Reinsurance Group of America, Incorporated $RGA Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System cut its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 3.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 72,331 shares of the insurance provider’s stock after selling 2,550 shares during the quarter. New York State Teachers Retirement System’s holdings in Reinsurance Group of America were worth $14,767,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Activest Wealth Management purchased a new stake in shares of Reinsurance Group of America during the fourth quarter worth about $30,000. Tobam raised its position in shares of Reinsurance Group of America by 244.7% in the 4th quarter. Tobam now owns 162 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 115 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Reinsurance Group of America in the 4th quarter worth approximately $35,000. Advisory Services Network LLC acquired a new stake in Reinsurance Group of America in the 3rd quarter worth approximately $38,000. Finally, Entrust Financial LLC purchased a new stake in Reinsurance Group of America during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

Analysts Set New Price Targets

RGA has been the topic of a number of recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Reinsurance Group of America in a research note on Wednesday, May 13th. JPMorgan Chase & Co. boosted their price objective on shares of Reinsurance Group of America from $264.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. UBS Group upped their target price on Reinsurance Group of America from $216.00 to $220.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. Evercore restated an “outperform” rating and issued a $267.00 target price on shares of Reinsurance Group of America in a research note on Monday, May 18th. Finally, Piper Sandler lowered their price target on Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. Seven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Reinsurance Group of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $251.25.

Insider Transactions at Reinsurance Group of America

In related news, EVP John W. Hayden sold 414 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $214.95, for a total transaction of $88,989.30. Following the sale, the executive vice president directly owned 20,949 shares of the company’s stock, valued at $4,502,987.55. This trade represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ronald Herrmann sold 7,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $210.58, for a total value of $1,474,060.00. Following the sale, the executive vice president directly owned 3,938 shares in the company, valued at approximately $829,264.04. This trade represents a 64.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.60% of the company’s stock.

Reinsurance Group of America Stock Down 0.1%

RGA stock opened at $220.69 on Monday. The firm’s fifty day simple moving average is $209.54 and its 200-day simple moving average is $207.71. The company has a market capitalization of $14.46 billion, a P/E ratio of 11.96 and a beta of 0.47. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.14 and a quick ratio of 0.14. Reinsurance Group of America, Incorporated has a 12 month low of $165.52 and a 12 month high of $229.21.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Thursday, May 7th. The insurance provider reported $6.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.03 by $0.94. The firm had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.47 billion. Reinsurance Group of America had a net margin of 4.92% and a return on equity of 13.16%. The firm’s revenue was up 23.5% compared to the same quarter last year. During the same quarter last year, the company posted $5.66 earnings per share. As a group, equities research analysts forecast that Reinsurance Group of America, Incorporated will post 26.88 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 19th were given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Tuesday, May 19th. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 20.15%.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.