Skandinaviska Enskilda Banken AB publ Grows Stake in Reinsurance Group of America, Incorporated $RGA

Skandinaviska Enskilda Banken AB publ raised its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 300.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 144,588 shares of the insurance provider’s stock after purchasing an additional 108,467 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Reinsurance Group of America were worth $28,680,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in RGA. Norges Bank bought a new stake in shares of Reinsurance Group of America in the second quarter valued at about $167,955,000. Quadrature Capital Ltd increased its position in Reinsurance Group of America by 285.6% during the 2nd quarter. Quadrature Capital Ltd now owns 4,484 shares of the insurance provider’s stock valued at $889,000 after purchasing an additional 3,321 shares during the period. Capital Fund Management S.A. raised its holdings in shares of Reinsurance Group of America by 2.2% in the 2nd quarter. Capital Fund Management S.A. now owns 23,951 shares of the insurance provider’s stock valued at $4,751,000 after purchasing an additional 510 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in shares of Reinsurance Group of America in the 2nd quarter worth approximately $75,000. Finally, Quadrant Capital Group LLC boosted its stake in shares of Reinsurance Group of America by 83.0% during the second quarter. Quadrant Capital Group LLC now owns 5,683 shares of the insurance provider’s stock valued at $1,127,000 after purchasing an additional 2,578 shares in the last quarter. Institutional investors own 95.11% of the company’s stock.

Analyst Upgrades and Downgrades

RGA has been the topic of several research reports. Keefe, Bruyette & Woods cut their price objective on shares of Reinsurance Group of America from $255.00 to $240.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Raymond James Financial downgraded Reinsurance Group of America from a “market perform” rating to an “underperform” rating in a report on Friday, October 17th. Weiss Ratings reissued a “hold (c+)” rating on shares of Reinsurance Group of America in a research report on Wednesday, October 8th. Morgan Stanley decreased their price objective on Reinsurance Group of America from $210.00 to $195.00 and set an “equal weight” rating for the company in a research note on Monday, August 18th. Finally, Wells Fargo & Company cut their target price on Reinsurance Group of America from $249.00 to $241.00 and set an “overweight” rating on the stock in a research note on Monday, August 4th. Seven research 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 data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $239.89.

Reinsurance Group of America Stock Performance

Shares of RGA stock opened at $189.87 on Friday. Reinsurance Group of America, Incorporated has a 12-month low of $159.25 and a 12-month high of $232.97. The business’s fifty day simple moving average is $189.80 and its 200-day simple moving average is $193.38. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.47. The company has a market cap of $12.48 billion, a PE ratio of 16.48 and a beta of 0.62.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Thursday, October 30th. The insurance provider reported $6.37 earnings per share for the quarter, topping the consensus estimate of $5.80 by $0.57. Reinsurance Group of America had a return on equity of 12.56% and a net margin of 3.54%.The firm had revenue of $6.20 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same period in the previous year, the business earned $6.13 EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. Analysts expect that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 25th. Investors of record on Tuesday, November 11th were given a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Monday, November 10th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 28.62%.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated engages in reinsurance business. The company offers individual and group life and health insurance products, such as term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products; asset-intensive and financial reinsurance products; and other capital motivated solutions.