Park Place Capital Corp Sells 306 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Park Place Capital Corp reduced its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 50.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 296 shares of the insurance provider’s stock after selling 306 shares during the quarter. Park Place Capital Corp’s holdings in Reinsurance Group of America were worth $57,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of RGA. Norges Bank bought a new stake in shares of Reinsurance Group of America during the 4th quarter valued at approximately $122,301,000. Junto Capital Management LP bought a new stake in shares of Reinsurance Group of America during the 4th quarter valued at approximately $92,083,000. Balyasny Asset Management L.P. bought a new stake in shares of Reinsurance Group of America during the 4th quarter valued at approximately $67,177,000. Adage Capital Partners GP L.L.C. grew its holdings in shares of Reinsurance Group of America by 966.7% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 320,000 shares of the insurance provider’s stock valued at $46,461,000 after purchasing an additional 290,000 shares during the last quarter. Finally, Corient Private Wealth LLC grew its holdings in shares of Reinsurance Group of America by 1,965.4% during the 4th quarter. Corient Private Wealth LLC now owns 298,352 shares of the insurance provider’s stock valued at $48,267,000 after purchasing an additional 283,907 shares during the last quarter. 95.11% of the stock is owned by institutional investors.

Insider Transactions at Reinsurance Group of America

In other news, EVP John W. Hayden sold 1,767 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $206.85, for a total value of $365,503.95. Following the completion of the sale, the executive vice president now owns 16,490 shares in the company, valued at approximately $3,410,956.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.37% of the company’s stock.

Reinsurance Group of America Stock Performance

Shares of RGA stock opened at $205.03 on Tuesday. The firm has a market capitalization of $13.49 billion, a PE ratio of 15.93 and a beta of 0.92. The firm has a fifty day simple moving average of $203.58 and a two-hundred day simple moving average of $185.03. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.46. Reinsurance Group of America, Incorporated has a 12 month low of $135.07 and a 12 month high of $213.21.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Friday, May 3rd. The insurance provider reported $6.02 EPS for the quarter, beating analysts’ consensus estimates of $4.55 by $1.47. The business had revenue of $6.34 billion during the quarter, compared to analyst estimates of $4.54 billion. Reinsurance Group of America had a net margin of 4.16% and a return on equity of 15.94%. During the same quarter in the previous year, the business posted $5.16 EPS. Analysts forecast that Reinsurance Group of America, Incorporated will post 20.94 EPS for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th were paid a $0.85 dividend. The ex-dividend date was Monday, May 13th. This represents a $3.40 annualized dividend and a dividend yield of 1.66%. Reinsurance Group of America’s payout ratio is 26.42%.

Analyst Ratings Changes

RGA has been the topic of several recent research reports. Piper Sandler lifted their target price on shares of Reinsurance Group of America from $228.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday. Jefferies Financial Group boosted their price target on shares of Reinsurance Group of America from $240.00 to $247.00 and gave the stock a “buy” rating in a research report on Friday. Evercore ISI boosted their price target on shares of Reinsurance Group of America from $225.00 to $241.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 26th. Wells Fargo & Company boosted their price target on shares of Reinsurance Group of America from $210.00 to $227.00 and gave the stock an “overweight” rating in a research report on Friday, May 10th. Finally, Morgan Stanley boosted their target price on shares of Reinsurance Group of America from $178.00 to $185.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Reinsurance Group of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $220.00.

Reinsurance Group of America 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.