Reinsurance Group of America, Incorporated (NYSE:RGA) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lessened its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 15.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,894 shares of the insurance provider’s stock after selling 4,456 shares during the quarter. Hsbc Holdings PLC’s holdings in Reinsurance Group of America were worth $5,096,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Earnest Partners LLC boosted its stake in shares of Reinsurance Group of America by 4.2% in the first quarter. Earnest Partners LLC now owns 2,577,901 shares of the insurance provider’s stock valued at $497,226,000 after purchasing an additional 104,256 shares during the period. Sei Investments Co. grew its stake in shares of Reinsurance Group of America by 5.7% during the first quarter. Sei Investments Co. now owns 780,010 shares of the insurance provider’s stock valued at $150,448,000 after acquiring an additional 42,135 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Reinsurance Group of America by 2.8% during the first quarter. Jacobs Levy Equity Management Inc. now owns 584,137 shares of the insurance provider’s stock worth $112,668,000 after acquiring an additional 15,926 shares during the last quarter. Junto Capital Management LP acquired a new position in shares of Reinsurance Group of America in the fourth quarter worth about $92,083,000. Finally, Balyasny Asset Management L.P. purchased a new position in Reinsurance Group of America in the fourth quarter valued at about $67,177,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Trading Down 0.3 %

Shares of NYSE:RGA opened at $219.52 on Wednesday. The company’s 50-day moving average price is $213.19 and its 200 day moving average price is $204.06. Reinsurance Group of America, Incorporated has a fifty-two week low of $140.39 and a fifty-two week high of $227.87. The company has a market cap of $14.44 billion, a PE ratio of 17.06 and a beta of 0.91. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.52.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, beating the consensus estimate of $4.94 by $0.54. Reinsurance Group of America had a return on equity of 15.84% and a net margin of 4.01%. The firm had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same period last year, the firm earned $4.40 EPS. The firm’s revenue was up 17.4% compared to the same quarter last year. Sell-side analysts anticipate that Reinsurance Group of America, Incorporated will post 21.7 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were issued a $0.89 dividend. The ex-dividend date 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 dividend yield of 1.62%. Reinsurance Group of America’s dividend payout ratio (DPR) is 27.66%.

Insider Buying and Selling at Reinsurance Group of America

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Piper Sandler raised their price target 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, June 28th. UBS Group boosted 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 research report on Thursday, May 30th. Jefferies Financial Group increased their target price on Reinsurance Group of America from $63.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Royal Bank of Canada boosted their target price on shares of Reinsurance Group of America from $225.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Finally, Raymond James raised their price target on shares of Reinsurance Group of America from $228.00 to $250.00 and gave the stock a “strong-buy” rating in a research report on Tuesday. Three 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $225.17.

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.