Insurance is drawing a lot of media attention right now, on the back of the Trump repeal of Obamacare, but that’s not the only side of the industry that warrants focus. Reinsurance is just as hot, and there are plenty of deals to be done in the space for the right player. Here’s an example of just that, involving Reinsurance Group of America and Blackrock.
In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Reinsurance Group Of America Inc. (NYSE:RGA) reported that Blackrock Inc. has picked up 622 of common stock as of 2017-01-25.
The acquisition brings the aggregate amount owned by Blackrock Inc. to a total of 622 representing a 9.7% stake in the company.
For those not familiar with the company, Reinsurance Group of America, Incorporated (RGA) is an insurance holding company. The Company provides traditional and non-traditional life and health reinsurance. The Company has geographic-based or function-based segments, including U.S. and Latin America; Canada; Europe, Middle East and Africa; Asia Pacific, and Corporate and Other. Its geographic-based operations are further segmented into traditional and non-traditional businesses. Its subsidiaries include Reinsurance Company of Missouri, Incorporated, RGA Americas Reinsurance Company, Ltd., RGA Reinsurance Company (Barbados) Ltd. and RGA Reinsurance Company of Australia Limited. Traditional reinsurance includes individual and group life and health, disability, and critical illness reinsurance.
A glance at Reinsurance Group Of America Inc. (NYSE:RGA)’s key stats reveals a current market capitalization of 8.10 billion based on 64.21 million shares outstanding and a price at last close of $125.37 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2015-08-05, Barrameda picked up 1,200 at a purchase price of $36.06. This brings their total holding to 47,876 as of the date of the filing.
On the sell side, the most recent transaction saw Omtvedt unload 2,300 shares at a sale price of $70.00. This brings their total holding to 28,392.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Reinsurance Group Of America Inc. (NYSE:RGA) as things move forward to see if its progress aligns with these transactions.