Reinsurance Group of America, Incorporated (NYSE:RGA) Shares Sold by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. cut its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 4.1% in the third quarter, Holdings Channel.com reports. The fund owned 1,316,692 shares of the insurance provider’s stock after selling 56,558 shares during the period. Reinsurance Group of America makes up approximately 0.8% of Rockefeller Capital Management L.P.’s investment portfolio, making the stock its 17th biggest position. Rockefeller Capital Management L.P.’s holdings in Reinsurance Group of America were worth $286,868,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in RGA. Armstrong Advisory Group Inc. purchased a new stake in Reinsurance Group of America in the third quarter valued at approximately $25,000. International Assets Investment Management LLC purchased a new stake in shares of Reinsurance Group of America in the 2nd quarter valued at $28,000. Family Firm Inc. acquired a new position in Reinsurance Group of America during the 2nd quarter worth about $29,000. Private Trust Co. NA boosted its holdings in Reinsurance Group of America by 333.3% during the 3rd quarter. Private Trust Co. NA now owns 156 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 120 shares during the period. Finally, Wolff Wiese Magana LLC acquired a new position in Reinsurance Group of America in the 3rd quarter valued at about $34,000. 95.11% of the stock is owned by hedge funds and other institutional investors.

Reinsurance Group of America Stock Down 0.9 %

Reinsurance Group of America stock opened at $229.46 on Friday. The stock’s fifty day moving average is $220.07 and its two-hundred day moving average is $213.53. The stock has a market cap of $15.11 billion, a PE ratio of 21.07 and a beta of 0.92. Reinsurance Group of America, Incorporated has a 1-year low of $157.48 and a 1-year high of $233.81. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.17 and a quick ratio of 0.17.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Thursday, October 31st. The insurance provider reported $6.13 earnings per share for the quarter, topping the consensus estimate of $5.31 by $0.82. The business had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.29 billion. Reinsurance Group of America had a return on equity of 15.01% and a net margin of 3.32%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company earned $5.57 EPS. On average, sell-side analysts expect that Reinsurance Group of America, Incorporated will post 21.93 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Stockholders of record on Tuesday, November 12th were issued a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Friday, November 8th. Reinsurance Group of America’s payout ratio is 32.69%.

Insider Activity at Reinsurance Group of America

In related news, EVP William L. Hutton sold 1,209 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was 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 $2,705,812.29. This represents a 8.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.37% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on RGA. Raymond James increased 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, September 24th. Morgan Stanley reduced their target price on shares of 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. Piper Sandler raised their price target on shares of Reinsurance Group of America from $237.00 to $242.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company upped their price objective on Reinsurance Group of America from $239.00 to $244.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, Barclays increased their price objective on Reinsurance Group of America from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $227.77.

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.