Curated Wealth Partners LLC Acquires New Position in Reinsurance Group of America, Incorporated $RGA

Curated Wealth Partners LLC acquired a new stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,889 shares of the insurance provider’s stock, valued at approximately $465,000.

A number of other large investors have also modified their holdings of the company. WCM Investment Management LLC lifted its position in Reinsurance Group of America by 3.0% in the first quarter. WCM Investment Management LLC now owns 2,830,620 shares of the insurance provider’s stock worth $566,803,000 after purchasing an additional 82,681 shares during the period. Dimensional Fund Advisors LP boosted its stake in Reinsurance Group of America by 1.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,114,998 shares of the insurance provider’s stock worth $227,624,000 after buying an additional 15,372 shares in the last quarter. Sei Investments Co. increased its holdings in Reinsurance Group of America by 1.0% in the 1st quarter. Sei Investments Co. now owns 837,391 shares of the insurance provider’s stock valued at $170,960,000 after buying an additional 8,221 shares during the period. First Trust Advisors LP increased its holdings in Reinsurance Group of America by 5.1% in the 1st quarter. First Trust Advisors LP now owns 479,000 shares of the insurance provider’s stock valued at $97,793,000 after buying an additional 23,105 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Reinsurance Group of America by 0.6% in the 1st quarter. Bank of New York Mellon Corp now owns 417,970 shares of the insurance provider’s stock valued at $85,333,000 after buying an additional 2,493 shares during the period. 95.11% of the stock is currently owned by institutional investors and hedge funds.

Reinsurance Group of America Price Performance

RGA opened at $266.15 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.14 and a quick ratio of 0.14. The stock has a market capitalization of $17.38 billion, a P/E ratio of 8.81 and a beta of 0.45. The company’s 50 day simple moving average is $249.31 and its 200-day simple moving average is $227.83. Reinsurance Group of America, Incorporated has a one year low of $178.21 and a one year high of $267.46.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Thursday, August 6th. The insurance provider reported $8.89 earnings per share for the quarter, topping the consensus estimate of $6.50 by $2.39. Reinsurance Group of America had a net margin of 5.81% and a return on equity of 14.78%. The firm had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.67 billion. During the same quarter in the previous year, the company posted $4.72 EPS. Reinsurance Group of America’s revenue was up 18.5% on a year-over-year basis. Sell-side analysts anticipate that Reinsurance Group of America, Incorporated will post 29.75 earnings per share for the current fiscal year.

Reinsurance Group of America Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th were paid a $0.98 dividend. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $3.92 annualized dividend and a dividend yield of 1.5%. Reinsurance Group of America’s payout ratio is 17.22%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on RGA shares. TD Cowen increased their price target on shares of Reinsurance Group of America from $212.00 to $235.00 and gave the stock a “hold” rating in a research report on Wednesday, July 22nd. Barclays set a $292.00 price objective on Reinsurance Group of America in a report on Thursday, October 8th. Morgan Stanley upgraded Reinsurance Group of America from an “equal weight” rating to an “overweight” rating and set a $295.00 price objective on the stock in a research note on Monday, September 28th. UBS Group upgraded Reinsurance Group of America from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. Finally, JPMorgan Chase & Co. increased their target price on Reinsurance Group of America from $293.00 to $297.00 and gave the stock an “overweight” rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $268.33.

Insider Activity at Reinsurance Group of America

In other news, EVP Jonathan Porter sold 8,589 shares of the company’s stock in a transaction on 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 transaction, the executive vice president owned 14,885 shares of the company’s stock, valued at $3,666,175.50. This represents a 36.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.60% of the company’s stock.

Reinsurance Group of America Profile

Reinsurance Group of America, Incorporated (NYSE:RGA) is a global provider of life and health reinsurance. The company helps insurance organizations manage mortality, longevity, morbidity and other insurance risks by assuming portions of their business and providing capital, risk-management expertise and specialized underwriting support.

RGA offers traditional reinsurance and financial solutions for individual life insurance, group life and health coverage, retirement and annuity products, long-term care and disability insurance.