Gunderson Capital Management Inc. Cuts Stock Holdings in Reinsurance Group of America, Incorporated (NYSE:RGA)

Gunderson Capital Management Inc. cut its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 2.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,706 shares of the insurance provider’s stock after selling 425 shares during the period. Reinsurance Group of America comprises about 1.5% of Gunderson Capital Management Inc.’s holdings, making the stock its 22nd largest holding. Gunderson Capital Management Inc.’s holdings in Reinsurance Group of America were worth $3,640,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Pineridge Advisors LLC acquired a new stake in Reinsurance Group of America in the fourth quarter valued at $26,000. New Covenant Trust Company N.A. purchased a new stake in Reinsurance Group of America during the first quarter worth approximately $28,000. International Assets Investment Management LLC acquired a new position in Reinsurance Group of America in the second quarter valued at approximately $28,000. Rise Advisors LLC purchased a new position in Reinsurance Group of America in the first quarter valued at approximately $29,000. Finally, Family Firm Inc. acquired a new stake in Reinsurance Group of America during the second quarter worth approximately $29,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

Insider Transactions at Reinsurance Group of America

In related news, EVP William L. Hutton sold 1,209 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $218.97, for a total value of $264,734.73. Following the sale, the executive vice president now directly owns 12,357 shares in the company, valued at $2,705,812.29. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.37% of the company’s stock.

Reinsurance Group of America Stock Up 0.9 %

NYSE:RGA traded up $1.92 on Wednesday, reaching $215.55. The stock had a trading volume of 31,224 shares, compared to its average volume of 356,986. The company has a 50-day moving average of $212.77 and a 200 day moving average of $206.26. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.52. The stock has a market cap of $14.18 billion, a P/E ratio of 16.60 and a beta of 0.91. Reinsurance Group of America, Incorporated has a 12-month low of $143.96 and a 12-month high of $227.87.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.94 by $0.54. The business had revenue of $4.88 billion during the quarter, compared to analyst estimates of $5.07 billion. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 15.84%. The business’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.40 earnings per share. On average, research analysts predict that Reinsurance Group of America, Incorporated will post 21.7 earnings per share for the current year.

Reinsurance Group of America Increases Dividend

The company 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. This is a boost from Reinsurance Group of America’s previous quarterly dividend of $0.85. The ex-dividend date was Friday, August 9th. This represents a $3.56 annualized dividend and a yield of 1.65%. Reinsurance Group of America’s payout ratio is presently 27.66%.

Wall Street Analyst Weigh In

RGA has been the topic of a number of analyst reports. Morgan Stanley lowered their price objective on Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Barclays decreased their price objective on shares of Reinsurance Group of America from $255.00 to $250.00 and set an “overweight” rating on the stock in a report on Tuesday. Jefferies Financial Group increased their target price on shares of Reinsurance Group of America from $63.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Piper Sandler boosted their price target on Reinsurance Group of America from $237.00 to $242.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Raymond James raised their price objective on Reinsurance Group of America from $228.00 to $250.00 and gave the company a “strong-buy” rating in a research note on Tuesday, September 24th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Reinsurance Group of America presently has a consensus rating of “Moderate Buy” and a consensus target price of $226.23.

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.