Public Employees Retirement System of Ohio Invests $6.53 Million in Reinsurance Group of America, Incorporated $RGA

Public Employees Retirement System of Ohio purchased a new stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 30,727 shares of the insurance provider’s stock, valued at approximately $6,534,000.

A number of other hedge funds have also recently modified their holdings of the company. Principal Securities Inc. increased its position in Reinsurance Group of America by 3.6% during the fourth quarter. Principal Securities Inc. now owns 1,490 shares of the insurance provider’s stock worth $303,000 after purchasing an additional 52 shares during the last quarter. Rehmann Capital Advisory Group boosted its holdings in 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 boosted its holdings in 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. Covestor Ltd grew its stake 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 buying an additional 58 shares during the period. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Reinsurance Group of America by 17.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 388 shares of the insurance provider’s stock worth $76,000 after buying an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Stock Up 0.5%

Shares of NYSE RGA opened at $247.30 on Wednesday. The firm has a market cap of $16.15 billion, a price-to-earnings ratio of 10.86 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 0.41. Reinsurance Group of America, Incorporated has a 52-week low of $178.21 and a 52-week high of $251.00. The business’s 50 day moving average is $235.89 and its two-hundred day moving average is $218.57.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results on Thursday, August 6th. The insurance provider reported $8.89 EPS for the quarter, topping analysts’ consensus estimates of $6.50 by $2.39. Reinsurance Group of America had a return on equity of 14.78% and a net margin of 5.81%.The company had revenue of $6.64 billion for the quarter, compared to analysts’ expectations of $6.67 billion. During the same period in the prior year, the firm earned $4.72 earnings per share. The firm’s revenue was up 18.5% compared to the same quarter last year. Research analysts predict that Reinsurance Group of America, Incorporated will post 29.22 EPS for the current year.

Reinsurance Group of America Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th were paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Tuesday, August 18th. This is a positive change from Reinsurance Group of America’s previous quarterly dividend of $0.93. Reinsurance Group of America’s dividend payout ratio is currently 17.22%.

Insider Buying and Selling

In related news, EVP Jonathan Porter sold 8,589 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $246.30, for a total transaction of $2,115,470.70. Following the completion of the transaction, the executive vice president directly owned 14,885 shares in the company, valued at $3,666,175.50. This trade represents a 36.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

RGA has been the topic of several analyst reports. Wells Fargo & Company lifted their price target on shares of Reinsurance Group of America from $269.00 to $291.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. JPMorgan Chase & Co. raised their target price on Reinsurance Group of America from $286.00 to $293.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. TD Cowen lifted their target price on 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. UBS Group raised Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. Finally, Morgan Stanley increased their price target on Reinsurance Group of America from $223.00 to $250.00 and gave the stock an “equal weight” rating in a report on Monday, August 24th. 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 issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $262.56.

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.