Vestcor Inc Cuts Stock Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Vestcor Inc decreased its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 75.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,243 shares of the insurance provider's stock after selling 3,739 shares during the quarter. Vestcor Inc's holdings in Reinsurance Group of America were worth $271,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Barclays PLC increased its position in shares of Reinsurance Group of America by 5.5% during the third quarter. Barclays PLC now owns 102,790 shares of the insurance provider's stock valued at $22,396,000 after acquiring an additional 5,398 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Reinsurance Group of America by 22.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 42,520 shares of the insurance provider's stock valued at $9,264,000 after purchasing an additional 7,714 shares during the last quarter. MML Investors Services LLC raised its stake in shares of Reinsurance Group of America by 91.7% during the 3rd quarter. MML Investors Services LLC now owns 33,321 shares of the insurance provider's stock worth $7,260,000 after purchasing an additional 15,943 shares during the period. Stifel Financial Corp boosted its holdings in shares of Reinsurance Group of America by 8.2% in the 3rd quarter. Stifel Financial Corp now owns 366,601 shares of the insurance provider's stock worth $79,872,000 after buying an additional 27,931 shares during the last quarter. Finally, Quantinno Capital Management LP grew its position in Reinsurance Group of America by 18.7% during the third quarter. Quantinno Capital Management LP now owns 20,478 shares of the insurance provider's stock valued at $4,462,000 after buying an additional 3,226 shares during the period. Hedge funds and other institutional investors own 95.11% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on RGA shares. Morgan Stanley dropped their target price on shares of Reinsurance Group of America from $238.00 to $236.00 and set an "equal weight" rating on the stock in a research note on Monday, August 19th. 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. Piper Sandler upped their price target on Reinsurance Group of America from $237.00 to $242.00 and gave the company an "overweight" rating in a research report on Wednesday, October 2nd. Barclays boosted their price objective on Reinsurance Group of America from $250.00 to $255.00 and gave the company an "overweight" rating in a research note on Friday, November 22nd. Finally, Royal Bank of Canada increased their target price on shares of Reinsurance Group of America from $235.00 to $245.00 and gave the stock an "outperform" rating in a research report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $227.77.

Insider Activity at Reinsurance Group of America

In related news, EVP William L. Hutton sold 1,209 shares of the business's stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total value of $264,734.73. Following the completion of the sale, the executive vice president now owns 12,357 shares in the company, valued at $2,705,812.29. The trade was a 8.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.37% of the stock is currently owned by insiders.

Reinsurance Group of America Price Performance

NYSE RGA traded up $0.94 on Friday, hitting $212.27. The stock had a trading volume of 496,446 shares, compared to its average volume of 355,613. The firm has a 50-day moving average of $220.22 and a 200-day moving average of $214.28. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.17 and a current ratio of 0.17. Reinsurance Group of America, Incorporated has a 52-week low of $157.48 and a 52-week high of $233.81. The company has a market capitalization of $13.98 billion, a price-to-earnings ratio of 19.49 and a beta of 0.93.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.31 by $0.82. The company 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 15.01% and a net margin of 3.32%. The firm's quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company earned $5.57 earnings per share. Equities analysts expect that Reinsurance Group of America, Incorporated will post 21.67 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were given a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.68%. The ex-dividend date was Friday, November 8th. Reinsurance Group of America's dividend payout ratio (DPR) is 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.