New York State Teachers Retirement System Trims Position in Reinsurance Group of America, Incorporated $RGA

New York State Teachers Retirement System trimmed its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 3.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,331 shares of the insurance provider’s stock after selling 2,550 shares during the period. New York State Teachers Retirement System owned about 0.11% of Reinsurance Group of America worth $14,767,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Activest Wealth Management purchased a new position in shares of Reinsurance Group of America during the fourth quarter worth approximately $30,000. Tobam grew its stake in Reinsurance Group of America by 244.7% in the fourth quarter. Tobam now owns 162 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 115 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Reinsurance Group of America during the 4th quarter worth $35,000. Advisory Services Network LLC purchased a new position in Reinsurance Group of America during the 3rd quarter worth $38,000. Finally, Entrust Financial LLC bought a new stake in Reinsurance Group of America during the 4th quarter valued at $40,000. 95.11% of the stock is currently owned by institutional investors.

Reinsurance Group of America Trading Down 0.1%

Shares of NYSE RGA opened at $220.69 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.14 and a quick ratio of 0.14. The stock has a market capitalization of $14.46 billion, a P/E ratio of 11.96 and a beta of 0.47. Reinsurance Group of America, Incorporated has a 1-year low of $165.52 and a 1-year high of $229.21. The business has a fifty day moving average price of $209.54 and a 200 day moving average price of $207.71.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, May 7th. The insurance provider reported $6.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.03 by $0.94. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.47 billion. During the same quarter in the previous year, the firm earned $5.66 earnings per share. The firm’s quarterly revenue was up 23.5% compared to the same quarter last year. Equities research analysts expect that Reinsurance Group of America, Incorporated will post 26.88 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 19th were issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Tuesday, May 19th. Reinsurance Group of America’s dividend payout ratio (DPR) is currently 20.15%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on RGA shares. UBS Group upped their target price on Reinsurance Group of America from $216.00 to $220.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Piper Sandler lowered their price objective on shares of Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Evercore reiterated an “outperform” rating and set a $267.00 target price on shares of Reinsurance Group of America in a report on Monday, May 18th. Wall Street Zen raised shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Reinsurance Group of America in a report on Wednesday, May 13th. Seven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Reinsurance Group of America presently has an average rating of “Moderate Buy” and an average target price of $251.25.

Insider Buying and Selling

In related news, EVP Ronald Herrmann sold 7,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $210.58, for a total transaction of $1,474,060.00. Following the completion of the sale, the executive vice president owned 3,938 shares of the company’s stock, valued at $829,264.04. This represents a 64.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John W. Hayden sold 414 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $214.95, for a total transaction of $88,989.30. Following the completion of the sale, the executive vice president owned 20,949 shares of the company’s stock, valued at approximately $4,502,987.55. This trade represents a 1.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is owned by insiders.

Reinsurance Group of America Profile

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.