Reinsurance Group of America, Incorporated (NYSE:RGA) Shares Sold by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC reduced its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 5.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,678 shares of the insurance provider’s stock after selling 232 shares during the period. Beverly Hills Private Wealth LLC’s holdings in Reinsurance Group of America were worth $755,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

RGA has been the subject of a number of research analyst reports. Raymond James lifted their price target on shares of Reinsurance Group of America from $212.00 to $228.00 and gave the stock a “strong-buy” rating in a research note on Friday, June 14th. Piper Sandler boosted their target price 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. Royal Bank of Canada increased their price target on shares of Reinsurance Group of America from $225.00 to $235.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. UBS Group boosted their price objective on Reinsurance Group of America from $223.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Finally, Morgan Stanley cut 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 research note on Monday, August 19th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Reinsurance Group of America has an average rating of “Moderate Buy” and an average price target of $223.33.

Reinsurance Group of America Trading Up 0.6 %

Shares of NYSE RGA opened at $211.93 on Friday. Reinsurance Group of America, Incorporated has a 12-month low of $140.39 and a 12-month high of $227.87. The company has a market cap of $13.96 billion, a price-to-earnings ratio of 16.47 and a beta of 0.91. 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’s 50 day simple moving average is $211.88 and its 200 day simple moving average is $201.48.

Reinsurance Group of America (NYSE:RGA) last announced its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $5.07 billion. During the same quarter in the previous year, the company posted $4.40 earnings per share. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. Equities research analysts expect that Reinsurance Group of America, Incorporated will post 21.5 EPS 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. Shareholders of record on Tuesday, August 13th were given a $0.89 dividend. 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 1.68%. Reinsurance Group of America’s dividend payout ratio is 27.66%.

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.