Bull Harbor Capital LLC Invests $590,000 in Reinsurance Group of America, Incorporated $RGA

Bull Harbor Capital LLC acquired a new stake in Reinsurance Group of America, Incorporated (NYSE:RGA) in the 1st quarter, Holdings Channel reports. The fund acquired 2,888 shares of the insurance provider’s stock, valued at approximately $590,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Activest Wealth Management acquired a new position in Reinsurance Group of America during the fourth quarter worth $30,000. Tobam lifted its stake in Reinsurance Group of America by 244.7% in the 4th quarter. Tobam now owns 162 shares of the insurance provider’s stock valued at $33,000 after buying an additional 115 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Reinsurance Group of America during the fourth quarter worth $35,000. Advisory Services Network LLC acquired a new position in shares of Reinsurance Group of America in the third quarter worth $38,000. Finally, Entrust Financial LLC acquired a new position in shares of Reinsurance Group of America in the fourth quarter worth $40,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Analyst Ratings Changes

RGA has been the topic of a number of analyst reports. Evercore reaffirmed an “outperform” rating and set a $267.00 price objective on shares of Reinsurance Group of America in a research note on Monday, May 18th. JPMorgan Chase & Co. boosted their target price on shares of Reinsurance Group of America from $270.00 to $286.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Wells Fargo & Company raised their price target on shares of Reinsurance Group of America from $261.00 to $269.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Piper Sandler lowered their price target on shares of Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Finally, TD Cowen boosted their price objective on shares of Reinsurance Group of America from $212.00 to $235.00 and gave the company a “hold” rating in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $255.00.

Reinsurance Group of America Trading Up 0.5%

RGA stock opened at $238.22 on Friday. The company has a market cap of $15.61 billion, a price-to-earnings ratio of 12.90 and a beta of 0.47. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $218.84 and a 200-day simple moving average of $211.93. Reinsurance Group of America, Incorporated has a 52 week low of $165.52 and a 52 week high of $245.00.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Thursday, May 7th. The insurance provider reported $6.97 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.47 billion. During the same period last year, the business posted $5.66 EPS. The company’s quarterly revenue was up 23.5% compared to the same quarter last year. On average, equities research analysts expect that Reinsurance Group of America, Incorporated will post 26.84 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 19th were paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Tuesday, May 19th. Reinsurance Group of America’s payout ratio is currently 20.15%.

Insider Activity

In other Reinsurance Group of America news, EVP John W. Hayden sold 414 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $214.95, for a total value of $88,989.30. Following the completion of the sale, the executive vice president owned 20,949 shares of the company’s stock, valued at $4,502,987.55. This trade represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ronald Herrmann sold 7,000 shares of Reinsurance Group of America stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $210.58, for a total transaction of $1,474,060.00. Following the sale, the executive vice president owned 3,938 shares in the company, valued at $829,264.04. This represents a 64.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.60% of the company’s stock.

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.