Reinsurance Group of America, Incorporated $RGA Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 0.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 417,970 shares of the insurance provider’s stock after buying an additional 2,493 shares during the quarter. Bank of New York Mellon Corp owned about 0.64% of Reinsurance Group of America worth $85,333,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RGA. Principal Securities Inc. raised its holdings in shares of Reinsurance Group of America by 3.6% in the 4th quarter. Principal Securities Inc. now owns 1,490 shares of the insurance provider’s stock worth $303,000 after purchasing an additional 52 shares during the period. Rehmann Capital Advisory Group grew its holdings in shares of Reinsurance Group of America by 1.3% during the 3rd quarter. Rehmann Capital Advisory Group now owns 4,281 shares of the insurance provider’s stock worth $819,000 after purchasing an additional 54 shares during the period. CIBC Private Wealth Group LLC grew its holdings in shares of Reinsurance Group of America by 6.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 974 shares of the insurance provider’s stock worth $198,000 after purchasing an additional 56 shares during the period. Covestor Ltd increased its position in Reinsurance Group of America by 12.2% during the 4th quarter. Covestor Ltd now owns 533 shares of the insurance provider’s stock worth $108,000 after purchasing an additional 58 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its position in Reinsurance Group of America by 17.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 388 shares of the insurance provider’s stock worth $76,000 after purchasing an additional 58 shares in the last quarter. Institutional investors and hedge funds own 95.11% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Reinsurance Group of America in a research note on Wednesday, May 13th. Wells Fargo & Company raised their target price on shares of Reinsurance Group of America from $261.00 to $269.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Piper Sandler reduced their target price on shares of Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Barclays upped their price target on shares of Reinsurance Group of America from $268.00 to $278.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Finally, UBS Group increased their price target on Reinsurance Group of America from $220.00 to $236.00 and gave the company a “neutral” rating in a report on Wednesday, July 8th. Seven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $257.50.

Reinsurance Group of America Stock Down 0.8%

Shares of NYSE:RGA opened at $238.97 on Wednesday. The company has a market capitalization of $15.65 billion, a price-to-earnings ratio of 12.95 and a beta of 0.47. The company has a 50 day moving average of $215.17 and a two-hundred day moving average of $210.18. Reinsurance Group of America, Incorporated has a 52-week low of $165.52 and a 52-week high of $245.00. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.46.

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

Reinsurance Group of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 19th were issued a $0.93 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $3.72 dividend on an annualized basis and a yield of 1.6%. Reinsurance Group of America’s payout ratio is currently 20.15%.

Insider Activity

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

Reinsurance Group of America Company 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.