Bank of New York Mellon Corp Sells 65,105 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Bank of New York Mellon Corp reduced its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 8.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 669,555 shares of the insurance provider’s stock after selling 65,105 shares during the quarter. Bank of New York Mellon Corp’s holdings in Reinsurance Group of America were worth $143,037,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Handelsbanken Fonder AB grew its stake in shares of Reinsurance Group of America by 121.1% during the 4th quarter. Handelsbanken Fonder AB now owns 97,300 shares of the insurance provider’s stock valued at $20,786,000 after purchasing an additional 53,300 shares during the period. LMG Wealth Partners LLC grew its stake in shares of Reinsurance Group of America by 12.3% during the 4th quarter. LMG Wealth Partners LLC now owns 7,278 shares of the insurance provider’s stock valued at $1,555,000 after purchasing an additional 799 shares during the period. Ieq Capital LLC grew its stake in shares of Reinsurance Group of America by 291.9% during the 4th quarter. Ieq Capital LLC now owns 4,178 shares of the insurance provider’s stock valued at $892,000 after purchasing an additional 3,112 shares during the period. Freedom Day Solutions LLC bought a new stake in shares of Reinsurance Group of America during the 4th quarter valued at about $1,916,000. Finally, Global Retirement Partners LLC grew its stake in shares of Reinsurance Group of America by 69.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,312 shares of the insurance provider’s stock valued at $280,000 after purchasing an additional 539 shares during the period. 95.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RGA. Wells Fargo & Company boosted their price target on Reinsurance Group of America from $263.00 to $264.00 and gave the company an “overweight” rating in a research note on Tuesday. Piper Sandler cut their price objective on Reinsurance Group of America from $252.00 to $242.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $245.00 price objective on shares of Reinsurance Group of America in a research note on Monday, February 10th. Morgan Stanley cut their price objective on Reinsurance Group of America from $245.00 to $233.00 and set an “equal weight” rating for the company in a research note on Friday, February 14th. Finally, Barclays cut their price objective on Reinsurance Group of America from $255.00 to $252.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $229.62.

Reinsurance Group of America Trading Up 1.1 %

RGA stock opened at $202.78 on Friday. Reinsurance Group of America, Incorporated has a 1-year low of $174.45 and a 1-year high of $233.81. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.15 and a quick ratio of 0.17. The company has a market capitalization of $13.39 billion, a price-to-earnings ratio of 18.88 and a beta of 0.93. The business has a 50 day simple moving average of $214.26 and a two-hundred day simple moving average of $216.12.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Thursday, February 6th. The insurance provider reported $4.99 earnings per share for the quarter, missing the consensus estimate of $5.22 by ($0.23). Reinsurance Group of America had a return on equity of 14.55% and a net margin of 3.24%. Research analysts anticipate that Reinsurance Group of America, Incorporated will post 22.9 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.89 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $3.56 annualized dividend and a dividend yield of 1.76%. Reinsurance Group of America’s dividend payout ratio (DPR) is 33.15%.

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.