Park Place Capital Corp Decreases Stake in Reinsurance Group of America, Incorporated (NYSE:RGA)

Park Place Capital Corp trimmed its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 44.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 164 shares of the insurance provider’s stock after selling 132 shares during the quarter. Park Place Capital Corp’s holdings in Reinsurance Group of America were worth $34,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of RGA. Lindbrook Capital LLC boosted its holdings in Reinsurance Group of America by 129.9% in the fourth quarter. Lindbrook Capital LLC now owns 154 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 87 shares during the last quarter. Pineridge Advisors LLC acquired a new stake in Reinsurance Group of America in the 4th quarter valued at approximately $26,000. New Covenant Trust Company N.A. acquired a new stake in Reinsurance Group of America in the 1st quarter valued at approximately $28,000. Rise Advisors LLC bought a new stake in shares of Reinsurance Group of America in the 1st quarter worth $29,000. Finally, LRI Investments LLC bought a new stake in shares of Reinsurance Group of America in the 1st quarter worth $33,000. 95.11% of the stock is currently owned by hedge funds and other institutional investors.

Reinsurance Group of America Stock Down 7.5 %

Shares of NYSE:RGA traded down $16.69 during trading on Friday, reaching $206.31. The stock had a trading volume of 1,227,518 shares, compared to its average volume of 463,604. The firm’s 50-day simple moving average is $209.78 and its 200 day simple moving average is $193.78. The company has a market capitalization of $13.57 billion, a P/E ratio of 16.03 and a beta of 0.92. 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 $227.87.

Reinsurance Group of America (NYSE:RGA) last issued its quarterly earnings results on Thursday, August 1st. The insurance provider reported $5.48 EPS for the quarter, topping the consensus estimate of $4.94 by $0.54. The company had revenue of $4.88 billion during the quarter, compared to analyst estimates of $5.07 billion. Reinsurance Group of America had a net margin of 4.01% and a return on equity of 16.23%. The firm’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.40 EPS. As a group, research analysts expect that Reinsurance Group of America, Incorporated will post 21.11 EPS for the current fiscal year.

Reinsurance Group of America Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th will be issued a $0.89 dividend. This is an increase from Reinsurance Group of America’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Tuesday, August 13th. Reinsurance Group of America’s dividend payout ratio is presently 26.42%.

Insider Activity

In other news, EVP John W. Hayden sold 1,767 shares of the firm’s stock in a transaction on 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 in the company, valued at $3,410,956.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Morgan Stanley upped their price objective on Reinsurance Group of America from $216.00 to $217.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 10th. Jefferies Financial Group increased their target price on Reinsurance Group of America from $63.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Wells Fargo & Company raised their target price on shares of Reinsurance Group of America from $210.00 to $227.00 and gave the company an “overweight” rating in a research note on Friday, May 10th. Piper Sandler raised their price objective on shares of Reinsurance Group of America from $228.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, June 28th. Finally, Raymond James lifted their price target on shares of Reinsurance Group of America from $212.00 to $228.00 and gave the company a “strong-buy” rating in a research report on Friday, June 14th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $216.73.

Reinsurance Group of America Company 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.