Reinsurance Group of America, Incorporated (NYSE:RGA) Shares Sold by Investors Asset Management of Georgia Inc. GA ADV

Investors Asset Management of Georgia Inc. GA ADV lowered its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 4.0% in the third quarter, HoldingsChannel reports. The fund owned 1,762 shares of the insurance provider’s stock after selling 74 shares during the quarter. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Reinsurance Group of America were worth $384,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of RGA. Earnest Partners LLC increased its position in Reinsurance Group of America by 1.9% during the second quarter. Earnest Partners LLC now owns 2,628,129 shares of the insurance provider’s stock worth $539,476,000 after purchasing an additional 50,228 shares during the last quarter. Sei Investments Co. grew its stake in shares of Reinsurance Group of America by 5.9% during the 2nd quarter. Sei Investments Co. now owns 825,719 shares of the insurance provider’s stock valued at $169,497,000 after buying an additional 45,709 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in shares of Reinsurance Group of America by 2.8% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 584,137 shares of the insurance provider’s stock worth $112,668,000 after buying an additional 15,926 shares during the last quarter. Zurich Insurance Group Ltd FI raised its position in shares of Reinsurance Group of America by 681.8% in the 2nd quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider’s stock worth $104,244,000 after buying an additional 442,883 shares during the period. Finally, Millennium Management LLC boosted its holdings in Reinsurance Group of America by 43.8% in the second quarter. Millennium Management LLC now owns 437,266 shares of the insurance provider’s stock valued at $89,758,000 after acquiring an additional 133,212 shares during the last quarter. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Reinsurance Group of America

In other news, EVP William L. Hutton sold 1,209 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $218.97, for a total transaction of $264,734.73. Following the transaction, the executive vice president now owns 12,357 shares of the company’s stock, valued at approximately $2,705,812.29. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. TD Cowen assumed coverage on Reinsurance Group of America in a research note on Wednesday, October 9th. They issued a “hold” rating and a $235.00 price objective on the stock. Royal Bank of Canada lifted their price target on shares of Reinsurance Group of America from $225.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Barclays dropped their price objective on shares of Reinsurance Group of America from $255.00 to $250.00 and set an “overweight” rating for the company in a research report on Tuesday, October 8th. Piper Sandler lifted their target price on shares of Reinsurance Group of America from $237.00 to $242.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. increased their price target on Reinsurance Group of America from $220.00 to $222.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $226.62.

Reinsurance Group of America Stock Up 1.9 %

Shares of NYSE:RGA traded up $4.02 during trading on Friday, hitting $215.10. The company’s stock had a trading volume of 924,285 shares, compared to its average volume of 317,857. The company has a market capitalization of $14.17 billion, a PE ratio of 19.76 and a beta of 0.92. Reinsurance Group of America, Incorporated has a fifty-two week low of $146.16 and a fifty-two week high of $227.87. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.17 and a current ratio of 0.17. The stock’s 50-day moving average price is $215.72 and its two-hundred day moving average price is $209.02.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.11 by $1.02. Reinsurance Group of America had a return on equity of 15.68% and a net margin of 3.32%. The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same period in the prior year, the company posted $5.57 EPS. Reinsurance Group of America’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, sell-side analysts expect that Reinsurance Group of America, Incorporated will post 21.8 EPS for the current year.

Reinsurance Group of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.66%. The ex-dividend date is Tuesday, November 12th. Reinsurance Group of America’s dividend payout ratio is currently 32.69%.

Reinsurance Group of America 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.