsurance Group of America in the 3rd quarter valued at $38,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Reinsurance Group of America in the 3rd quarter valued at $44,000. Finally, Larson Financial Group LLC boosted its holdings in Reinsurance Group of America by 2,533.3% during the third quarter. Larson Financial Group LLC now owns 237 shares of the insurance provider’s stock worth $46,000 after buying an additional 228 shares in the last quarter. 95.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RGA has been the subject of a number of recent analyst reports. Morgan Stanley lifted their price objective on shares of Reinsurance Group of America from $208.00 to $223.00 and gave the company an “equal weight” rating in a report on Tuesday, March 3rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Reinsurance Group of America in a research note on Monday, December 29th. Barclays set a $245.00 target price on Reinsurance Group of America and gave the company an “overweight” rating in a research report on Friday, February 6th. TD Cowen reaffirmed a “hold” rating on shares of Reinsurance Group of America in a report on Wednesday, January 28th. Finally, Wells Fargo & Company increased their price target on Reinsurance Group of America from $238.00 to $261.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. Six 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $244.57.

Reinsurance Group of America Stock Performance

NYSE:RGA opened at $205.73 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.14 and a current ratio of 0.14. The company has a fifty day moving average of $208.02 and a two-hundred day moving average of $198.51. The stock has a market capitalization of $13.49 billion, a PE ratio of 11.59 and a beta of 0.50. Reinsurance Group of America, Incorporated has a fifty-two week low of $159.25 and a fifty-two week high of $229.21.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Thursday, February 5th. The insurance provider reported $7.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.86 by $1.89. The business had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.25 billion. Reinsurance Group of America had a net margin of 4.99% and a return on equity of 12.99%. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter last year, the business earned $4.99 earnings per share. As a group, research analysts forecast that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 3rd. Investors of record on Tuesday, February 17th were issued a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 1.8%. The ex-dividend date was Tuesday, February 17th. Reinsurance Group of America’s payout ratio is presently 20.96%.

Reinsurance Group of America Company 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.