Ontario Teachers Pension Plan Board Sells 4,543 Shares of Reinsurance Group of America, Incorporated (NYSE:RGA)

Ontario Teachers Pension Plan Board lowered its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 41.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,491 shares of the insurance provider’s stock after selling 4,543 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Reinsurance Group of America were worth $1,252,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Lindbrook Capital LLC grew its holdings in Reinsurance Group of America by 129.9% during the 4th quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 87 shares during the last quarter. Pineridge Advisors LLC bought a new position in shares of Reinsurance Group of America in the 4th quarter valued at about $26,000. Rise Advisors LLC bought a new position in shares of Reinsurance Group of America in the 1st quarter valued at about $29,000. Toth Financial Advisory Corp raised its position in shares of Reinsurance Group of America by 41.2% in the 4th quarter. Toth Financial Advisory Corp now owns 240 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 70 shares during the period. Finally, Janiczek Wealth Management LLC raised its position in shares of Reinsurance Group of America by 40.8% in the 1st quarter. Janiczek Wealth Management LLC now owns 383 shares of the insurance provider’s stock valued at $74,000 after acquiring an additional 111 shares during the period. Institutional investors own 95.11% of the company’s stock.

Reinsurance Group of America Stock Performance

RGA stock traded up $6.29 during midday trading on Tuesday, reaching $221.34. 89,893 shares of the company were exchanged, compared to its average volume of 353,414. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.19 and a quick ratio of 0.19. The business has a 50-day moving average price of $207.91 and a two-hundred day moving average price of $190.43. Reinsurance Group of America, Incorporated has a one year low of $135.07 and a one year high of $222.94. The firm has a market capitalization of $14.56 billion, a price-to-earnings ratio of 16.71 and a beta of 0.92.

Reinsurance Group of America (NYSE:RGA) last announced its earnings results on Friday, May 3rd. The insurance provider reported $6.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.55 by $1.47. The company had revenue of $6.34 billion during the quarter, compared to analysts’ expectations of $4.54 billion. Reinsurance Group of America had a net margin of 4.16% and a return on equity of 15.94%. During the same quarter in the previous year, the business posted $5.16 earnings per share. Equities research analysts forecast that Reinsurance Group of America, Incorporated will post 21.11 EPS for the current year.

Reinsurance Group of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th were given a $0.85 dividend. The ex-dividend date of this dividend was Monday, May 13th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.54%. Reinsurance Group of America’s payout ratio is presently 26.42%.

Wall Street Analysts Forecast Growth

RGA has been the topic of several research analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $225.00 target price on shares of Reinsurance Group of America in a report on Friday, June 14th. Wells Fargo & Company raised their target price on shares of Reinsurance Group of America from $210.00 to $227.00 and gave the stock an “overweight” rating in a report on Friday, May 10th. Morgan Stanley raised their target price on shares of Reinsurance Group of America from $216.00 to $217.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 10th. Piper Sandler raised their target price on shares of Reinsurance Group of America from $228.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, June 28th. Finally, Raymond James raised their target price on shares of Reinsurance Group of America from $212.00 to $228.00 and gave the stock a “strong-buy” rating in a report on Friday, June 14th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $207.45.

Insider Activity

In related news, EVP John W. Hayden sold 1,767 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $206.85, for a total value of $365,503.95. Following the completion of the transaction, the executive vice president now owns 16,490 shares of the company’s stock, valued at $3,410,956.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.37% of the stock is currently owned by company 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.