Corient Private Wealth LLC Sells 85,191 Shares of Reinsurance Group of America, Incorporated $RGA

Key Points

• Corient Private Wealth LLC cut its stake in Reinsurance Group of America by 32.4% in the fourth quarter, selling 85,191 shares and leaving it with 177,622 shares valued at about $36.4 million.
• Insiders also sold shares, including EVP Ronald Herrmann and EVP John W. Hayden, while institutional investors still own a large majority of the stock at 95.11%.
• RGA beat earnings expectations in its latest quarterly report, and analysts remain mostly positive with a consensus Moderate Buy rating and an average price target of $251.25.

Corient Private Wealth LLC reduced its position in shares of Reinsurance Group of America, Incorporated (NYSE:RGA - Free Report) by 32.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 177,622 shares of the insurance provider's stock after selling 85,191 shares during the period. Corient Private Wealth LLC owned 0.27% of Reinsurance Group of America worth $36,361,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Activest Wealth Management bought a new position in Reinsurance Group of America during the 4th quarter valued at approximately $30,000. Tobam grew its position in shares of Reinsurance Group of America by 244.7% in the 4th quarter. Tobam now owns 162 shares of the insurance provider's stock worth $33,000 after buying an additional 115 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Reinsurance Group of America during the fourth quarter valued at approximately $35,000. Entrust Financial LLC purchased a new position in shares of Reinsurance Group of America during the fourth quarter valued at approximately $40,000. Finally, Advisory Services Network LLC bought a new position in shares of Reinsurance Group of America during the third quarter valued at approximately $38,000. 95.11% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Reinsurance Group of America news, EVP Ronald Herrmann sold 7,000 shares of the business's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $210.58, for a total value of $1,474,060.00. Following the sale, the executive vice president directly owned 3,938 shares of the company's stock, valued at approximately $829,264.04. The trade was a 64.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John W. Hayden sold 414 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $214.95, for a total transaction of $88,989.30. Following the sale, the executive vice president directly owned 20,949 shares in the company, valued at $4,502,987.55. This trade represents a 1.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on the company. Piper Sandler dropped their price target 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. Evercore reissued an "outperform" rating and set a $267.00 price objective on shares of Reinsurance Group of America in a research report on Monday, May 18th. UBS Group upped their price objective 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. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Reinsurance Group of America in a research report on Wednesday, May 13th. Finally, Wells Fargo & Company lifted their target price on shares of Reinsurance Group of America from $238.00 to $261.00 and gave the company an "overweight" rating in a research note on Wednesday, February 25th. 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. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $251.25.

Reinsurance Group of America Price Performance

RGA opened at $210.49 on Monday. 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 cap of $13.79 billion, a price-to-earnings ratio of 11.40 and a beta of 0.47. The stock has a fifty day simple moving average of $208.47 and a two-hundred day simple moving average of $206.44. Reinsurance Group of America, Incorporated has a 12-month low of $165.52 and a 12-month high of $229.21.

Reinsurance Group of America (NYSE:RGA - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The insurance provider reported $6.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.03 by $0.94. Reinsurance Group of America had a net margin of 4.92% and a return on equity of 13.16%. The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.47 billion. During the same period last year, the business earned $5.66 EPS. Reinsurance Group of America's quarterly revenue was up 23.5% compared to the same quarter last year. Research analysts predict that Reinsurance Group of America, Incorporated will post 26.88 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 19th were paid a dividend of $0.93 per share. The ex-dividend date was Tuesday, May 19th. This represents a $3.72 dividend on an annualized basis and a yield of 1.8%. Reinsurance Group of America's payout ratio is presently 20.15%.

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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