Optimal Asset Management Inc. grew its holdings in Reinsurance Group of America Inc (NYSE:RGA) by 187.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 26,646 shares of the insurance provider’s stock after acquiring an additional 17,369 shares during the quarter. Optimal Asset Management Inc.’s holdings in Reinsurance Group of America were worth $2,242,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Penn Capital Management Co. Inc. boosted its holdings in shares of Reinsurance Group of America by 0.4% during the 4th quarter. Penn Capital Management Co. Inc. now owns 16,160 shares of the insurance provider’s stock worth $2,635,000 after buying an additional 72 shares during the period. Signaturefd LLC raised its stake in shares of Reinsurance Group of America by 20.0% during the first quarter. Signaturefd LLC now owns 654 shares of the insurance provider’s stock worth $55,000 after acquiring an additional 109 shares in the last quarter. Cigna Investments Inc. New raised its stake in shares of Reinsurance Group of America by 1.6% during the first quarter. Cigna Investments Inc. New now owns 7,475 shares of the insurance provider’s stock worth $628,000 after acquiring an additional 120 shares in the last quarter. Brinker Capital Inc. increased its stake in shares of Reinsurance Group of America by 1.8% in the fourth quarter. Brinker Capital Inc. now owns 7,073 shares of the insurance provider’s stock worth $1,153,000 after buying an additional 126 shares during the period. Finally, Nissay Asset Management Corp Japan ADV increased its stake in shares of Reinsurance Group of America by 2.2% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 5,851 shares of the insurance provider’s stock worth $492,000 after buying an additional 126 shares during the period. Institutional investors and hedge funds own 94.03% of the company’s stock.

Shares of NYSE RGA traded down $2.91 during midday trading on Friday, hitting $74.99. 17,072 shares of the company’s stock traded hands, compared to its average volume of 1,110,330. Reinsurance Group of America Inc has a 1 year low of $55.39 and a 1 year high of $169.26. The stock has a market capitalization of $4.72 billion, a price-to-earnings ratio of 8.14 and a beta of 1.12. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.12 and a current ratio of 0.12. The firm has a fifty day moving average of $89.37 and a 200 day moving average of $120.05.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results on Tuesday, May 5th. The insurance provider reported $1.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.63 by ($1.22). Reinsurance Group of America had a net margin of 4.35% and a return on equity of 7.19%. The business had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same period in the previous year, the company earned $2.61 EPS. Reinsurance Group of America’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, equities analysts anticipate that Reinsurance Group of America Inc will post 7.22 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were paid a $0.70 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $2.80 dividend on an annualized basis and a yield of 3.73%. Reinsurance Group of America’s payout ratio is 20.97%.

Several research analysts recently commented on the stock. Piper Sandler assumed coverage on shares of Reinsurance Group of America in a research note on Friday, May 29th. They issued a “neutral” rating and a $102.00 target price on the stock. JPMorgan Chase & Co. decreased their target price on shares of Reinsurance Group of America from $150.00 to $140.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 6th. Credit Suisse Group decreased their target price on shares of Reinsurance Group of America from $144.00 to $110.00 and set a “neutral” rating on the stock in a research note on Monday, April 27th. Morgan Stanley reduced their price objective on shares of Reinsurance Group of America from $97.00 to $93.00 and set an “underweight” rating on the stock in a research report on Wednesday, June 3rd. Finally, Zacks Investment Research raised shares of Reinsurance Group of America from a “sell” rating to a “hold” rating and set a $118.00 price objective on the stock in a research report on Monday, April 13th. Three analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $124.63.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated engages in reinsurance business. It offers individual and group life and health insurance products, including term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products, as well as asset-intensive and financial reinsurance products.

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

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