Fmr LLC Trims Stake in Reinsurance Group of America, Incorporated (NYSE:RGA)

Fmr LLC lowered its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 0.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,076,095 shares of the insurance provider’s stock after selling 6,911 shares during the period. Fmr LLC owned 0.08% of Reinsurance Group of America worth $1,105,929,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of Reinsurance Group of America by 8.9% in the third quarter. GAMMA Investing LLC now owns 609 shares of the insurance provider’s stock worth $133,000 after buying an additional 50 shares in the last quarter. Resonant Capital Advisors LLC boosted its stake in Reinsurance Group of America by 1.2% during the 3rd quarter. Resonant Capital Advisors LLC now owns 4,368 shares of the insurance provider’s stock valued at $952,000 after purchasing an additional 53 shares during the last quarter. GHP Investment Advisors Inc. increased its holdings in shares of Reinsurance Group of America by 0.7% in the 2nd quarter. GHP Investment Advisors Inc. now owns 9,462 shares of the insurance provider’s stock worth $1,942,000 after purchasing an additional 62 shares in the last quarter. Baron Wealth Management LLC raised its stake in shares of Reinsurance Group of America by 4.5% in the third quarter. Baron Wealth Management LLC now owns 1,485 shares of the insurance provider’s stock worth $324,000 after purchasing an additional 64 shares during the last quarter. Finally, Tectonic Advisors LLC lifted its holdings in shares of Reinsurance Group of America by 3.0% during the third quarter. Tectonic Advisors LLC now owns 2,358 shares of the insurance provider’s stock valued at $514,000 after purchasing an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Price Performance

NYSE RGA opened at $229.46 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.17 and a current ratio of 0.17. The business’s fifty day moving average is $219.86 and its 200 day moving average is $213.42. The company has a market capitalization of $15.11 billion, a PE ratio of 21.07 and a beta of 0.92. Reinsurance Group of America, Incorporated has a fifty-two week low of $157.48 and a fifty-two week high of $233.81.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings data on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.31 by $0.82. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The company had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.29 billion. During the same period in the previous year, the company posted $5.57 EPS. The firm’s revenue was up 9.7% on a year-over-year basis. Sell-side analysts predict that Reinsurance Group of America, Incorporated will post 21.93 earnings per share for the current year.

Reinsurance Group of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were given a dividend of $0.89 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.56 annualized dividend and a dividend yield of 1.55%. Reinsurance Group of America’s payout ratio is 32.69%.

Insider Buying and Selling

In other news, EVP William L. Hutton sold 1,209 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $218.97, for a total value of $264,734.73. Following the transaction, the executive vice president now directly owns 12,357 shares in the company, valued at $2,705,812.29. The trade was a 8.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.37% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Morgan Stanley reduced their price objective on Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Wells Fargo & Company boosted 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 report on Thursday, October 10th. Piper Sandler raised their target price on shares of Reinsurance Group of America from $237.00 to $242.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Raymond James lifted their target price on shares of Reinsurance Group of America from $228.00 to $250.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. increased their price target on Reinsurance Group of America from $220.00 to $222.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Reinsurance Group of America has an average rating of “Moderate Buy” and an average target price of $227.77.

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.