Y Intercept Hong Kong Ltd Sells 17,605 Shares of Reinsurance Group of America, Incorporated $RGA

Y Intercept Hong Kong Ltd reduced its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA) by 42.0% in the first quarter, Holdings Channel reports. The firm owned 24,275 shares of the insurance provider’s stock after selling 17,605 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Reinsurance Group of America were worth $4,956,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. AQR Capital Management LLC increased its stake in Reinsurance Group of America by 148.4% in the 4th quarter. AQR Capital Management LLC now owns 1,652,102 shares of the insurance provider’s stock worth $336,137,000 after buying an additional 987,014 shares during the period. Norges Bank bought a new stake in Reinsurance Group of America during the 4th quarter valued at about $173,767,000. Orion Porfolio Solutions LLC boosted its position in Reinsurance Group of America by 6,076.4% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 602,503 shares of the insurance provider’s stock valued at $119,512,000 after buying an additional 592,748 shares during the period. Adage Capital Partners GP L.L.C. bought a new position in Reinsurance Group of America in the 2nd quarter worth about $69,426,000. Finally, Balyasny Asset Management L.P. bought a new position in Reinsurance Group of America in the third quarter worth approximately $35,266,000. 95.11% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP John W. Hayden sold 414 shares of Reinsurance Group of America stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $214.95, for a total value of $88,989.30. Following the transaction, the executive vice president owned 20,949 shares of the company’s stock, valued at $4,502,987.55. The trade was a 1.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ronald Herrmann sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $210.58, for a total transaction of $1,474,060.00. Following the completion of the sale, the executive vice president owned 3,938 shares of the company’s stock, valued at approximately $829,264.04. This trade represents a 64.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.60% of the company’s stock.

Reinsurance Group of America Stock Performance

Shares of RGA stock opened at $220.69 on Monday. The firm has a market cap of $14.46 billion, a price-to-earnings ratio of 11.96 and a beta of 0.47. Reinsurance Group of America, Incorporated has a 52-week low of $165.52 and a 52-week high of $229.21. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average is $209.54 and its 200 day moving average is $207.71.

Reinsurance Group of America (NYSE:RGA) last posted its earnings results on Thursday, May 7th. The insurance provider reported $6.97 earnings per share for the quarter, topping analysts’ consensus estimates of $6.03 by $0.94. The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.47 billion. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.Reinsurance Group of America’s revenue was up 23.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.66 earnings per share. On average, sell-side analysts anticipate that Reinsurance Group of America, Incorporated will post 26.88 EPS for the current fiscal year.

Reinsurance Group of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 19th were given a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, May 19th. Reinsurance Group of America’s payout ratio is presently 20.15%.

Analyst Ratings Changes

RGA has been the subject of a number of research analyst reports. Barclays lifted their target price on Reinsurance Group of America from $256.00 to $268.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Piper Sandler cut their price target on Reinsurance Group of America from $263.00 to $261.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Weiss Ratings restated a “buy (b)” rating on shares of Reinsurance Group of America in a report on Wednesday, May 13th. JPMorgan Chase & Co. lifted their price objective on Reinsurance Group of America from $264.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Finally, Evercore reaffirmed an “outperform” rating and issued a $267.00 price objective on shares of Reinsurance Group of America in a research note on Monday, May 18th. Seven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Reinsurance Group of America presently has a consensus rating of “Moderate Buy” and a consensus price target of $251.25.

Reinsurance Group of America Profile

Reinsurance Group of America, Incorporated (NYSE: RGA) is a leading global provider of life and health reinsurance solutions. Headquartered in St. Louis, Missouri, RGA partners with primary insurance companies to help them manage risk, improve capital efficiency and develop innovative products. The company’s offerings span traditional risk transfer, financial solutions and facultative underwriting services, enabling clients to address a wide range of mortality, longevity, morbidity and critical-illness exposures.

RGA’s product suite includes life reinsurance, living benefits reinsurance, structured reinsurance and financial solutions that support product innovation and capital management.