Algebris UK Ltd. Sells 12,487 Shares of Reinsurance Group of America, Incorporated $RGA

Key Points

• Algebris UK Ltd. cut its stake in RGA by 22.3% in the fourth quarter, selling 12,487 shares and leaving it with 43,505 shares valued at about $8.86 million.
• RGA’s latest earnings beat expectations, reporting $6.97 EPS versus the $6.03 consensus and revenue of $6.49 billion, with revenue up 23.5% year over year.
• Wall Street remains cautiously positive on the stock: analysts currently rate RGA a “Moderate Buy” with an average price target of $251.25, while the company also pays a quarterly dividend of $0.93 per share.

Algebris UK Ltd. lessened its stake in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 22.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 43,505 shares of the insurance provider's stock after selling 12,487 shares during the period. Algebris UK Ltd. owned 0.07% of Reinsurance Group of America worth $8,856,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of RGA. Nordea Investment Management AB lifted its holdings in Reinsurance Group of America by 3.8% during the fourth quarter. Nordea Investment Management AB now owns 570,631 shares of the insurance provider's stock valued at $116,597,000 after purchasing an additional 20,722 shares in the last quarter. ProShare Advisors LLC lifted its holdings in Reinsurance Group of America by 3.2% during the third quarter. ProShare Advisors LLC now owns 182,162 shares of the insurance provider's stock valued at $34,999,000 after purchasing an additional 5,586 shares in the last quarter. Nuance Investments LLC lifted its holdings in Reinsurance Group of America by 30.6% during the third quarter. Nuance Investments LLC now owns 47,334 shares of the insurance provider's stock valued at $9,094,000 after purchasing an additional 11,095 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in Reinsurance Group of America by 94.1% during the third quarter. Y Intercept Hong Kong Ltd now owns 18,504 shares of the insurance provider's stock valued at $3,555,000 after purchasing an additional 8,971 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Reinsurance Group of America by 1.6% in the third quarter. Federated Hermes Inc. now owns 354,762 shares of the insurance provider's stock valued at $68,160,000 after acquiring an additional 5,651 shares in the last quarter. Institutional investors own 95.11% of the company's stock.

Wall Street Analyst Weigh In

RGA has been the subject of a number of recent analyst reports. Piper Sandler dropped their price objective on Reinsurance Group of America from $263.00 to $261.00 and set an "overweight" rating for the company in a research note on Monday, May 11th. Barclays upped their price objective on Reinsurance Group of America from $256.00 to $268.00 and gave the stock an "overweight" rating in a research note on Friday, May 8th. TD Cowen reaffirmed a "hold" rating on shares of Reinsurance Group of America in a research note on Wednesday, January 28th. UBS Group boosted their target price on shares of Reinsurance Group of America from $216.00 to $220.00 and gave the stock a "neutral" rating in a report on Thursday, April 9th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Reinsurance Group of America in a report on Wednesday, May 13th. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Reinsurance Group of America currently has a consensus rating of "Moderate Buy" and an average price target of $251.25.

Reinsurance Group of America Price Performance

NYSE:RGA opened at $214.02 on Thursday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $14.02 billion, a P/E ratio of 11.59 and a beta of 0.50. Reinsurance Group of America, Incorporated has a 12 month low of $165.52 and a 12 month high of $229.21. The business's 50-day moving average is $207.36 and its 200 day moving average is $203.56.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last posted its earnings results on Thursday, May 7th. The insurance provider reported $6.97 EPS for the quarter, topping analysts' consensus estimates of $6.03 by $0.94. The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.47 billion. Reinsurance Group of America had a return on equity of 13.16% and a net margin of 4.92%.The firm's revenue for the quarter was up 23.5% on a year-over-year basis. During the same period in the previous year, the business earned $5.66 earnings per share. On average, equities research analysts forecast that Reinsurance Group of America, Incorporated will post 26.39 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th will be paid a dividend of $0.93 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $3.72 dividend on an annualized basis and a yield of 1.7%. Reinsurance Group of America's dividend payout ratio is presently 20.15%.

Insider Transactions at Reinsurance Group of America

In related news, EVP Ronald Herrmann sold 7,000 shares of the company's stock in a transaction 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 sale, the executive vice president owned 3,938 shares of the company's stock, valued at $829,264.04. This represents a 64.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is currently owned by insiders.

About Reinsurance Group of America

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.

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