Reinsurance Group of America, Incorporated (RGA) Stake Boosted by AQR Capital Management LLC

AQR Capital Management LLC raised its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 27.2% during the first quarter, Holdings Channel reports. The firm owned 1,552,081 shares of the insurance provider’s stock after buying an additional 331,580 shares during the period. AQR Capital Management LLC owned approximately 2.41% of Reinsurance Group of America, worth $197,084,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Cadence Capital Management LLC acquired a new stake in shares of Reinsurance Group of America, during the fourth quarter valued at about $230,000. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Reinsurance Group of America, during the fourth quarter valued at about $331,000. State Board of Administration of Florida Retirement System increased its stake in shares of Reinsurance Group of America, by 2.5% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 80,982 shares of the insurance provider’s stock valued at $10,190,000 after buying an additional 1,968 shares during the period. State Street Corp increased its stake in shares of Reinsurance Group of America, by 21.7% in the fourth quarter. State Street Corp now owns 2,190,358 shares of the insurance provider’s stock valued at $275,615,000 after buying an additional 389,831 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Reinsurance Group of America, by 0.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,506 shares of the insurance provider’s stock valued at $1,196,000 after buying an additional 30 shares during the period. Institutional investors own 94.77% of the company’s stock.

Institutional Ownership by Quarter for Reinsurance Group of America, (NYSE:RGA)

Reinsurance Group of America, Incorporated (NYSE:RGA) traded up 0.79% on Friday, hitting $128.75. The company had a trading volume of 354,331 shares. Reinsurance Group of America, Incorporated has a one year low of $90.26 and a one year high of $132.79. The company has a market capitalization of $8.29 billion, a P/E ratio of 10.88 and a beta of 0.83. The stock’s 50-day moving average price is $125.60 and its 200 day moving average price is $126.33.

Reinsurance Group of America, (NYSE:RGA) last issued its earnings results on Thursday, April 27th. The insurance provider reported $1.86 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by $0.25. Reinsurance Group of America, had a net margin of 6.41% and a return on equity of 8.43%. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.86 billion. During the same period in the previous year, the firm earned $1.85 earnings per share. The business’s quarterly revenue was up 19.7% on a year-over-year basis. On average, analysts expect that Reinsurance Group of America, Incorporated will post $9.63 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 30th. Investors of record on Tuesday, May 9th were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend was Friday, May 5th. Reinsurance Group of America,’s payout ratio is 13.84%.

COPYRIGHT VIOLATION NOTICE: This news story was first posted by sleekmoney and is owned by of sleekmoney. If you are reading this news story on another site, it was illegally stolen and reposted in violation of United States and international copyright laws. The legal version of this news story can be read at https://sleekmoney.com/reinsurance-group-of-america-incorporated-rga-stake-boosted-by-aqr-capital-management-llc/1916547.html.

Several equities research analysts have issued reports on RGA shares. Zacks Investment Research upgraded Reinsurance Group of America, from a “hold” rating to a “buy” rating and set a $141.00 price target for the company in a report on Monday, March 27th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $125.00 price target on shares of Reinsurance Group of America, in a report on Thursday, April 6th. Wells Fargo & Company restated a “hold” rating on shares of Reinsurance Group of America, in a report on Friday, April 28th. Royal Bank of Canada restated a “hold” rating and issued a $127.00 price target on shares of Reinsurance Group of America, in a report on Friday, April 28th. Finally, Jefferies Group LLC lowered their price target on Reinsurance Group of America, from $80.00 to $77.00 and set a “hold” rating for the company in a report on Monday, May 1st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. Reinsurance Group of America, has a consensus rating of “Hold” and an average price target of $119.00.

In related news, Director Christine Rose Detrick sold 500 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $127.00, for a total value of $63,500.00. Following the completion of the sale, the director now directly owns 5,432 shares of the company’s stock, valued at approximately $689,864. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.47% of the company’s stock.

Reinsurance Group of America, Company Profile

Reinsurance Group of America, Incorporated (RGA) is an insurance holding company. The Company provides traditional life and health reinsurance and financial solutions with operations in the United States, Latin America, Canada, Europe, Africa, Asia and Australia. It has geographic-based and business-based operational segments, including U.S.

Want to see what other hedge funds are holding RGA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Reinsurance Group of America, Incorporated (NYSE:RGA).

This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/reinsurance-group-of-america-incorporated-rga-stake-boosted-by-aqr-capital-management-llc/1916547.html

Receive News & Ratings for Reinsurance Group of America Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reinsurance Group of America Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.

 

Leave a Reply

Your email address will not be published. Required fields are marked *