Wedge Capital Management L L P NC Takes Position in Reinsurance Group of America, Incorporated $RGA

Wedge Capital Management L L P NC purchased a new position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,118 shares of the insurance provider’s stock, valued at approximately $3,686,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Millstone Evans Group LLC grew its position in shares of Reinsurance Group of America by 82.4% during the 3rd quarter. Millstone Evans Group LLC now owns 135 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 61 shares during the period. Root Financial Partners LLC acquired a new position in shares of Reinsurance Group of America in the third quarter worth $33,000. Advisory Services Network LLC purchased a new stake in shares of Reinsurance Group of America during the third quarter worth $38,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Reinsurance Group of America in the third quarter valued at $44,000. Finally, Larson Financial Group LLC raised its stake in shares of Reinsurance Group of America by 2,533.3% in the third quarter. Larson Financial Group LLC now owns 237 shares of the insurance provider’s stock valued at $46,000 after acquiring an additional 228 shares in the last quarter. Institutional investors and hedge funds own 95.11% of the company’s stock.

Reinsurance Group of America Price Performance

Shares of NYSE:RGA opened at $198.82 on Monday. The company has a 50-day simple moving average of $208.40 and a 200-day simple moving average of $198.95. Reinsurance Group of America, Incorporated has a one year low of $159.25 and a one year high of $229.21. The stock has a market capitalization of $13.03 billion, a price-to-earnings ratio of 11.20 and a beta of 0.50. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.14 and a current ratio of 0.14.

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

Reinsurance Group of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th were paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Tuesday, February 17th. Reinsurance Group of America’s payout ratio is currently 20.96%.

Analysts Set New Price Targets

Several research analysts recently commented on RGA shares. Morgan Stanley boosted their target price on Reinsurance Group of America from $208.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 3rd. Wells Fargo & Company raised their price objective on Reinsurance Group of America from $238.00 to $261.00 and gave the stock an “overweight” rating in a report on Wednesday, February 25th. Barclays set a $245.00 target price on Reinsurance Group of America and gave the company an “overweight” rating in a report on Friday, February 6th. Weiss Ratings restated a “buy (b-)” rating on shares of Reinsurance Group of America in a research note on Monday, December 29th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $263.00 price target on shares of Reinsurance Group of America in a research report on Friday, February 6th. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $244.57.

Reinsurance Group of America 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.