Reinsurance Group of America, Incorporated (NYSE:RGA) Shares Sold by Bank of Montreal Can

Bank of Montreal Can decreased its holdings in Reinsurance Group of America, Incorporated (NYSE:RGA) by 3.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,437 shares of the insurance provider’s stock after selling 1,225 shares during the quarter. Bank of Montreal Can’s holdings in Reinsurance Group of America were worth $6,595,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Pineridge Advisors LLC acquired a new position in shares of Reinsurance Group of America during the 4th quarter worth approximately $26,000. New Covenant Trust Company N.A. purchased a new position in Reinsurance Group of America during the first quarter valued at $28,000. International Assets Investment Management LLC acquired a new stake in shares of Reinsurance Group of America in the second quarter valued at about $28,000. Rise Advisors LLC purchased a new stake in shares of Reinsurance Group of America during the first quarter worth about $29,000. Finally, Family Firm Inc. acquired a new position in shares of Reinsurance Group of America during the 2nd quarter worth about $29,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Insider Activity at Reinsurance Group of America

In other Reinsurance Group of America 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 completion of the sale, the executive vice president now directly owns 12,357 shares in the company, valued at $2,705,812.29. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.37% of the stock is owned by insiders.

Reinsurance Group of America Stock Performance

NYSE:RGA opened at $217.87 on Tuesday. The company’s 50-day moving average is $213.44 and its two-hundred day moving average is $205.00. The firm has a market capitalization of $14.33 billion, a price-to-earnings ratio of 16.93 and a beta of 0.91. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.17 and a quick ratio of 0.17. Reinsurance Group of America, Incorporated has a 1-year low of $140.39 and a 1-year high of $227.87.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 earnings per share for the quarter, topping the consensus estimate of $4.94 by $0.54. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. The company had revenue of $4.88 billion during the quarter, compared to analyst estimates of $5.07 billion. During the same period in the prior year, the business posted $4.40 earnings per share. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. Analysts forecast that Reinsurance Group of America, Incorporated will post 21.7 EPS for the current year.

Reinsurance Group of America Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.63%. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.85. The ex-dividend date was Friday, August 9th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 27.66%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on RGA shares. Piper Sandler boosted their price objective on Reinsurance Group of America from $228.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, June 28th. StockNews.com upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Friday. Morgan Stanley decreased their price objective on Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. JPMorgan Chase & Co. upped their target price on shares of Reinsurance Group of America from $208.00 to $220.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, Citigroup raised their price target on shares of Reinsurance Group of America from $194.00 to $252.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $225.17.

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.