Reinsurance Group of America, Incorporated (NYSE:RGA) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 23.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,384 shares of the insurance provider's stock after selling 9,834 shares during the period. Amalgamated Bank's holdings in Reinsurance Group of America were worth $6,838,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of RGA. Armstrong Advisory Group Inc. purchased a new stake in shares of Reinsurance Group of America during the third quarter worth $25,000. New Covenant Trust Company N.A. purchased a new position in shares of Reinsurance Group of America during the first quarter worth approximately $28,000. International Assets Investment Management LLC purchased a new position in Reinsurance Group of America in the second quarter worth $28,000. Family Firm Inc. acquired a new position in Reinsurance Group of America during the second quarter valued at $29,000. Finally, LRI Investments LLC acquired a new position in Reinsurance Group of America during the first quarter valued at $33,000. Institutional investors own 95.11% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RGA shares. TD Cowen initiated coverage on shares of Reinsurance Group of America in a research report on Wednesday, October 9th. They set a "hold" rating and a $235.00 target price for the company. Barclays cut 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 report on Tuesday, October 8th. Morgan Stanley cut their price objective on shares of Reinsurance Group of America from $238.00 to $236.00 and set an "equal weight" rating for the company in a report on Monday, August 19th. Raymond James lifted their price objective on shares of Reinsurance Group of America from $228.00 to $250.00 and gave the company a "strong-buy" rating in a report on Tuesday, September 24th. Finally, Piper Sandler boosted their target price on shares of Reinsurance Group of America from $237.00 to $242.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $227.38.

Insider Transactions at Reinsurance Group of America

In related news, EVP William L. Hutton sold 1,209 shares of the business's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total transaction of $264,734.73. Following the sale, the executive vice president now directly owns 12,357 shares in the company, valued at approximately $2,705,812.29. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.37% of the stock is owned by corporate insiders.

Reinsurance Group of America Price Performance

Shares of RGA traded down $7.26 during trading hours on Thursday, hitting $220.40. 331,708 shares of the company were exchanged, compared to its average volume of 356,859. The company has a market cap of $14.52 billion, a price-to-earnings ratio of 20.23 and a beta of 0.92. Reinsurance Group of America, Incorporated has a fifty-two week low of $154.79 and a fifty-two week high of $227.87. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.45. The firm's fifty day moving average is $215.96 and its 200 day moving average is $209.94.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The insurance provider reported $6.13 earnings per share for the quarter, beating the consensus estimate of $5.31 by $0.82. The business had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.29 billion. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. Reinsurance Group of America's revenue was up 9.7% compared to the same quarter last year. During the same period last year, the firm posted $5.57 earnings per share. On average, equities analysts anticipate that Reinsurance Group of America, Incorporated will post 21.74 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.62%. The ex-dividend date is Tuesday, November 12th. Reinsurance Group of America's dividend payout ratio (DPR) is presently 32.69%.

About Reinsurance Group of America

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.