American International Group Inc. Sells 4,260 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

American International Group Inc. trimmed its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 4.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 89,029 shares of the insurance provider’s stock after selling 4,260 shares during the period. American International Group Inc.’s holdings in Reinsurance Group of America were worth $14,403,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in Reinsurance Group of America in the fourth quarter valued at approximately $122,301,000. Junto Capital Management LP bought a new stake in shares of Reinsurance Group of America during the 4th quarter worth $92,083,000. Balyasny Asset Management L.P. acquired a new stake in Reinsurance Group of America in the fourth quarter valued at about $67,177,000. Adage Capital Partners GP L.L.C. grew its position in Reinsurance Group of America by 966.7% in the third quarter. Adage Capital Partners GP L.L.C. now owns 320,000 shares of the insurance provider’s stock valued at $46,461,000 after acquiring an additional 290,000 shares during the last quarter. Finally, Corient Private Wealth LLC raised its stake in Reinsurance Group of America by 1,965.4% during the fourth quarter. Corient Private Wealth LLC now owns 298,352 shares of the insurance provider’s stock worth $48,267,000 after acquiring an additional 283,907 shares in the last quarter. 95.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RGA. Piper Sandler raised their price target on shares of Reinsurance Group of America from $195.00 to $220.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Keefe, Bruyette & Woods boosted their target price on shares of Reinsurance Group of America from $220.00 to $235.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $225.00 price target on shares of Reinsurance Group of America in a report on Friday. UBS Group raised 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, Wells Fargo & Company upped their target price on Reinsurance Group of America from $210.00 to $227.00 and gave the stock an “overweight” rating in a report on Friday, May 10th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $206.00.

Reinsurance Group of America Trading Up 0.3 %

RGA stock traded up $0.51 during trading on Friday, hitting $202.01. The company had a trading volume of 364,948 shares, compared to its average volume of 293,573. The stock has a market cap of $13.29 billion, a PE ratio of 15.70 and a beta of 0.92. The business has a 50-day moving average of $199.41 and a 200-day moving average of $181.92. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.46. Reinsurance Group of America, Incorporated has a one year low of $135.07 and a one year high of $213.21.

Reinsurance Group of America (NYSE:RGA) last posted its quarterly earnings data on Friday, May 3rd. The insurance provider reported $6.02 earnings per share for the quarter, topping the consensus estimate of $4.55 by $1.47. Reinsurance Group of America had a net margin of 4.16% and a return on equity of 15.94%. The company had revenue of $6.34 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same period in the prior year, the company posted $5.16 earnings per share. Research analysts predict that Reinsurance Group of America, Incorporated will post 20.66 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th were issued a $0.85 dividend. The ex-dividend date was Monday, May 13th. This represents a $3.40 dividend on an annualized basis and a yield of 1.68%. Reinsurance Group of America’s payout ratio is currently 26.42%.

Insider Buying and Selling at Reinsurance Group of America

In other news, EVP John W. Hayden sold 1,767 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $206.85, for a total transaction of $365,503.95. Following the completion of the sale, the executive vice president now owns 16,490 shares of the company’s stock, valued at approximately $3,410,956.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.37% of the company’s stock.

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.