Amalgamated Bank Sells 2,996 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Amalgamated Bank cut its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 6.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 41,218 shares of the insurance provider’s stock after selling 2,996 shares during the quarter. Amalgamated Bank owned about 0.06% of Reinsurance Group of America worth $8,461,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norges Bank purchased a new position in Reinsurance Group of America during the 4th quarter valued at about $122,301,000. Junto Capital Management LP purchased a new position in Reinsurance Group of America during the fourth quarter valued at approximately $92,083,000. Balyasny Asset Management L.P. bought a new stake in Reinsurance Group of America during the 4th quarter worth approximately $67,177,000. Corient Private Wealth LLC lifted its stake in Reinsurance Group of America by 1,965.4% in the 4th quarter. Corient Private Wealth LLC now owns 298,352 shares of the insurance provider’s stock worth $48,267,000 after purchasing an additional 283,907 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its stake in Reinsurance Group of America by 713.2% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 291,125 shares of the insurance provider’s stock worth $47,098,000 after purchasing an additional 255,326 shares in the last quarter. 95.11% of the stock is currently owned by institutional investors.

Reinsurance Group of America Stock Up 0.7 %

Shares of NYSE RGA opened at $218.58 on Thursday. Reinsurance Group of America, Incorporated has a one year low of $140.39 and a one year high of $227.87. The stock has a market capitalization of $14.40 billion, a P/E ratio of 16.98 and a beta of 0.91. The firm’s 50 day simple moving average is $212.68 and its two-hundred day simple moving average is $202.82. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.17 and a quick ratio of 0.17.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share for the quarter, topping the consensus estimate of $4.94 by $0.54. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The business had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $5.07 billion. During the same period in the previous year, the firm posted $4.40 earnings per share. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. As a group, analysts expect that Reinsurance Group of America, Incorporated will post 21.5 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were issued a dividend of $0.89 per share. The ex-dividend date of this dividend was Friday, August 9th. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 1.63%. Reinsurance Group of America’s dividend payout ratio is currently 27.66%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on RGA shares. Barclays assumed coverage on shares of Reinsurance Group of America in a research report on Wednesday, September 4th. They set an “overweight” rating and a $255.00 price target for the company. Jefferies Financial Group upped their target price on Reinsurance Group of America from $63.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Raymond James lifted their price target on Reinsurance Group of America from $212.00 to $228.00 and gave the company a “strong-buy” rating in a research report on Friday, June 14th. Evercore ISI boosted their price objective on Reinsurance Group of America from $225.00 to $241.00 and gave the stock an “outperform” rating in a report on Wednesday, June 26th. Finally, StockNews.com lowered shares of Reinsurance Group of America from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $223.33.

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.