Leuthold Group LLC Cuts Stake in Reinsurance Group of America, Incorporated (NYSE:RGA)

Leuthold Group LLC lessened its holdings in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,047 shares of the insurance provider’s stock after selling 1,179 shares during the period. Reinsurance Group of America makes up about 1.0% of Leuthold Group LLC’s portfolio, making the stock its 25th biggest holding. Leuthold Group LLC’s holdings in Reinsurance Group of America were worth $9,379,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in RGA. GAMMA Investing LLC raised its stake in Reinsurance Group of America by 8.9% in the third quarter. GAMMA Investing LLC now owns 609 shares of the insurance provider’s stock valued at $133,000 after buying an additional 50 shares during the last quarter. Resonant Capital Advisors LLC increased its holdings in shares of Reinsurance Group of America by 1.2% during the third quarter. Resonant Capital Advisors LLC now owns 4,368 shares of the insurance provider’s stock valued at $952,000 after acquiring an additional 53 shares in the last quarter. GHP Investment Advisors Inc. raised its position in shares of Reinsurance Group of America by 0.7% in the 2nd quarter. GHP Investment Advisors Inc. now owns 9,462 shares of the insurance provider’s stock valued at $1,942,000 after purchasing an additional 62 shares during the last quarter. Covestor Ltd boosted its stake in Reinsurance Group of America by 20.3% in the 1st quarter. Covestor Ltd now owns 374 shares of the insurance provider’s stock worth $72,000 after purchasing an additional 63 shares in the last quarter. Finally, Tectonic Advisors LLC grew its position in Reinsurance Group of America by 3.0% during the 3rd quarter. Tectonic Advisors LLC now owns 2,358 shares of the insurance provider’s stock worth $514,000 after purchasing an additional 69 shares during the last quarter. Institutional investors and hedge funds own 95.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on RGA shares. TD Cowen started coverage on shares of Reinsurance Group of America in a report on Wednesday, October 9th. They issued a “hold” rating and a $235.00 price target for the company. Piper Sandler raised their target price 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. Wells Fargo & Company boosted their price target on Reinsurance Group of America from $239.00 to $244.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. StockNews.com raised Reinsurance Group of America from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Finally, Morgan Stanley dropped their target price on Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $226.62.

Reinsurance Group of America Price Performance

NYSE:RGA opened at $213.99 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.17 and a quick ratio of 0.17. The company has a 50 day moving average price of $215.33 and a 200-day moving average price of $208.34. Reinsurance Group of America, Incorporated has a 1-year low of $145.96 and a 1-year high of $227.87. The firm has a market cap of $14.08 billion, a price-to-earnings ratio of 16.35 and a beta of 0.91.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Thursday, August 1st. The insurance provider reported $5.48 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $5.07 billion. During the same quarter in the previous year, the company earned $4.40 earnings per share. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. Equities research analysts forecast that Reinsurance Group of America, Incorporated will post 21.8 EPS for the current year.

Reinsurance Group of America Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were given a dividend of $0.89 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.56 dividend on an annualized basis and a yield of 1.66%. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.85. Reinsurance Group of America’s dividend payout ratio is currently 27.66%.

Insider Buying and Selling at Reinsurance Group of America

In other news, EVP William L. Hutton sold 1,209 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total transaction of $264,734.73. Following the completion of the transaction, the executive vice president now directly owns 12,357 shares of the company’s stock, valued at $2,705,812.29. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 1.37% of the stock is owned by corporate insiders.

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.