Impact Investors Inc lessened its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA – Free Report) by 66.2% in the first quarter, HoldingsChannel.com reports. The firm owned 1,384 shares of the insurance provider’s stock after selling 2,716 shares during the quarter. Impact Investors Inc’s holdings in Reinsurance Group of America were worth $283,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in RGA. Principal Securities Inc. grew its holdings in shares of Reinsurance Group of America by 3.6% in the fourth quarter. Principal Securities Inc. now owns 1,490 shares of the insurance provider’s stock worth $303,000 after purchasing an additional 52 shares during the last quarter. Rehmann Capital Advisory Group raised its holdings in Reinsurance Group of America by 1.3% during the 3rd quarter. Rehmann Capital Advisory Group now owns 4,281 shares of the insurance provider’s stock valued at $819,000 after buying an additional 54 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in Reinsurance Group of America by 6.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 974 shares of the insurance provider’s stock valued at $198,000 after buying an additional 56 shares during the last quarter. Covestor Ltd boosted its position in Reinsurance Group of America by 12.2% during the 4th quarter. Covestor Ltd now owns 533 shares of the insurance provider’s stock valued at $108,000 after buying an additional 58 shares during the period. Finally, Geneos Wealth Management Inc. boosted its position in Reinsurance Group of America by 17.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 388 shares of the insurance provider’s stock valued at $76,000 after buying an additional 58 shares during the period. Hedge funds and other institutional investors own 95.11% of the company’s stock.
Reinsurance Group of America Stock Performance
Shares of RGA stock opened at $227.87 on Thursday. The firm has a market capitalization of $14.93 billion, a price-to-earnings ratio of 12.34 and a beta of 0.47. The stock has a fifty day moving average of $210.62 and a 200 day moving average of $208.22. Reinsurance Group of America, Incorporated has a 52 week low of $165.52 and a 52 week high of $232.75. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.46.
Reinsurance Group of America Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th were given a dividend of $0.93 per share. The ex-dividend date was Tuesday, May 19th. This represents a $3.72 annualized dividend and a dividend yield of 1.6%. Reinsurance Group of America’s payout ratio is currently 20.15%.
Insider Activity
In other Reinsurance Group of America news, EVP John W. Hayden sold 414 shares of the firm’s 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 sale, the executive vice president directly owned 20,949 shares in the company, valued at $4,502,987.55. This trade represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Ronald Herrmann sold 7,000 shares of Reinsurance Group of America stock in a transaction that occurred on Thursday, May 14th. The shares were 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. The trade was a 64.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.60% of the stock is owned by insiders.
Wall Street Analyst Weigh In
RGA has been the topic of a number of analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Reinsurance Group of America in a research report on Wednesday, May 13th. Evercore reiterated an “outperform” rating and set a $267.00 target price on shares of Reinsurance Group of America in a report 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. Barclays boosted their price target on Reinsurance Group of America from $268.00 to $278.00 and gave the company an “overweight” rating in a report on Tuesday. 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 investment 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. Based on data from MarketBeat.com, Reinsurance Group of America currently has an average rating of “Moderate Buy” and an average price target of $254.50.
Read Our Latest Report on Reinsurance Group of America
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.
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