Norges Bank Invests $173.77 Million in Reinsurance Group of America, Incorporated $RGA

Norges Bank acquired a new position in Reinsurance Group of America, Incorporated (NYSE:RGA) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 854,059 shares of the insurance provider’s stock, valued at approximately $173,767,000.

A number of other large investors have also recently made changes to their positions in RGA. Orion Porfolio Solutions LLC grew its position in shares of Reinsurance Group of America by 6,076.4% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 602,503 shares of the insurance provider’s stock worth $119,512,000 after buying an additional 592,748 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in shares of Reinsurance Group of America in the 2nd quarter worth approximately $69,426,000. American Century Companies Inc. grew its position in shares of Reinsurance Group of America by 15.9% in the 3rd quarter. American Century Companies Inc. now owns 2,369,057 shares of the insurance provider’s stock worth $455,167,000 after buying an additional 324,239 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Reinsurance Group of America during the third quarter valued at approximately $35,266,000. Finally, AQR Capital Management LLC boosted its position in shares of Reinsurance Group of America by 29.6% during the second quarter. AQR Capital Management LLC now owns 799,675 shares of the insurance provider’s stock valued at $158,352,000 after purchasing an additional 182,729 shares in the last quarter. 95.11% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Reinsurance Group of America

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

Reinsurance Group of America Trading Down 1.5%

Reinsurance Group of America stock opened at $195.39 on Thursday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46. The business’s fifty day simple moving average is $207.96 and its two-hundred day simple moving average is $204.88. Reinsurance Group of America, Incorporated has a 12 month low of $165.52 and a 12 month high of $229.21. The company has a market capitalization of $12.80 billion, a price-to-earnings ratio of 10.58 and a beta of 0.47.

Reinsurance Group of America (NYSE:RGA) last released its earnings results on Thursday, May 7th. The insurance provider reported $6.97 EPS for the quarter, topping the consensus estimate of $6.03 by $0.94. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.47 billion. During the same period in the previous year, the company posted $5.66 earnings per share. The company’s revenue for the quarter was up 23.5% compared to the same quarter last year. As a group, equities analysts predict that Reinsurance Group of America, Incorporated will post 26.88 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 19th were issued a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, May 19th. Reinsurance Group of America’s payout ratio is 20.15%.

Wall Street Analyst Weigh In

RGA has been the topic of several research reports. JPMorgan Chase & Co. lifted their price target on Reinsurance Group of America from $264.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Weiss Ratings restated a “buy (b)” rating on shares of Reinsurance Group of America in a research report on Wednesday, May 13th. Wells Fargo & Company lifted their price target on Reinsurance Group of America from $238.00 to $261.00 and gave the company an “overweight” rating in a research report on Wednesday, February 25th. Wall Street Zen upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, UBS Group lifted their price target on Reinsurance Group of America from $216.00 to $220.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. Seven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $251.25.

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.