California Public Employees Retirement System Decreases Holdings in Reinsurance Group of America, Incorporated $RGA

California Public Employees Retirement System decreased its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 9.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (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 owned 0.24% of Reinsurance Group of America worth $32,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Buying and Selling

In related news, 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 owned 20,949 shares of the company’s stock, valued at $4,502,987.55. This trade represents a 1.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ronald Herrmann sold 7,000 shares of Reinsurance Group of America stock in a transaction 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 of the company’s stock, valued at $829,264.04. The trade was a 64.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.60% of the company’s stock.

Reinsurance Group of America Stock Down 0.8%

Shares of NYSE:RGA opened at $238.97 on Wednesday. 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 company has a market cap of $15.65 billion, a PE ratio of 12.95 and a beta of 0.47. The stock’s 50-day moving average is $215.17 and its 200 day moving average is $210.18. Reinsurance Group of America, Incorporated has a 1 year low of $165.52 and a 1 year high of $245.00.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings data on Thursday, May 7th. The insurance provider reported $6.97 EPS for the quarter, topping the consensus estimate of $6.03 by $0.94. Reinsurance Group of America had a net margin of 4.92% and a return on equity of 13.16%. The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.47 billion. During the same period last year, the business posted $5.66 earnings per share. Reinsurance Group of America’s quarterly revenue was up 23.5% compared to the same quarter last year. 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 announced a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 19th were issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Tuesday, May 19th. Reinsurance Group of America’s dividend payout ratio (DPR) is presently 20.15%.

Analyst Upgrades and Downgrades

RGA has been the subject of several recent research reports. UBS Group boosted their price target on shares of Reinsurance Group of America from $220.00 to $236.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Wells Fargo & Company raised their price objective on 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. Evercore reiterated an “outperform” rating and issued a $267.00 price objective on shares of Reinsurance Group of America in a report on Monday, May 18th. Piper Sandler lowered their target price on 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. Finally, Wall Street Zen upgraded Reinsurance Group of America from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Reinsurance Group of America currently has an average rating of “Moderate Buy” and an average price target of $257.50.

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.