Reinsurance Group of America, Incorporated (NYSE:RGA) Shares Sold by Worldquant Millennium Advisors LLC

Worldquant Millennium Advisors LLC decreased its position in Reinsurance Group of America, Incorporated (NYSE:RGA) by 5.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,984 shares of the insurance provider’s stock after selling 484 shares during the quarter. Worldquant Millennium Advisors LLC’s holdings in Reinsurance Group of America were worth $1,957,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. acquired a new stake in Reinsurance Group of America in the third quarter valued at approximately $25,000. International Assets Investment Management LLC purchased a new position in Reinsurance Group of America in the second quarter valued at approximately $28,000. Family Firm Inc. purchased a new position in Reinsurance Group of America in the second quarter valued at approximately $29,000. Private Trust Co. NA increased its stake in Reinsurance Group of America by 333.3% in the third quarter. Private Trust Co. NA now owns 156 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 120 shares during the last quarter. Finally, Wolff Wiese Magana LLC purchased a new position in Reinsurance Group of America in the third quarter valued at approximately $34,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

Insiders Place Their Bets

In other Reinsurance Group of America news, EVP William L. Hutton sold 1,209 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $218.97, for a total transaction of $264,734.73. Following the sale, the executive vice president now directly owns 12,357 shares in the company, valued at approximately $2,705,812.29. The trade was a 8.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.37% of the company’s stock.

Reinsurance Group of America Stock Performance

NYSE:RGA opened at $220.30 on Monday. The firm’s fifty day moving average price is $220.76 and its 200 day moving average price is $214.21. Reinsurance Group of America, Incorporated has a 1-year low of $157.48 and a 1-year high of $233.81. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.17 and a quick ratio of 0.17. The firm has a market cap of $14.51 billion, a price-to-earnings ratio of 20.23 and a beta of 0.93.

Reinsurance Group of America (NYSE:RGA) last issued its earnings results on Thursday, October 31st. The insurance provider reported $6.13 EPS for the quarter, topping the consensus estimate of $5.31 by $0.82. The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.29 billion. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%. The business’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm earned $5.57 EPS. On average, sell-side analysts expect that Reinsurance Group of America, Incorporated will post 21.67 EPS for the current year.

Reinsurance Group of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th were given a dividend of $0.89 per share. The ex-dividend date was Friday, November 8th. This represents a $3.56 annualized dividend and a dividend yield of 1.62%. Reinsurance Group of America’s payout ratio is currently 32.69%.

Analyst Ratings Changes

RGA has been the topic of several recent analyst reports. TD Cowen initiated coverage on shares of Reinsurance Group of America in a research note on Wednesday, October 9th. They issued a “hold” rating and a $235.00 price target on the stock. Barclays increased their price target on shares of Reinsurance Group of America from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Morgan Stanley dropped their price target on shares of Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Piper Sandler increased their price target on shares of Reinsurance Group of America from $237.00 to $242.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Raymond James raised their target price on shares of Reinsurance Group of America from $228.00 to $250.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, September 24th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $227.77.

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.