Algert Global LLC Sells 4,570 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Algert Global LLC lowered its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 53.6% during the 3rd quarter, Holdings Channel reports. The firm owned 3,962 shares of the insurance provider’s stock after selling 4,570 shares during the quarter. Algert Global LLC’s holdings in Reinsurance Group of America were worth $863,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in shares of Reinsurance Group of America by 22.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 143,178 shares of the insurance provider’s stock worth $27,617,000 after buying an additional 26,306 shares in the last quarter. Eagle Asset Management Inc. grew its holdings in Reinsurance Group of America by 15.7% during the 3rd quarter. Eagle Asset Management Inc. now owns 112,901 shares of the insurance provider’s stock worth $25,297,000 after acquiring an additional 15,289 shares in the last quarter. M&G Plc increased its position in Reinsurance Group of America by 5.0% during the 2nd quarter. M&G Plc now owns 85,153 shares of the insurance provider’s stock valued at $17,456,000 after purchasing an additional 4,025 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Reinsurance Group of America in the 2nd quarter valued at about $1,925,000. Finally, Insight Wealth Strategies LLC purchased a new stake in shares of Reinsurance Group of America in the 3rd quarter worth approximately $3,548,000. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $218.97, for a total transaction of $264,734.73. Following the sale, the executive vice president now directly owns 12,357 shares of the company’s stock, valued at approximately $2,705,812.29. This trade represents a 8.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.37% of the stock is owned by corporate insiders.

Reinsurance Group of America Trading Down 0.4 %

NYSE RGA opened at $228.45 on Friday. Reinsurance Group of America, Incorporated has a 12-month low of $157.48 and a 12-month high of $233.81. The company has a fifty day simple moving average of $220.25 and a two-hundred day simple moving average of $213.68. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.45. The stock has a market cap of $15.05 billion, a P/E ratio of 20.98 and a beta of 0.92.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.31 by $0.82. The company had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.29 billion. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the business posted $5.57 EPS. On average, analysts forecast that Reinsurance Group of America, Incorporated will post 21.93 earnings per share for the current year.

Reinsurance Group of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were given a $0.89 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.56 dividend on an annualized basis and a yield of 1.56%. Reinsurance Group of America’s dividend payout ratio is currently 32.69%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on RGA shares. Royal Bank of Canada boosted their price objective on shares of Reinsurance Group of America from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Raymond James upped their price objective on Reinsurance Group of America from $228.00 to $250.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, September 24th. Keefe, Bruyette & Woods upgraded Reinsurance Group of America from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, October 3rd. TD Cowen assumed coverage on shares of Reinsurance Group of America in a report on Wednesday, October 9th. They issued a “hold” rating and a $235.00 target price for the company. Finally, Piper Sandler raised their price target on shares of Reinsurance Group of America from $237.00 to $242.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $227.77.

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.