New York State Common Retirement Fund Decreases Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

New York State Common Retirement Fund cut its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 4.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 208,421 shares of the insurance provider’s stock after selling 9,211 shares during the quarter. New York State Common Retirement Fund owned approximately 0.32% of Reinsurance Group of America worth $33,718,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in RGA. Toth Financial Advisory Corp increased its holdings in Reinsurance Group of America by 41.2% in the 4th quarter. Toth Financial Advisory Corp now owns 240 shares of the insurance provider’s stock worth $39,000 after acquiring an additional 70 shares during the last quarter. Tectonic Advisors LLC lifted its holdings in Reinsurance Group of America by 4.3% during the fourth quarter. Tectonic Advisors LLC now owns 1,979 shares of the insurance provider’s stock valued at $320,000 after purchasing an additional 82 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in Reinsurance Group of America by 129.9% during the fourth quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 87 shares during the last quarter. Aspire Private Capital LLC increased its stake in shares of Reinsurance Group of America by 4.8% in the third quarter. Aspire Private Capital LLC now owns 2,246 shares of the insurance provider’s stock worth $326,000 after purchasing an additional 103 shares in the last quarter. Finally, VisionPoint Advisory Group LLC increased its stake in shares of Reinsurance Group of America by 116.3% in the third quarter. VisionPoint Advisory Group LLC now owns 212 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 114 shares in the last quarter. 95.11% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Reinsurance Group of America

In other news, EVP William L. Hutton sold 1,588 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $171.83, for a total value of $272,866.04. Following the transaction, the executive vice president now owns 13,625 shares of the company’s stock, valued at approximately $2,341,183.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Todd C. Larson sold 2,966 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $182.88, for a total value of $542,422.08. Following the completion of the sale, the chief financial officer now owns 49,549 shares of the company’s stock, valued at approximately $9,061,521.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William L. Hutton sold 1,588 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $171.83, for a total transaction of $272,866.04. Following the completion of the sale, the executive vice president now directly owns 13,625 shares of the company’s stock, valued at approximately $2,341,183.75. The disclosure for this sale can be found here. Insiders have sold 6,462 shares of company stock valued at $1,162,239 in the last quarter. Insiders own 1.37% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on RGA shares. Evercore ISI boosted their price target on shares of Reinsurance Group of America from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Morgan Stanley boosted their price target on shares of Reinsurance Group of America from $178.00 to $185.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. JPMorgan Chase & Co. boosted their price target on shares of Reinsurance Group of America from $170.00 to $189.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. Piper Sandler boosted their price target on shares of Reinsurance Group of America from $195.00 to $220.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Finally, Wells Fargo & Company boosted their price target on shares of Reinsurance Group of America from $193.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $194.38.

Reinsurance Group of America Stock Performance

Reinsurance Group of America stock opened at $191.02 on Friday. The firm’s 50 day simple moving average is $184.07 and its 200 day simple moving average is $168.94. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $12.57 billion, a PE ratio of 14.22 and a beta of 0.89. Reinsurance Group of America, Incorporated has a 1-year low of $133.13 and a 1-year high of $196.25.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Friday, February 2nd. The insurance provider reported $4.73 EPS for the quarter, topping analysts’ consensus estimates of $4.40 by $0.33. The firm had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.57 billion. Reinsurance Group of America had a net margin of 4.86% and a return on equity of 16.20%. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.99 EPS. As a group, analysts expect that Reinsurance Group of America, Incorporated will post 19.41 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 13th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Monday, February 12th. Reinsurance Group of America’s payout ratio is 25.32%.

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.