Artemis Investment Management LLP Has $12.88 Million Stock Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Artemis Investment Management LLP grew its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 9.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 62,748 shares of the insurance provider’s stock after purchasing an additional 5,477 shares during the period. Artemis Investment Management LLP’s holdings in Reinsurance Group of America were worth $12,880,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Lindbrook Capital LLC raised its holdings in shares of Reinsurance Group of America by 129.9% in the fourth quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock valued at $25,000 after buying an additional 87 shares during the last quarter. Pineridge Advisors LLC bought a new position in shares of Reinsurance Group of America in the fourth quarter valued at about $26,000. New Covenant Trust Company N.A. bought a new stake in Reinsurance Group of America during the 1st quarter worth about $28,000. Rise Advisors LLC bought a new stake in Reinsurance Group of America during the 1st quarter worth about $29,000. Finally, LRI Investments LLC bought a new stake in Reinsurance Group of America during the 1st quarter worth about $33,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

Insider Activity

In related news, EVP John W. Hayden sold 1,767 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $206.85, for a total value of $365,503.95. Following the sale, the executive vice president now owns 16,490 shares in the company, valued at approximately $3,410,956.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.37% of the stock is currently owned by insiders.

Reinsurance Group of America Stock Up 0.7 %

NYSE:RGA traded up $1.40 during trading hours on Monday, reaching $204.71. 91,382 shares of the stock were exchanged, compared to its average volume of 378,483. Reinsurance Group of America, Incorporated has a twelve month low of $135.07 and a twelve month high of $227.87. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.17 and a quick ratio of 0.19. The firm has a 50 day moving average of $208.73 and a 200 day moving average of $194.83. The stock has a market cap of $13.47 billion, a PE ratio of 15.74 and a beta of 0.92.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, beating the consensus estimate of $4.94 by $0.54. The company had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $5.07 billion. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.40 EPS. On average, equities analysts expect that Reinsurance Group of America, Incorporated will post 21.24 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Friday, August 9th. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.85. Reinsurance Group of America’s dividend payout ratio is presently 27.66%.

Analysts Set New Price Targets

Several brokerages have weighed in on RGA. Evercore ISI boosted their price objective on Reinsurance Group of America from $225.00 to $241.00 and gave the stock an “outperform” rating in a report on Wednesday, June 26th. Piper Sandler boosted their price objective on Reinsurance Group of America from $228.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, June 28th. Citigroup boosted their price objective on Reinsurance Group of America from $194.00 to $252.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Wells Fargo & Company boosted their price objective on Reinsurance Group of America from $236.00 to $239.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Jefferies Financial Group boosted their price objective on Reinsurance Group of America from $63.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $218.73.

Reinsurance Group of America Company Profile

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.