Cambiar Investors LLC cut its position in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 7.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,479 shares of the insurance provider's stock after selling 5,939 shares during the quarter. Cambiar Investors LLC owned about 0.12% of Reinsurance Group of America worth $17,098,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in RGA. Zurich Insurance Group Ltd FI lifted its holdings in Reinsurance Group of America by 681.8% during the second quarter. Zurich Insurance Group Ltd FI now owns 507,840 shares of the insurance provider's stock valued at $104,244,000 after purchasing an additional 442,883 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Reinsurance Group of America by 43.8% during the 2nd quarter. Millennium Management LLC now owns 437,266 shares of the insurance provider's stock valued at $89,758,000 after buying an additional 133,212 shares in the last quarter. Jupiter Asset Management Ltd. bought a new position in Reinsurance Group of America in the 1st quarter worth approximately $24,918,000. Earnest Partners LLC boosted its holdings in Reinsurance Group of America by 4.2% in the 1st quarter. Earnest Partners LLC now owns 2,577,901 shares of the insurance provider's stock worth $497,226,000 after buying an additional 104,256 shares during the period. Finally, M&G Plc purchased a new position in Reinsurance Group of America in the 1st quarter valued at approximately $15,658,000. Hedge funds and other institutional investors own 95.11% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on RGA shares. Keefe, Bruyette & Woods raised Reinsurance Group of America from a "moderate buy" rating to a "strong-buy" rating in a report on Thursday, October 3rd. Raymond James raised their target price on Reinsurance Group of America from $228.00 to $250.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, September 24th. Morgan Stanley decreased their price target on Reinsurance Group of America from $238.00 to $236.00 and set an "equal weight" rating on the stock in a research report on Monday, August 19th. Wells Fargo & Company raised their price objective on shares of Reinsurance Group of America from $239.00 to $244.00 and gave the company an "overweight" rating in a research report on Thursday, October 10th. Finally, Citigroup boosted their price objective on shares of Reinsurance Group of America from $194.00 to $252.00 and gave the company a "buy" rating in a research note on Tuesday, July 23rd. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Reinsurance Group of America has a consensus rating of "Moderate Buy" and a consensus price target of $226.62.
Read Our Latest Stock Analysis on RGA
Insider Transactions at Reinsurance Group of America
In related news, EVP William L. Hutton sold 1,209 shares of the stock in a transaction on 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.37% of the company's stock.
Reinsurance Group of America Price Performance
Shares of NYSE RGA traded up $4.02 during mid-day trading on Friday, reaching $215.10. 924,285 shares of the company were exchanged, compared to its average volume of 317,857. Reinsurance Group of America, Incorporated has a 52 week low of $146.16 and a 52 week high of $227.87. The company's 50 day moving average price is $215.72 and its 200 day moving average price is $209.22. The stock has a market capitalization of $14.17 billion, a PE ratio of 19.75 and a beta of 0.92. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.52.
Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $1.02. The firm had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.29 billion. Reinsurance Group of America had a return on equity of 15.68% and a net margin of 3.32%. The company's revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.57 earnings per share. Sell-side analysts forecast that Reinsurance Group of America, Incorporated will post 21.8 earnings per share for the current fiscal year.
Reinsurance Group of America Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 1.66%. 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
(
Free Report)
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.
Featured Stories
Before you consider Reinsurance Group of America, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Reinsurance Group of America wasn't on the list.
While Reinsurance Group of America currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.