Retirement Systems of Alabama Has $24.11 Million Stock Position in Reinsurance Group of America, Incorporated (NYSE:RGA)

Retirement Systems of Alabama trimmed its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 0.1% in the fourth quarter, HoldingsChannel reports. The firm owned 149,043 shares of the insurance provider’s stock after selling 131 shares during the quarter. Retirement Systems of Alabama’s holdings in Reinsurance Group of America were worth $24,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Adage Capital Partners GP L.L.C. grew its position in shares of Reinsurance Group of America by 966.7% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 320,000 shares of the insurance provider’s stock worth $46,461,000 after purchasing an additional 290,000 shares in the last quarter. AQR Capital Management LLC grew its holdings in Reinsurance Group of America by 33.5% during the 3rd quarter. AQR Capital Management LLC now owns 709,359 shares of the insurance provider’s stock worth $102,992,000 after acquiring an additional 177,812 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Reinsurance Group of America by 7.3% in the third quarter. American Century Companies Inc. now owns 2,605,471 shares of the insurance provider’s stock worth $378,288,000 after purchasing an additional 177,299 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Reinsurance Group of America by 63.6% in the third quarter. Envestnet Asset Management Inc. now owns 347,114 shares of the insurance provider’s stock valued at $50,397,000 after buying an additional 134,997 shares during the period. Finally, Vanguard Group Inc. increased its position in Reinsurance Group of America by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 7,350,810 shares of the insurance provider’s stock valued at $1,067,264,000 after purchasing an additional 110,877 shares during the period. Institutional investors and hedge funds own 95.11% of the company’s stock.

Insider Buying and Selling

In other Reinsurance Group of America news, CFO Todd C. Larson sold 2,966 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $182.88, for a total transaction of $542,422.08. Following the transaction, the chief financial officer now directly owns 49,549 shares of the company’s stock, valued at approximately $9,061,521.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Reinsurance Group of America news, EVP William L. Hutton sold 1,908 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $181.84, for a total value of $346,950.72. Following the sale, the executive vice president now directly owns 13,363 shares of the company’s stock, valued at $2,429,927.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Todd C. Larson sold 2,966 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $182.88, for a total transaction of $542,422.08. Following the completion of the transaction, the chief financial officer now owns 49,549 shares in the company, valued at approximately $9,061,521.12. The disclosure for this sale can be found here. Insiders have sold 6,462 shares of company stock valued at $1,162,239 over the last ninety days. 1.37% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on RGA shares. Wells Fargo & Company lifted their price objective on Reinsurance Group of America from $193.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Morgan Stanley raised their price objective on Reinsurance Group of America from $178.00 to $185.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. UBS Group lifted their price target on Reinsurance Group of America from $198.00 to $223.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Piper Sandler raised their price target on shares of Reinsurance Group of America from $195.00 to $220.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $212.00 price objective on shares of Reinsurance Group of America in a research note on Friday, April 12th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $194.38.

Reinsurance Group of America Price Performance

Shares of NYSE:RGA opened at $189.54 on Tuesday. The company’s fifty day moving average price is $184.88 and its 200-day moving average price is $169.89. Reinsurance Group of America, Incorporated has a one year low of $133.13 and a one year high of $196.25. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.17 and a quick ratio of 0.17. The firm has a market capitalization of $12.47 billion, a price-to-earnings ratio of 14.11 and a beta of 0.89.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings results on Friday, February 2nd. The insurance provider reported $4.73 EPS for the quarter, topping the consensus estimate of $4.40 by $0.33. The firm had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.57 billion. Reinsurance Group of America had a net margin of 4.86% and a return on equity of 16.20%. The business’s revenue was up 14.9% compared to the same quarter last year. During the same period last year, the firm posted $2.99 earnings per share. On average, equities research analysts anticipate that Reinsurance Group of America, Incorporated will post 19.41 earnings per share for the current fiscal year.

Reinsurance Group of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Tuesday, February 13th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Monday, February 12th. This represents a $3.40 annualized dividend and a yield of 1.79%. Reinsurance Group of America’s payout ratio is currently 25.32%.

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.