Islay Capital Management LLC Invests $891,000 in Reinsurance Group of America, Incorporated $RGA

Islay Capital Management LLC bought a new stake in Reinsurance Group of America, Incorporated (NYSE:RGA) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,377 shares of the insurance provider’s stock, valued at approximately $891,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Principal Securities Inc. lifted its holdings in shares of Reinsurance Group of America by 3.6% in the 4th quarter. Principal Securities Inc. now owns 1,490 shares of the insurance provider’s stock valued at $303,000 after purchasing an additional 52 shares during the last quarter. Rehmann Capital Advisory Group lifted its holdings in shares of Reinsurance Group of America by 1.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 4,281 shares of the insurance provider’s stock valued at $819,000 after purchasing an additional 54 shares during the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of Reinsurance Group of America by 6.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 974 shares of the insurance provider’s stock valued at $198,000 after purchasing an additional 56 shares during the last quarter. Xponance Inc. lifted its holdings in shares of Reinsurance Group of America by 0.8% in the 3rd quarter. Xponance Inc. now owns 7,637 shares of the insurance provider’s stock valued at $1,467,000 after purchasing an additional 58 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Reinsurance Group of America by 12.2% in the 4th quarter. Covestor Ltd now owns 533 shares of the insurance provider’s stock valued at $108,000 after purchasing an additional 58 shares during the last quarter. 95.11% of the stock is owned by hedge funds and other institutional investors.

Reinsurance Group of America Stock Performance

Shares of RGA stock opened at $210.27 on Tuesday. The stock has a market capitalization of $13.77 billion, a PE ratio of 11.39 and a beta of 0.47. Reinsurance Group of America, Incorporated has a 52-week low of $165.52 and a 52-week high of $229.21. The stock’s 50-day moving average price is $208.30 and its 200 day moving average price is $205.90. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.46.

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

Reinsurance Group of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 19th were given a dividend of $0.93 per share. The ex-dividend date was Tuesday, May 19th. This represents a $3.72 annualized dividend and a yield of 1.8%. Reinsurance Group of America’s payout ratio is presently 20.15%.

Insider Activity at Reinsurance Group of America

In other Reinsurance Group of America news, EVP John W. Hayden sold 414 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total transaction of $88,989.30. Following the transaction, the executive vice president owned 20,949 shares in the company, valued at approximately $4,502,987.55. The trade was a 1.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Ronald Herrmann sold 7,000 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president owned 3,938 shares in the company, valued at $829,264.04. The trade was a 64.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RGA. Evercore reissued an “outperform” rating and issued a $267.00 target price on shares of Reinsurance Group of America in a report on Monday, May 18th. Weiss Ratings reissued a “buy (b)” rating on shares of Reinsurance Group of America in a report on Wednesday, May 13th. Piper Sandler reduced their target price on 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. Wells Fargo & Company boosted 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. Finally, JPMorgan Chase & Co. boosted 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. Seven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Reinsurance Group of America presently has an average rating of “Moderate Buy” and a consensus 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.