California Public Employees Retirement System Sells 16,562 Shares of Reinsurance Group of America, Incorporated $RGA

California Public Employees Retirement System trimmed its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 9.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 159,725 shares of the insurance provider’s stock after selling 16,562 shares during the quarter. California Public Employees Retirement System’s holdings in Reinsurance Group of America were worth $32,609,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of analysts have commented on RGA shares. Piper Sandler reduced their target price on Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Barclays upped their price target on Reinsurance Group of America from $268.00 to $278.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. UBS Group boosted their target price on Reinsurance Group of America from $220.00 to $236.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Wells Fargo & Company raised their price target on shares of Reinsurance Group of America from $261.00 to $269.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Finally, Wall Street Zen upgraded shares of Reinsurance Group of America from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Seven investment 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $257.50.

Insider Activity at Reinsurance Group of America

In other 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 value of $1,474,060.00. Following the transaction, the executive vice president owned 3,938 shares in the company, valued at $829,264.04. This represents a 64.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 stock was sold at an average price of $214.95, for a total transaction of $88,989.30. Following the completion of the transaction, the executive vice president directly owned 20,949 shares in the company, valued at approximately $4,502,987.55. The trade was a 1.94% decrease in their position. The SEC filing for this sale provides additional information. 0.60% of the stock is owned by corporate insiders.

Reinsurance Group of America Stock Performance

Shares of RGA opened at $238.97 on Wednesday. The firm has a market capitalization of $15.65 billion, a P/E ratio of 12.95 and a beta of 0.47. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.14 and a quick ratio of 0.14. Reinsurance Group of America, Incorporated has a one year low of $165.52 and a one year high of $245.00. The business has a fifty day moving average of $215.17 and a 200 day moving average of $210.18.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, May 7th. The insurance provider reported $6.97 earnings per share for the quarter, beating analysts’ consensus estimates of $6.03 by $0.94. The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.47 billion. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.Reinsurance Group of America’s revenue was up 23.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.66 earnings per share. As a group, sell-side analysts anticipate that Reinsurance Group of America, Incorporated will post 26.86 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 19th were given a dividend of $0.93 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $3.72 annualized dividend and a dividend yield of 1.6%. Reinsurance Group of America’s dividend payout ratio is presently 20.15%.

About Reinsurance Group of America

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.