Ontario Teachers Pension Plan Board Lowers Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Ontario Teachers Pension Plan Board decreased its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 25.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,813 shares of the insurance provider’s stock after selling 604 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Reinsurance Group of America were worth $395,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First Horizon Advisors Inc. boosted its position in shares of Reinsurance Group of America by 105.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 312 shares of the insurance provider’s stock valued at $68,000 after acquiring an additional 160 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Reinsurance Group of America in the third quarter valued at approximately $11,803,000. Tranquility Partners LLC purchased a new position in Reinsurance Group of America in the 3rd quarter worth approximately $200,000. Caprock Group LLC bought a new position in shares of Reinsurance Group of America in the 3rd quarter worth $238,000. Finally, Pathstone Holdings LLC raised its position in shares of Reinsurance Group of America by 2.5% during the 3rd quarter. Pathstone Holdings LLC now owns 25,052 shares of the insurance provider’s stock valued at $5,458,000 after buying an additional 600 shares in the last quarter. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Reinsurance Group of America Stock Performance

Shares of NYSE:RGA opened at $230.74 on Friday. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average price of $219.09 and a 200-day moving average price of $212.85. The company has a market cap of $15.20 billion, a price-to-earnings ratio of 21.19 and a beta of 0.92. Reinsurance Group of America, Incorporated has a 12 month low of $157.48 and a 12 month high of $233.14.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results on Thursday, October 31st. The insurance provider reported $6.13 EPS for the quarter, beating analysts’ consensus estimates of $5.31 by $0.82. The business had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.29 billion. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. Reinsurance Group of America’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.57 EPS. As a group, equities analysts anticipate that Reinsurance Group of America, Incorporated will post 21.93 EPS for the current year.

Reinsurance Group of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.54%. The ex-dividend date is Friday, November 8th. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 32.69%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on RGA shares. Barclays increased their target price on Reinsurance Group of America from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday. Piper Sandler raised their price objective on Reinsurance Group of America from $237.00 to $242.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Morgan Stanley cut their target price on Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Royal Bank of Canada lifted their price target on shares of Reinsurance Group of America from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Finally, TD Cowen started coverage on shares of Reinsurance Group of America in a research note on Wednesday, October 9th. They issued a “hold” rating and a $235.00 price objective for the company. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Reinsurance Group of America currently has an average rating of “Moderate Buy” and a consensus target price of $227.77.

Insider Buying and Selling at Reinsurance Group of America

In other news, EVP William L. Hutton sold 1,209 shares of Reinsurance Group of America stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $218.97, for a total transaction of $264,734.73. Following the sale, the executive vice president now owns 12,357 shares of the company’s stock, valued at approximately $2,705,812.29. The trade was a 8.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.37% of the company’s stock.

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.