Arizona State Retirement System Has $3 Million Stock Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Arizona State Retirement System lowered its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 2.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,510 shares of the insurance provider’s stock after selling 436 shares during the period. Arizona State Retirement System’s holdings in Reinsurance Group of America were worth $2,995,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of RGA. Moneta Group Investment Advisors LLC raised its holdings in shares of Reinsurance Group of America by 129,207.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 12,117,433 shares of the insurance provider’s stock worth $1,721,766,000 after buying an additional 12,108,062 shares in the last quarter. Norges Bank acquired a new position in Reinsurance Group of America in the 4th quarter worth about $96,942,000. Morgan Stanley increased its holdings in Reinsurance Group of America by 121.0% in the 4th quarter. Morgan Stanley now owns 930,151 shares of the insurance provider’s stock worth $132,165,000 after purchasing an additional 509,220 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Reinsurance Group of America by 446.0% in the 3rd quarter. Alliancebernstein L.P. now owns 581,096 shares of the insurance provider’s stock worth $73,108,000 after purchasing an additional 474,672 shares in the last quarter. Finally, Virginia Retirement Systems ET AL acquired a new position in Reinsurance Group of America in the 2nd quarter worth about $55,143,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

Reinsurance Group of America Stock Down 2.9 %

Shares of NYSE:RGA opened at $189.28 on Wednesday. The business’s 50 day simple moving average is $179.97 and its two-hundred day simple moving average is $165.81. The firm has a market cap of $12.45 billion, a P/E ratio of 14.09 and a beta of 0.89. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.17 and a current ratio of 0.17. Reinsurance Group of America, Incorporated has a 52-week low of $132.72 and a 52-week high of $196.25.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Friday, February 2nd. The insurance provider reported $4.73 EPS for the quarter, topping the consensus estimate of $4.40 by $0.33. The firm had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.57 billion. Reinsurance Group of America had a return on equity of 16.20% and a net margin of 4.86%. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.99 earnings per share. As a group, research analysts forecast that Reinsurance Group of America, Incorporated will post 19.38 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 13th were paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend was Monday, February 12th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 25.32%.

Insider Transactions at Reinsurance Group of America

In related news, EVP William L. Hutton sold 1,588 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was 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 $2,341,183.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP William L. Hutton sold 1,588 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was 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 $2,341,183.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William L. Hutton sold 1,908 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $181.84, for a total value of $346,950.72. Following the sale, the executive vice president now directly owns 13,363 shares of the company’s stock, valued at $2,429,927.92. The disclosure for this sale can be found here. Insiders sold a total of 6,462 shares of company stock valued at $1,162,239 over the last ninety days. 1.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wells Fargo & Company upped their price target on Reinsurance Group of America from $186.00 to $193.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $200.00 price target on shares of Reinsurance Group of America in a research report on Tuesday, March 26th. Piper Sandler upped their price target on 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. Royal Bank of Canada upped their target price on Reinsurance Group of America from $170.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Finally, JPMorgan Chase & Co. upped their target price on 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. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Reinsurance Group of America presently has an average rating of “Moderate Buy” and an average price target of $184.00.

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.