Louisiana State Employees Retirement System acquired a new stake in Reinsurance Group of America, Incorporated (NYSE:RGA – Free Report) in the first quarter, HoldingsChannel reports. The institutional investor acquired 19,100 shares of the insurance provider’s stock, valued at approximately $3,899,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Activest Wealth Management acquired a new stake in shares of Reinsurance Group of America during the 4th quarter valued at about $30,000. Tobam raised its position in Reinsurance Group of America by 244.7% in the fourth quarter. Tobam now owns 162 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 115 shares in the last quarter. International Assets Investment Management LLC bought a new position in Reinsurance Group of America during the fourth quarter worth about $35,000. Advisory Services Network LLC bought a new position in Reinsurance Group of America during the third quarter worth about $38,000. Finally, Entrust Financial LLC acquired a new stake in Reinsurance Group of America during the fourth quarter valued at approximately $40,000. 95.11% of the stock is owned by institutional investors.
Insider Buying and Selling at Reinsurance Group of America
In other news, EVP Ronald Herrmann sold 7,000 shares of the firm’s stock in a transaction on 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 completion of 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP John W. Hayden sold 414 shares of Reinsurance Group of America stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $214.95, for a total value of $88,989.30. Following the completion of the transaction, the executive vice president directly owned 20,949 shares of the company’s stock, valued at $4,502,987.55. This represents a 1.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.60% of the company’s stock.
Reinsurance Group of America Price Performance
Reinsurance Group of America (NYSE:RGA – Get Free Report) last posted its earnings results on Thursday, May 7th. The insurance provider reported $6.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.03 by $0.94. The company 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%. Reinsurance Group of America’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.66 earnings per share. On average, equities analysts predict that Reinsurance Group of America, Incorporated will post 26.88 earnings per share for the current fiscal year.
Reinsurance Group of America Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 19th were given a $0.93 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $3.72 annualized dividend and a yield of 1.7%. Reinsurance Group of America’s payout ratio is presently 20.15%.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on RGA. Evercore reiterated an “outperform” rating and issued a $267.00 price objective on shares of Reinsurance Group of America in a research note on Monday, May 18th. Wall Street Zen raised Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Reinsurance Group of America in a research report on Wednesday, May 13th. JPMorgan Chase & Co. increased their price objective on Reinsurance Group of America from $264.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Finally, Piper Sandler cut their price objective on Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $251.25.
Read Our Latest Analysis on Reinsurance Group of America
Reinsurance Group of America Company Profile
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.
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