Bank of New York Mellon Corp Sells 65,105 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Bank of New York Mellon Corp decreased its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 8.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 669,555 shares of the insurance provider’s stock after selling 65,105 shares during the period. Bank of New York Mellon Corp owned about 1.02% of Reinsurance Group of America worth $143,037,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Private Advisor Group LLC boosted its holdings in Reinsurance Group of America by 4.2% in the third quarter. Private Advisor Group LLC now owns 4,169 shares of the insurance provider’s stock valued at $908,000 after acquiring an additional 169 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Reinsurance Group of America by 23,595.6% in the third quarter. International Assets Investment Management LLC now owns 32,463 shares of the insurance provider’s stock valued at $7,073,000 after acquiring an additional 32,326 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Reinsurance Group of America by 34.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,972 shares of the insurance provider’s stock valued at $1,083,000 after buying an additional 1,271 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Reinsurance Group of America by 4.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 12,068 shares of the insurance provider’s stock valued at $2,629,000 after buying an additional 515 shares in the last quarter. Finally, First Trust Direct Indexing L.P. boosted its holdings in shares of Reinsurance Group of America by 7.4% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,806 shares of the insurance provider’s stock valued at $393,000 after buying an additional 124 shares in the last quarter. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Price Performance

RGA opened at $202.78 on Friday. Reinsurance Group of America, Incorporated has a 1 year low of $174.45 and a 1 year high of $233.81. The stock has a 50-day moving average price of $214.26 and a 200-day moving average price of $216.12. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.15 and a quick ratio of 0.17. The firm has a market cap of $13.39 billion, a PE ratio of 18.88 and a beta of 0.93.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Thursday, February 6th. The insurance provider reported $4.99 earnings per share for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.23). Reinsurance Group of America had a return on equity of 14.55% and a net margin of 3.24%. Sell-side analysts predict that Reinsurance Group of America, Incorporated will post 22.9 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Tuesday, February 18th. Reinsurance Group of America’s dividend payout ratio (DPR) is 33.15%.

Analysts Set New Price Targets

A number of analysts have recently commented on RGA shares. Barclays dropped their target price on shares of Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Piper Sandler dropped their target price on shares of Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. JPMorgan Chase & Co. boosted their target price on shares of Reinsurance Group of America from $227.00 to $232.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Royal Bank of Canada restated an “outperform” rating and set a $245.00 target price on shares of Reinsurance Group of America in a report on Monday, February 10th. Finally, Morgan Stanley dropped their target price on shares of Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $229.62.

Reinsurance Group of America Company Profile

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.