Resonant Capital Advisors LLC Trims Stock Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Resonant Capital Advisors LLC lowered its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 13.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 4,146 shares of the insurance provider’s stock after selling 657 shares during the period. Resonant Capital Advisors LLC’s holdings in Reinsurance Group of America were worth $671,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Louisiana State Employees Retirement System purchased a new position in shares of Reinsurance Group of America during the 4th quarter valued at about $2,993,000. Picton Mahoney Asset Management increased its stake in shares of Reinsurance Group of America by 121.9% in the 3rd quarter. Picton Mahoney Asset Management now owns 122,552 shares of the insurance provider’s stock valued at $17,794,000 after purchasing an additional 67,318 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Reinsurance Group of America by 16,078.1% in the 4th quarter. International Assets Investment Management LLC now owns 22,164 shares of the insurance provider’s stock valued at $3,586,000 after purchasing an additional 22,027 shares in the last quarter. Raymond James & Associates increased its stake in shares of Reinsurance Group of America by 13.0% in the 4th quarter. Raymond James & Associates now owns 244,771 shares of the insurance provider’s stock valued at $39,599,000 after purchasing an additional 28,193 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its stake in shares of Reinsurance Group of America by 93.8% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 22,655 shares of the insurance provider’s stock valued at $3,289,000 after purchasing an additional 10,968 shares in the last quarter. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Stock Up 2.2 %

Shares of NYSE RGA opened at $186.52 on Friday. The firm has a market cap of $12.27 billion, a price-to-earnings ratio of 13.89 and a beta of 0.89. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.48. Reinsurance Group of America, Incorporated has a 52-week low of $133.13 and a 52-week high of $196.25. The business’s 50 day moving average is $182.34 and its two-hundred day moving average is $167.64.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Friday, February 2nd. The insurance provider reported $4.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.40 by $0.33. Reinsurance Group of America had a return on equity of 16.20% and a net margin of 4.86%. The company had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the previous year, the company earned $2.99 earnings per share. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. Research analysts predict that Reinsurance Group of America, Incorporated will post 19.41 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 13th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date was Monday, February 12th. Reinsurance Group of America’s dividend payout ratio is currently 25.32%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RGA. Royal Bank of Canada restated an “outperform” rating and issued a $212.00 price target on shares of Reinsurance Group of America in a research note on Friday, April 12th. Piper Sandler lifted their price objective on Reinsurance Group of America from $195.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Wells Fargo & Company lifted their price objective on Reinsurance Group of America from $193.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Keefe, Bruyette & Woods lifted their price objective on Reinsurance Group of America from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. lifted their price objective on Reinsurance Group of America from $170.00 to $189.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $194.38.

Insider Transactions at Reinsurance Group of America

In other news, CFO Todd C. Larson sold 2,966 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $182.88, for a total transaction of $542,422.08. Following the sale, the chief financial officer now owns 49,549 shares of the company’s stock, valued at $9,061,521.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP William L. Hutton sold 1,908 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $181.84, for a total transaction of $346,950.72. Following the completion of the transaction, the executive vice president now owns 13,363 shares in the company, valued at $2,429,927.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Todd C. Larson sold 2,966 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $182.88, for a total transaction of $542,422.08. Following the transaction, the chief financial officer now owns 49,549 shares of the company’s stock, valued at approximately $9,061,521.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,462 shares of company stock valued at $1,162,239. 1.31% of the stock is currently owned by company insiders.

About Reinsurance Group of America

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.