Capital Asset Advisory Services LLC Sells 76 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Capital Asset Advisory Services LLC reduced its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 5.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,271 shares of the insurance provider’s stock after selling 76 shares during the period. Capital Asset Advisory Services LLC’s holdings in Reinsurance Group of America were worth $246,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Hsbc Holdings PLC lifted its holdings in Reinsurance Group of America by 39.2% during the third quarter. Hsbc Holdings PLC now owns 29,074 shares of the insurance provider’s stock worth $4,253,000 after acquiring an additional 8,184 shares in the last quarter. LPL Financial LLC lifted its holdings in Reinsurance Group of America by 4.4% during the third quarter. LPL Financial LLC now owns 25,037 shares of the insurance provider’s stock worth $3,635,000 after acquiring an additional 1,065 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in Reinsurance Group of America by 5.2% during the third quarter. Treasurer of the State of North Carolina now owns 42,460 shares of the insurance provider’s stock worth $6,165,000 after acquiring an additional 2,087 shares in the last quarter. Gotham Asset Management LLC bought a new position in Reinsurance Group of America during the third quarter worth about $1,854,000. Finally, Quadrature Capital Ltd bought a new position in Reinsurance Group of America during the third quarter worth about $333,000. 95.11% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Reinsurance Group of America news, EVP John W. Hayden sold 1,767 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $206.85, for a total transaction of $365,503.95. Following the transaction, the executive vice president now owns 16,490 shares of the company’s stock, valued at $3,410,956.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.37% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. UBS Group lifted their target price on Reinsurance Group of America from $223.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Piper Sandler lifted their price target on Reinsurance Group of America from $228.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday. Morgan Stanley lifted their price target on Reinsurance Group of America from $178.00 to $185.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Evercore ISI lifted their price target on Reinsurance Group of America from $225.00 to $241.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Raymond James lifted their price target on Reinsurance Group of America from $212.00 to $228.00 and gave the company a “strong-buy” rating in a research note on Friday, June 14th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $220.00.

Reinsurance Group of America Stock Down 0.4 %

Shares of NYSE:RGA traded down $0.84 during midday trading on Friday, reaching $205.27. The company had a trading volume of 515,261 shares, compared to its average volume of 352,582. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average price is $203.58 and its 200 day moving average price is $184.79. The stock has a market cap of $13.50 billion, a PE ratio of 15.95 and a beta of 0.92. Reinsurance Group of America, Incorporated has a 1-year low of $135.07 and a 1-year high of $213.21.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Friday, May 3rd. The insurance provider reported $6.02 earnings per share for the quarter, topping analysts’ consensus estimates of $4.55 by $1.47. The firm had revenue of $6.34 billion for the quarter, compared to the consensus estimate of $4.54 billion. Reinsurance Group of America had a return on equity of 15.94% and a net margin of 4.16%. During the same quarter in the previous year, the business earned $5.16 earnings per share. Research analysts forecast that Reinsurance Group of America, Incorporated will post 20.94 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date was Monday, May 13th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 26.42%.

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.