PNC Financial Services Group Inc. Decreases Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

PNC Financial Services Group Inc. lowered its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 5.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,290 shares of the insurance provider’s stock after selling 863 shares during the period. PNC Financial Services Group Inc.’s holdings in Reinsurance Group of America were worth $2,474,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lindbrook Capital LLC raised its holdings in shares of Reinsurance Group of America by 129.9% in the fourth quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock worth $25,000 after buying an additional 87 shares during the last quarter. Pineridge Advisors LLC purchased a new position in shares of Reinsurance Group of America in the fourth quarter worth $26,000. VisionPoint Advisory Group LLC raised its holdings in shares of Reinsurance Group of America by 116.3% in the third quarter. VisionPoint Advisory Group LLC now owns 212 shares of the insurance provider’s stock worth $31,000 after buying an additional 114 shares during the last quarter. Toth Financial Advisory Corp raised its holdings in shares of Reinsurance Group of America by 41.2% in the fourth quarter. Toth Financial Advisory Corp now owns 240 shares of the insurance provider’s stock worth $39,000 after buying an additional 70 shares during the last quarter. Finally, Covestor Ltd raised its holdings in shares of Reinsurance Group of America by 532.8% in the third quarter. Covestor Ltd now owns 424 shares of the insurance provider’s stock worth $62,000 after buying an additional 357 shares during the last quarter. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Insider Activity

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

Analysts Set New Price Targets

RGA has been the subject of a number of research analyst reports. Evercore ISI raised their price target on shares of Reinsurance Group of America from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Raymond James raised their target price on shares of Reinsurance Group of America from $212.00 to $228.00 and gave the stock a “strong-buy” rating in a report on Friday, June 14th. Piper Sandler raised their target price on shares of Reinsurance Group of America from $195.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. JPMorgan Chase & Co. raised their target price on shares of Reinsurance Group of America from $189.00 to $195.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Finally, UBS Group raised their target price on shares of Reinsurance Group of America from $223.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Reinsurance Group of America has an average rating of “Moderate Buy” and a consensus target price of $211.00.

Reinsurance Group of America Stock Up 0.6 %

RGA stock opened at $207.63 on Friday. The firm has a market cap of $13.66 billion, a PE ratio of 16.13 and a beta of 0.92. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.19 and a current ratio of 0.19. The firm’s fifty day moving average is $200.72 and its 200 day moving average is $183.00. Reinsurance Group of America, Incorporated has a one year low of $135.07 and a one year high of $213.21.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings results on Friday, May 3rd. The insurance provider reported $6.02 EPS for the quarter, beating the consensus estimate of $4.55 by $1.47. Reinsurance Group of America had a net margin of 4.16% and a return on equity of 15.94%. The company had revenue of $6.34 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same quarter last year, the business earned $5.16 earnings per share. On average, research analysts forecast that Reinsurance Group of America, Incorporated will post 20.94 EPS for the current year.

Reinsurance Group of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th were given a $0.85 dividend. The ex-dividend date of this dividend was Monday, May 13th. This represents a $3.40 annualized dividend and a dividend yield of 1.64%. Reinsurance Group of America’s dividend payout ratio (DPR) is 26.42%.

Reinsurance Group of America Company 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.